If he's taking market compensation, shouldn't he at least receive a lower equity stake vs. no equity whatsoever? Start-ups will ask you 'do you prefer more shar

If he's taking market compensation, shouldn't he at least receive a lower equity stake vs. no equity whatsoever? Start-ups will ask you 'do you prefer more shares, or more equity". You can take "market rate, little equity" as an option. "They're funded" is also mis-leading, as they're still in the process of getting an angel round. The guidelines and the post you've written (which are excellent, by the way) are more for "post series A, pre series B" stage rather "angel round, forming the core team by signing on the first technical person" stage.