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I figured the deal was fair because I thought salaries would be coming in imminently, and that I'd only be putting a few grand on the line. That turned out not to be the case.

In truth, I don't know what fair is, because I don't see the whole picture: who else will get equity in the future, what does the option pool look like, etc.?

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A high single digit stake is a lot of money if things go well. Just make sure you don't get screwed over by dilution and you'll be fine. Get your promised equity in writing and be happy that you're with people who are delivering what they promised.

You can't re-price risk after it has been fully assumed and if I was one of your colleagues I would be pissed off at your attempting to re-negotiate a previous agreement. You seem to believe your co-workers have an obligation to see you get a certain level of compensation and that your equity stake should grow or shrink depending on that compensation. That is the attitude of an employee not an owner.

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