I see the same scenario play out in startups consistently. A Founder fights hard to get a "Yes" from their top candidate. They stretch the budget. They offer $15k over ask. They think they have won on the numbers. But the candidate still walks away. Why? Usually, it’s because the Offer Letter looked like a black box. The Equity section simply said: "Option to purchase 15,000 shares." To a Founder, that looks like generosity. To a smart candidate, that looks like a lottery tic