It has always been possible (and sometimes happens) for VCs and mgmt to screw the early employees.

The question is will it become more common now?

Also, people equate these to aquihire deals. But they are not really. Most aquihire deals are when the company is out of runway, or it seems growth has slowed/stopped and there are no good ways out. There is not mucH value left.

Here there is clearly billions in value, it’s just not being distributed in the normal way.