In the last startup I worked for I got some options, but since the exit was an acquihire, they ended up being meaningless and the only factor was retention bonuses.
Now, I’ve been asked to consult for a startup, being founded by someone I know well. I think it has a reasonable chance of success given the situation. I want to figure out what I can do to make sure that I don’t just end up with a bunch of meaningless options again, especially as M&A and acquihires seem to be the norm these days. Any ideas? What do people who have been around the block a few times do these days to protect themselves?