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> Sure, but dilution without representation can be a big risk for a regular employee.

Well, it's a big risk to everyone that doesn't get voting rights, right? Not all investors get voting rights, do they?

In some way, an employee sits between a non-voting investor and a voting investor. They don't get to vote, but they do have some control over the outcome of the company (ranging from small to large, depending on the number of employees and responsibilities of the person in question).



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