"cofounder" and "first employee" are very different roles. Cofounder takes risks, participates in the whole company development, etc. What you're talking about

"cofounder" and "first employee" are very different roles. Cofounder takes risks, participates in the whole company development, etc. What you're talking about is a first employee that is also paid with equity. And, by the way, there is a way to offer an equity right from the beginning — stock options that vest over time.