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company on a breakout trajectory

I think he's talking about companies like Square now, Groupon a few years ago, Facebook a few years before that, Google a few years before that. $1B+ valuations, positive glowing aura, disproportionate talent attraction. The kind of company where you can tell almost anyone you work there and they say "Wow, what's that like?"



Sure, but by the time companies are at that point, the equity they give out is trivial (sub-0.01%) and the important positions are already filled.




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