Volatility and length, that's the value on an option. 10 years on a startup stock, that's a big valuable thing.
Planning is valuable, tho the plan is usually useless.
The right answer on raises is you have to be formal. You have to be formal to save your own culture.
You're better off being The Beatles than The Monkees, as a startup.
Leadership is hard to train on.
Business ends up being very dynamic and situational.