Based on that additional piece of information I have some advice for you. Take your boss aside, and tell him that you need his undivided attention for an hour

Based on that additional piece of information I have some advice for you. Take your boss aside, and tell him that you need his undivided attention for an hour or so, later today. Wait patiently until whenever he agrees to meet you. Then tell him that you believe the current situation is completely untenable. Tell him that your intention is to quit, immediately, today, and that you still believe that is the best approach. However, rather than necessarily abandon him, you will remain open to instead receiving a portion of the equity. Decide BEFOREHAND what portion of the equity you want, and make sure it's something that would make you feel GOOD about working for peanuts for a few years. Tell him to think about it overnight, and see what he says in the morning. Based on what I've heard so far about his personality, I'll predict that he'll probably tell you to get lost. Or he'll beg you to stay without the condition. But stand your ground. Then go find a better job.