Late reply, but I ironically was thinking the other night if this should work conversely. For most points, I think yes. One notable difference is that developer

Late reply, but I ironically was thinking the other night if this should work conversely. For most points, I think yes. One notable difference is that developers will create something tangible, and usable, within a month or two. It could be enough to raise money off of. In this case, I'd say there should be equity structure in place at the beginning. Business co-founders would provide value in a month, but its probably through intangible relationship assets. The value by a business co-founder is also something that is ever-expanding. If he or she made 100 sales in a month, you'd never say "Well, that's all we need, have a nice life" but with applications, some people may see them as "done" and therefore you don't need the developer any more. Anyone who understands that software is never done in a startup would disagree, but its less obvious, especially to business founders, that this is true.