Contractor implies that you're getting no benefits and you're paying up the self-employment tax instead of the company.
For a CTO-level position, at a startup that's raised a Series A? You bet I'd want that much money. Assuming a typical start-up level workload, that works out to somewhere around $80 and $120 an hour, which is pretty reasonable for CTO-level talent, considering the higher tax burden and the need to secure your own health insurance.
EDIT: Yes, certain (funded and/or profitable) startups will pay this much (or the equivalent in salary and benefits) for a talented CTO. Note that this implies actual CTO-level work and not "oh, I'm just going to call my first developer hire the CTO to flatter his ego because he's the only technical guy on staff." (That sort of title inflation you should run from - it's just going to cause HR trouble when the company grows and needs a real CTO, and it's usually offered in lieu of an appropriate salary.) If you're putting "CTO" in quotes, you need to hire a developer, not a CTO.
For a CTO-level position, at a startup that's raised a Series A? You bet I'd want that much money. Assuming a typical start-up level workload, that works out to somewhere around $80 and $120 an hour, which is pretty reasonable for CTO-level talent, considering the higher tax burden and the need to secure your own health insurance.
EDIT: Yes, certain (funded and/or profitable) startups will pay this much (or the equivalent in salary and benefits) for a talented CTO. Note that this implies actual CTO-level work and not "oh, I'm just going to call my first developer hire the CTO to flatter his ego because he's the only technical guy on staff." (That sort of title inflation you should run from - it's just going to cause HR trouble when the company grows and needs a real CTO, and it's usually offered in lieu of an appropriate salary.) If you're putting "CTO" in quotes, you need to hire a developer, not a CTO.