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I only consider the second and third situation to make sense, and this is regardless of whether you're founder one or two.

If you lean on early stage investment to pay yourself a salary (which imo shouldn't happen in the early stages, but I do understand why people do it: to take risk away) then by default you are "padding the bank account" of the founders.

Generally equity divisions will be decided before setting up an entity and raising investment, so by the time you get there, it will have already been decided.

Given 1) the low probability of an exit when playing the venture game, and 2) the small equity stake you'll be left with at the end if you do magically manage to exit, I don't think it makes sense to forego (any) salary if your partner is taking out a much larger amount.

But again, I don't follow the line of thinking that states investors should be paying you a salary in the early stages either way.



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