For what it's worth. I ignore private company equity offers of all stages as it's impossible to fairly value the equity which inevitably leads to an undervalued total compensation package - even on successful exit. I'd expect that the market would work out the generosity component if the terms were fair - but right now great startups are competing for employees with their second scarcest resource (cash) with companies that have effectively unlimited cash and great liquid equity. This is a recipe to burn the startups first scarcest resource (time) as projects run slower due to weaker execution, and for later stage companies leadership.