We've all heard that AI companies are hiring fewer people and trying to build lean, mean, ARR machines.
So why are the founders of those AI startups creating larger option pools than their non-AI counterparts?
Love when we stumble across a counterintuitive finding. Here's my thinking:
Yes, AI company option pools are a little bigger on a median basis than the non-AI ones but the effect is marginal. I don't think this is evidence AI startups are purposely setting out to enlarge their option allocations relative to the rest of the market.
Which begs the question: why aren't they much lower, given the focus on tamping down headcount for as long as possible?
My guess is that AI founders want the optionality (pun intended) to go big for a few hires equity packages if the need should arise. Those AI/ML engineers can still command some serious market premiums.
Or maybe this shows that defaults move slowly, even if the other planks of venture company building have shifted over the past few years.
What am I missing here?
Onwards!
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Peter Walker
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