I'm looking for someone that is going to drive the site forward without having to watch over them. I'm looking for someone to take ownership of their work. Thus, equity.
One simple request: Can you please make sure you provide adequate counseling about the tax implications of 'working for equity' that given an already-launched product can be quite onerous?
This is HUGE. The new hire can wind up with a substantial tax bill, and no cash to pay it with. Don't gloss over this!
Surely the government would accept equity in an ambitious young startup poised to reshape the world of online music.
Why not. They seem to accept equity in over-priced homes.
You assume the OP knows them himself.
You're a far more optimistic person than I am.
Equity isn't worth shit til' the person receiving equity to build the product builds the product (thus making the equity worth something). All developers should avoid these catch 22 situations; I know I do.