'... The point he made was, in general, if you give a partner all the equity up front, kicking him out later doesn't make sense. Even if he's extremely unproductive, your only choice is to try to work things out. ...'
The "Ki" scenario. Remember in Startup.com (http://en.wikipedia.org/wiki/Startup.com) where a founder put an estimated 4 months + 20K then didn't quit his job. After negotiation he walked with 200K+ USD but this time paid for by his co-founders. There must be a better way.
Maybe increasing to total equity as progress is made, because you can bet with a group of four there is always going to be a chance of one founder for some reason or another bailing. But the way it's panned all, are paid. Maybe not as much as they theoretically could have. But money in hand (and a job), now is worthy objective.
The "Ki" scenario. Remember in Startup.com (http://en.wikipedia.org/wiki/Startup.com) where a founder put an estimated 4 months + 20K then didn't quit his job. After negotiation he walked with 200K+ USD but this time paid for by his co-founders. There must be a better way.
Maybe increasing to total equity as progress is made, because you can bet with a group of four there is always going to be a chance of one founder for some reason or another bailing. But the way it's panned all, are paid. Maybe not as much as they theoretically could have. But money in hand (and a job), now is worthy objective.