Foundations: The Tragic Algebra of Stock-Based Compensation

First, the algebra.I watch a lot of Big Bang Theory. If that does not look like a Nobel Prize, Alex Karp is not a doctor.But no, I do not claim such a prize.This derivation belongs to my right-hand man at Scion the last four years. Phil Clifton is his name, and he is quite literally a rocket scientist.Engineers make great analysts in my experience.