Because stock grants are sized based on price at the time of grant. With 1-year you get a max of 12months of upside on the valuation. With 4-year you get 48 months. When you hear about FAANG engineers making 7-figures this is why, their total comp offer may only have been $400k, but with stock appreciation and stacked refreshers there is huge upside.
Of course management at these companies claims they will give you "more" in the new hire grant and yearly refresher, which may be technically true in terms of the dollar value they are granting, but what they fail to mention is that if the stock doubles one year, the next year your refresher is half the size (because it's based on valuation at the time of grant).
It's especially disgusting for a VC to pitch this as the majority of young workers don't even know to think about this. Just another example of how being close to the money lets the investor class pull the wool over the eyes of the rest of us rubes.
Of course management at these companies claims they will give you "more" in the new hire grant and yearly refresher, which may be technically true in terms of the dollar value they are granting, but what they fail to mention is that if the stock doubles one year, the next year your refresher is half the size (because it's based on valuation at the time of grant).
It's especially disgusting for a VC to pitch this as the majority of young workers don't even know to think about this. Just another example of how being close to the money lets the investor class pull the wool over the eyes of the rest of us rubes.