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> My cofounder has several more years of work experience, and more closely focused on mathematics and machine learning. I have some experience in these fields, but am more of a general software engineer. Because I am bringing the money to the table, we intend to make the equity split 51/49 in my favor.

Cool, as long as you both feel the even contribution. The 51/49 will also only work if you're both clear that the 51% has the deciding vote on disagreements. Otherwise, just a 50/50 split.

> We are currently working nights and weekends and making good progress. We both work very fast-paced, demanding jobs in Silicon Valley, which makes it hard to sustain our current pace without burning out.

Sure, I get that. Just make sure you're setting up times to talk to investors now. Showing your progress and trying to get customers.

> Would you suggest that instead of cannibalizing our existing funds, that we just stop contributing to our 401(k)s and save more cash for our startup? Or should we continue to save for retirement at our previous pace?

I'm never a fan of holding off on saving for retirement. Keep putting it in if you can afford it.

> I am definitely in favor of doing this, but like you pointed out, the MVP could take twice as long even when working full time.

True and you will know best of the time frames here. I have no idea what you are building. ;)

Because I am bringing the money to the table, we intend to make the equity split 51/49 in my favor.

This is a not a great reason. I like 51/49 for the CEO, the real leader of the company. The person who will be the one pushing the other when everyone else wants to quit. The one who is biased for action. The passionate one.

I'm guessing you already know that, it's just the way you phrased it that wasn't perfect.

You're better off not contributing but recording what contribution value you're missing.

Every dollar removed from the 401k costs a significant amount due to taxes and penalty. If you can, always avoid taking money out.

Divide the company 50/50. Share success and failure equally. At 51/49 less than full commitment is structurally expressed both for the minority partner and the controlling one.