MORE LIES OF STOCK-BASED COMPENSATION

Summary from the TLDR Founders newsletter

Stock comp looks the same on a GAAP line no matter what your share price does. The dilution doesn't. When Amplitude traded at $83, a $250K package cost 301K shares. At $5.90, that same package costs 4.2M shares. Same expense, 14x the dilution. That math gets ugly fast as software multiples keep compressing.