So, basically, your VC money is awesome, wonderful and welcome until the check clears...and then you're the "enemy" for wanting to stay in control of it.

Doesn't this reduce every early investment in a startup into a binary thing? You either lose it all, or hit a home run. Unless you pull a Groupon and exit everyone before the IPO.

I believe the context is what an employee does with her equity stake, rather than what a founder does with the capital.

And no, I don't think it does.

The quote mentions Uber investors, not employees, even though the article deals mostly with an Uber employee trying to sell shares. This is why I'm a bit confused.