The problem is that, often times, much of the technical work is front-loaded, leaving most of the initial risk disproportionately in the technical person's lap. It's only after an MVP is built that the business side of the operation has to perform. Equity split should reflect the assumed risk.
That’s a fair point. However, there could also be front loading in the business role. Sounding out the market, figuring out who your customers are and what they want - the sort of stuff that should be done before writing any code. Isn't that still a significant amount of work?
