Survivors of "down rounds" – how did it go?

I haven't been in this situation, but I think it would really depend on a few factors:

- Is my cash compensation adequate? A down-round can make stock grants worth almost zero unless there's a huge rebound.

- Are people around me still motivated? I wouldn't want to be surrounded by sad coworkers.

- Are the founders still motivated? Their dreams of riches are probably evaporating. And a company with unmotivated leadership is not gonna be around long.

Be transparent with your boss about how it's affecting you, while also being sensitive that a lot of people are in a similar boat. The journey to liquidity is long. There will be more grants in the future.

We had a small down one, eventually company actually did a massive equity re-do for everyone giving us an option for a different strike and longer exercise window. It took 18 months from the "crisis" though.

Eventually the board realizes that they need the employees motivated.

Anyone actually ever get a big payday off a company that did down rounds? Seems like a non unicorn thing to do