This may work for you, but in general isn’t good advice. You shouldn’t be confusing beliefs and risks. Risk should be managed - you should be comparing cash invested into the public market (or treasuries, or bitcoin, whichever you prefer) with equity in the startup, not with a savings account.

Startup equity is worth a lot:https://www.amafinance.org/startup_comp/

Maybe useful for VCs who have a portfolio of companies and need to put stuff in their presentations to LPs.

If you’re an employee you can’t look at this like an investor would. Your risk profile is completely different. The write up is correct in that it’s basically a call option, correctly point out there is no market for it and then ignore the fact that zero liquidity means you can land a 747 between the bid and ask (if you get anyone to buy from you at all).

This a feel good number generator.

An employee can repeat jobs over and over. Assumption is an exit eventually occurs - same thing VCs feel as well.