Public vs. private probably doesn't matter all that much. I've had equity compensation from most of my jobs, and I never really felt strongly GP's statement of "What's good for shareholders is also good for [...] tech employees". My company's (public) stock could double and it wouldn't materially affect my lifestyle. For non-public companies I've worked for, the equity usually ended up worth $0. In one company, I was able to sell all my equity at the height of its stock prices, and made maybe enough for 2 months of rent. I think the idea that equity allows employees and companies to share success is kind of overblown.