Struggling to find a co-founder especially considering all the work and money I’ve invested in it already. Aka: I’d have a hard time giving up half equity to.
There was a vetting process (on both sides, it's like getting married!) including a technical interview.
Equity was a difficult conversation, but better to set it out at the beginning. Lots of calculators out there via Google that can help provide perspective. Make sure you vest over years. (We did a 6 month/6 month/every month for 36 months schedule.)
Also, why do you need a cofounder? What are they going to bring to the table?
I still did a lot of the hard work and money, gave him only a minority share. He was okay with that. Later on, I added a much larger share when he proved he could commit.
We made good, ambitious progress. I'm surprised he stuck with me through it all, especially since I didn't really know him that well. There were times he canceled his health insurance and slept on the office floor to keep things going.
Personally, I think partners who are strangers work better than good friends but YMMV.
Is it a problem really with 50% equity, or your idea/product?
You can as well be meeting the wrong people.
It's really hard to recommend in the general because you might find a co-founder who brings so much to the table (money, skills, relationships, experience) that they deserve 50% or more) and you might find one that only brings technical skills in which case the amount might be much much less (15-35%).
It's really all a negotiation, but you can't figure it out until you know who is interested in joining. Maybe no one will be and all this discussion will be for naught.
But if you're ready to offer some salary (even if just 50% of the market rate), then of course 50% equity would be too generous.
If you let co-founder in you are not only sharing % of the company but also vision. Getting co-founder is like getting married, if you struggle to find someone you know and trust maybe it's better to stick with advisor for now.
But sometimes you need someone emotionally invested in it. Cofounders are much better. They don't necessarily have to have 50% share. I'd be happy to take on someone whose sole purpose is to be the customer surrogate and give them a 20% share.
My cofounder helped to keep a leash on me doing really dumb things. All good entrepreneurs are relentless, and a cofounder helps to keep it in perspective. Also a cofounder adds their network, and my minority share co-founder landed the acquisition.