Why do the technical people always seem to get the short end of the stick? I have people approaching me on a monthly basis with their 'great idea' and 'all I need is someone to code it', and compensation varies from 'money when it gets big' all the way up to a very enticing 20% equity. After working on a few of these I now ask for cash up front, no equity. I have plenty of my own ideas and not enough time to work on…
Heck as far as I can see I can't see the value of the business person at all, except for whatever connections he has. Now I am biased, but why would one go into a partnership with a business person in the first place.
If he can't convince a guy who doles out capital for a living to give him a tiny bit of it, why should he expect a programmer to front him that value in highly skilled labor?