投资人在投资过程中会关注股权架构的合理性，在未来公司上市过程中，资本市场也要求股权设计架构明晰、合理，因为在每轮投资者进入时，创业团队都需要提前思考、整体规划、不断调整，为未来腾挪出时间和空间。

In the process of investment, investors will pay attention to the rationality of equity structure. In the process of listing companies in the future, the capital market also requires the equity design structure to be clear and reasonable, because in each round of investors' entry, the entrepreneurial team needs to think ahead, make overall planning, and constantly adjust to make time and space for the future.

同时，多轮次投资者的进入带来的股权稀释，会导致公司控制权旁落的风险，尤其是创业团队内部出现不同声音时，投资人往往会成为“压死骆驼的一根稻草”。

At the same time, the equity dilution brought by the entry of multiple rounds of investors will lead to the risk of the company's control right dropping, especially when there are different voices within the entrepreneurial team, the investors will often become "a straw to kill the camel".

实际的问题往往出现在投资人或许并不想这么做，虽说作为父母角色的创始团队一定是疼自己的“孩子”，但犯糊涂的爹妈也有的是。一旦创始人 大权独揽，犯个大错就可能让投资人血本无归。因此在实际中控制权的问题是否能够实现，决定因素是创始人和投资人谁具有更高的谈判位势，更多的时候双方会达成一个微妙的“平衡”。

The real problem is that investors may not want to do so. Although the founding team, as a parent, must love their own "children", there are also some confused parents. Once the founder is in charge, making a big mistake may cost the investors nothing. Therefore, in practice, whether the issue of control can be realized or not depends on which founder or investor has a higher bargaining potential. More often, both sides will reach a delicate "balance".

创业企业，要始终留出一部分股权池，来吸引区域人才、行业人才的加盟，这种长效的、形成机制的激励，也能够保证新老团队的磨合不出现问题。

Start up enterprises should always set aside part of the equity pool to attract regional talents and industry talents. This kind of long-term incentive mechanism can also ensure that the running in of new and old teams does not have problems.

如若不然，早进入公司的一批人把自己看成元老，担心新人替代自己的地位；新人们认为自己的能力更强，看着元老理所应当享受股份，双方产生强烈的排斥情绪，那么创业企业的冲刺马拉松赛永远都不可能跑到终点。

If not, a group of people who have entered the company early regard themselves as Yuanlao and worry that new people will take their place; The newcomers think that they are more capable. Seeing that yuanlaoli should enjoy the shares, both sides have strong feelings of rejection. Then the sprint marathon of start-up enterprises will never reach the end.