Do you mind laying out your specific concerns? I'm not the developer of news:yc but I use it every day and like it a lot, and I think the user experience is fine and have never felt hampered or awkward using it.
I think you guys should sit down together and write down a list of what you will be contributing to the company. Im sure it will become very clear as to how you should break up the company. In my opinion after reading your post it doesnt look sound like you should be splitting the company 50/50
