Instead of owning up on his failed predictions merdesman
gives you another one, just so you can feel content with your hard earned investment: "all this will pass. Likely after the next Option grant or so".
Why "likely the next?"
Why not in three of ten down the road?
Why not three option grants before?
Because don't fool yourselves, that's what he was saying years ago.
The pump must pump.
He is contracted to do so, or wants to bait you, or is defending his decisions, but he is not informing people.