I think in the earliest days, before you really have anything …

Equity can only be done based on relative fairness.

Yes, he wasn’t there on day 1.  But he was on day 90.

So to me:

  • Is he still really almost a co-founder?  Or did you really do SO much value creation those first 90 days?
  • Is he one of the 2-3 most important people in the company?
  • Has he contributed as much or more than you?
  • Will he contribute as much or more than you 2, 4, 6 years out?

If the answers are Yes, Yes, Yes and Yes … I think maybe he deserves an equal share, or something closer to it.  If it’s Yes, Yes, Yes and Yes … 10% does sound about right to me.

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