I can see why illiquidity is a feature in startup equity. The noise of constant price action combined with the actual volatility of a startup would be so unproductive

The illiquidity is also super annoying for early employees with shitty founders who find themselves in a situation where they need tens of thousands to exercise options or lose all value of their time/opportunity investment.

Liquid equity would mean that founders/investors would have less power.  That’s not a terrible thing.

Startup artist seeking inspiration.  Champion of /bcard