In 2026, a startup's 'equity' isn't just a lottery ticket anymore—it’s a core part of your net worth that you need to understand deeply. With higher interest rates, valuation math has changed, but the upside is still there if you know what to look for. One of the biggest shifts we’ve seen is the rise of 'Secondary Markets,' which actually let you sell some of your shares before the company even goes public. Before you sign that next offer letter, you need to be clear on things like the 'Vesting Cliff' and the real difference between ISOs and RSUs. We’ve even put together a negotiation worksheet to help you make sure you’re not leaving millions on the table just because you didn't ask the right questions.