Open question: how do you look at the equity where one of the co-founders (Founder A) does not have to work for X number of years, since they've cashed out of another company. They have the capacity to work full time, whereas the other "co-founder" (Founder B) is only able to work part-time. Founder A has the means to not work for a lengthy period of time. While they're taking on an opportunity cost, is their risk viewed the same as some other guy that quits his job (kills his income) and maxes out his credit cards?
EDIT: According to Spolsky in his hypothetical situation, Founder B was not a co-founder because he kept his job. Founder A, OTOH was essentially unemployed and took on all the risk, and therefore was a "legitimate" founder.
EDIT: According to Spolsky in his hypothetical situation, Founder B was not a co-founder because he kept his job. Founder A, OTOH was essentially unemployed and took on all the risk, and therefore was a "legitimate" founder.