The issue being actually accomplishing #3. As a founder I can't afford to give you a huge chunk of the company (lets say 10% all by yourself). So I give you and the other 4 employees each 5%. That is going to be diluted down to god knows how little by series C. Probably something in the range of 0.5%-1% in a lot of cases. Now your screwed either way.

The simple fact is, when investors are involved there is NEVER enough equity to go around.