The problem with the Mint example is that the acquisition price was really quite high. Patzer's personal stake was $40 million(!). That's in the same ballpark as he might make in an IPO 5 years later, after being diluted to hell. It's FU money 4-6 times over.

I think cashing out a couple million only works when a) the founders are obsessed with the company's mission above all else b) the acquisition offer is small enough that VCs can give the founders ~20% of their would-be cash now.