the (huge) option expense of tech companies

just some quick calc, YHOO/EBAY, 1/3 of earning INTC, 21% of earning, in yahoo and ebay's case, just the option part, company employee including management spit the company income with all share holders 1:2, not including the salary, bonus, expense reimbursement, and the shares they already hold with exercised options, the days that the whole market will sponsor those kind of companies, by rewarding extraordinary valuation, is gone farther and farther