#2 is what code jockeys want to see and the natural way for a coder to measure initiative is in lines of code. What non-technical founders don't seem to realize is that you can begin building the product without writing code: - Make a landing page. - Do A/B testing on marketing and company names. - Talk with customers. (this is huge) - Weigh the pros and cons of different business models. - Tied in very closely with the above but plan features. - Do everything BUT the code.
In other words, execute.