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  "notes": "Data source: Capshare. The chart illustrates that dilution is typically between 15-25% across rounds.",
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      "text": "Median employee dilution by stage",
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      "text": "Executives should expect dilution of between 15-25% in nearly any round no matter the stage. However, dilution does appear to be smaller at the earliest and latest stages of a company's life. It peaks in the Series A and B.",
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      "text": "\"TYPICAL\" DILUTION RATES",
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