For the past year, i’ve been working with my co-founder on a start-up. We split the company 51%-me and 49%-him. Both of us were employed until now, doing the startup along with our job.
My co-founder brought in an investor now and wants to go full-time on the startup while I will still be working in the other business. (My opportunity cost to leave my current business would be much higher than his.)
While he is going full-time, he would get a fair wage from our company (which is part of the investment). At the same time, I wouldn’t get any compensation since I’m still working for the other business and doing the startup on the side. That to me is fair and the way it should be.
He informed me that he and the investor want to change the equity structure from 51/49 to 60-him/30-me/10-inv.
I don’t feel that’s fair since he gets paid for the job he is doing at our company. Am I wrong? Any advice?