I could raise more money and hire an employee with the expertise I need, but then I would dilute and give shares to the investors. I would prefer to dilute by

I could raise more money and hire an employee with the expertise I need, but then I would dilute and give shares to the investors. I would prefer to dilute by giving shares to another programmer who wants to work with the start-up mentality and really shoot for the stars. If I don't find someone with the skills the project requires who wants to work largely for equity soon then I will hire someone to do it as an employee or a contractor. Didn't PG write that you should always prefer employees who want as much equity as possible?