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I never understood why people are so dogged on hiring - just get a senior consultant - pay 2-3x and save the equity. it's faster and in the end the expenses level out (cost of hiring, 401, insurance etc.)

Make the contract with 1 months notice both ways and it's pretty much for all intent and purpose a hiree

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For startups, equity is cheaper than cash. Cash has to actually exist in a bank account and be transferred out, equity is essentially imaginary.

based on term and employment conditions (ex: onsight for years) they run the real risk of retroactively being classified as an employee. The only way to avoid this is to hire a consultant who comes from another company... where they're typically an employee, so someone else solves the problem.

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