Wow, do not understand this approach some founders take. Being “radically” transparent by showing your cap table and talking through liquidation prefs/exit scenarios with every single employee is an absolute prerequisite for me. For me this has driven loyalty and paid dividends in culture and retention. I would not work for a startup where the founder wouldn’t share that info.
How many times has a startup shown you the full cap table? Was this at the very early stage, before raising money, or even after funding rounds?
The cap table contains names of individuals. Most founders I know were reluctant to share the exact details. At the same time it's impossible to value option or equity grants without knowing valuation estimates, shares outstanding, round sizes, and liquidation preferences. Those get shared more readily.
