I completely disagree with this. You want to find a co-founder, not an employee. In the early stage your technical co-founder will be doing 90% of the actually work. To offer them a small equity stake because it's your idea is an absolute joke.
I completely disagree with this. You want to find a co-founder, not an employee. In the early stage your technical co-founder will be doing 90% of the actually work. To offer them a small equity stake because it's your idea is an absolute joke.
In particular, offering equity as part of a freelance arrangement is just dumb all round. It's a lose-lose situation.
A freelancer wants cash, not lottery tickets in your non-existent startup. And giving away a chunk of your company to someone who's only going to be around for a few months hurts you too. I know there's one UK startup that was founded that way (built by a web agency that got a chunk of equity) and it caused no end of problems. Either get a co-founder who's in for the long haul and reward them with equity, or get a freelancer and reward them with cash.
To me, it seemed like his advice boiled down to this: "If you want a technical co-founder, prove yourself and get some traction for an MVP first (it isn't impossible if you're committed). When you later meet with a potential co-founder, don't sound like you're desperately seeking the first person who knows how to fix a sinking ship."