When I was in college, I was asked to be a founding engineer. The other two involved were business guys that were pursing a $1Mil grant and needed the MVP in 9 months. I asked for 33% and they laughed me off. A few months later I saw many salty posts on their socials about "engineers expected to own the company when they don't contribute any vision or direction".

It's like captaining a ship and not being willing to repair the ship. Good luck on your own I guess.

It's different when they already have a product and are looking to expand. That's closer to hiring a sailor to manage the sails. But when you're hiring a ship builder expect a ship builders wage.

Also, don't hire a college kid to build your MVP. That's a big enough red flag right there.