Agreed if he were an average employee, but, (A) he was doing pretty much all the heavy lifting early on - to some degree tumblr v.1 was the creation of Marco, (

Agreed if he were an average employee, but, (A) he was doing pretty much all the heavy lifting early on - to some degree tumblr v.1 was the creation of Marco, (B) he made it clear he took less money because he could "use whatever keyboard he wanted, and had more than 3' of desk space" and (C) It's not that generous when there are only two people working on a project. Also - he's a talented developer, and tends to get shit done (as demonstrated via Instapaper, ATP, The Magazine) - and those people command a higher return. Also - David Karp wasn't a well known entrepreneur back in the day, and Marco came in at the genesis. 5% would have been generous if it had been after a round of funding, but pre Series A/Angel Round, it's what any top level developer should ask for when going into the same situation as Marco. Tumblr might not have existed where it not for him.