Equity for employees is commonly part of an employment package, but:
1. It's rare for startups to succeed
2. It's rare for non-owning employees to be able to exercise shares/receive money when the company sells due to the structure of VC-backing/ownership and the resulting order of who gets paid/when
We all hear stories about when employee equity does not work out. Are there any examples of when it DOES work out well for an employee with equity?