See The Majestic Monolith: https://m.signalvnoise.com/the-majestic-monolith-29166d022228
We do twice yearly reviews with everyone that includes a focus on the career progression. This means talking about the kind of stretch projects and skills someone would need to line up to move up.
We’ve promoted several people all the way. George, for example, started as an intern, then was hired as a junior programmer, the…
Having access to Jeff was nice, and we benefited from his advice. But I wouldn’t call it priceless. It definitely had a price! And I wouldn’t have paid more than we did in terms of stake to get what we got. It was a fair deal all around.
It made plenty of sense for Jeff. As mentioned, he has made his money back five times over and will continue to earn with every distribution. But it did require a model where the return on investment could happen as a stream over more than a decade, not as a single windfall. VCs aren’t setup to be able to do those deals. Hence they don’t.