If you're just burning living expense, you could find some short term part-time consulting work. This would slow you down a bit, but if you believe you'll be e

If you're just burning living expense, you could find some short term part-time consulting work. This would slow you down a bit, but if you believe you'll be either cash-flow positive or able to get a much higher valuation after another couple of months of work, it may be worth it. Also, would you hire this guy to be your first employee? Would you have founded the company with him in the first place? He's basically asking to be in at that level, so if he's not the right person, there's more to be worried about than the valuation.