> stock options did become nearly universal in tech compensation
Although I've noticed that options have been replaced more and more these days with RSU's (plain old grants) because options have a tendency to go "underwater", suggesting that they weren't all that great to begin with.
> options have been replaced more and more these days with RSU's (plain old grants)
RSUs are also much-less liquid and tightly controllable by companies than actual stock. That has made them attractive to management and insiders.
It’s been standard advice on this forum for at least 10 years to value options at $0, and only consider cash comp + RSUs.
Right, options go underwater precisely when the company is not doing well and you are at greatest risk of losing the job. That's not a great risk profile.