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While I agree with your premise, the didn't-take-early-offer-and-run seems doesn't provide strong enough evidence.

For a super successful startup (a la dropbox, stripe, etc.) -- why take only $50 million and leave the rest (possibly hundreds of millions) on the table? Especially with investors chewing their ears out about going for the home run. And, possibly, with an opportunity to cash out partially (a la Groupon, airbnb, etc.)





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