I would have answered this question very differently 10 years ago. Since then I have seen every option I have ever own disappear through dilation, redundancy or through the company going down.

Sadly, options are generally worthless and shares are only worth something in a profitable company on the rise (and if you can actually sell them).

Bonuses are better for people with houses, cars & children. But again only if they are paid as promised. So often I have met targets and seen no bonus: bonuses are on the whim (and often performance) of others.

When I answered the question, I meant it in a sense of "I don't expect to get rich if we ever IPO or get bought, and as an employee I haven't any way to prevent dilution or otherwise try to maximize the value of these options. So how about we take another look at our base, hm?"

I wonder...is it a complete lack of interest, or is it, "I'm not interested in the tiny amount of equity/sharing I typically get offered?"

The latter leads to the former.

Everyone starts out young and enthusiastic and thinking that they can build something cool that will make everyone rich. Young, clever guys do what they think is the hard work: designing and building a cool product. They think that they are sharing their talent with some lucky money guys and everyone will benefit. Sadly, they learn that they were giving their talent to the money guys and the money guys got rich.

I've been bitten four times now. I've never seen a penny from an option. Every time I've wanted to buy some, the rules have changed and I have to wait another year and then realise that my options have been diluted again without my say-so.

So at first I assumed that my options would make me rich. Now I assume that my options are just an unobtainable carrot dangled in front of me.

Do you ever ask for salary/bonuses/other "real value" up front instead of options, and if so, does it get you anywhere?

Yes that surrised me as well - would be inetersting to see it broken down by country