on Good Technologies is interesting. For example:
"“It’s not unusual for employees to be wiped out while venture capitalists make money,” said Dennis J. White, a partner in Boston at the law firm Verrill Dana, who has studied deals like Good’s."
How do you protect your employees? If your company runs out of money, or gets sold for less than its valuation, anyone without protected stock can be instantly wiped out, or go into serious debt. (This is not to worry about people who just make thousands instead of suddenly make millions in windfall; they're fine.)
And how do you protect yourself?
"The odds that the unicorns will all reap riches if they are sold or go public are slim. Over the last five years, at least 22 companies backed by venture capital sold for the same amount as or less than what they had raised from investors, according to a data company, Mattermark. This means investors did not reap many returns - but there was even less left over for employees."