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["Don Rua" <drua AT ouishare.com>]

    When I think of the stock-option question, I think of it in terms of the
person's goal for participation in a startup. If the goal is eventual
accumulation of wealth and income through stocks, then the first leap from
IBM to a startup is only a piece of the formula. The progression is not
independent of your original and ongoing goal, subject only to mathematical
formulae.
    When stepping out and becoming that 9th or 10th man in a startup, you
may lose on the stock option race against your IBM lifers if that is all you
ever do with the decision. However, after the experience and growth in
startup one, you may move on to Founder of startup two as the CTO with a
larger stock percentage, (whether or not the original startup was successful
or not, it's the experience, connections and growth that collects interest.)
Then, after proving your worth in startup two, you may be tagged by VC's,
recruiters, and partnership businesses for a top spot in young-company
three, with a chunky salary or hefty stock share.  That third leap may be
with a young company that has more security, perhaps on the verge of Series
B financing or a liquidity event within 18 months.
    The point is, that the shot for the 200,000 grand does not end with the
first decision, and each decision following the first not only increases
your shot at the pie, but also the size of the pie in terms of percentage of
companies in future endeavors. As part of the 'game', you can also sit on
boards, be exposed to numerous investors and investment opportunities, and
be privy to many other incentive laden situations.
      I see the 'shot at the pie' as only iffy if the shot is taken with a
'steady as she goes' plan of income accumulation.  If the experience is
valued not just in initial stock worth, but in personal worth and future
endeavors, I think the max value is very much in your control.

I may be off base, but I'm not stealin'.............don