If you don't agree it is fair, then the author's method will never work for you. The perception of fairness always comes first and prior to the details of share distribution.
The challenge, however, is not to identify the time value of money and the inherent risks of not taking a salary. The problem is to quantify those risks and costs in a way which all the cofounders will consider fair...all the while recognizing that forty percent of a startup is probably worth just as much as sixty percent, i.e. Nothing.
The challenge, however, is not to identify the time value of money and the inherent risks of not taking a salary. The problem is to quantify those risks and costs in a way which all the cofounders will consider fair...all the while recognizing that forty percent of a startup is probably worth just as much as sixty percent, i.e. Nothing.