Earlier quoted context omitted.
edgeztv - here is a chance to join a YC funded startup building a kickass product and be pretty much employee no: 1 ie a cofounder and you are cautious about salary. Grab this kind of opportunity with both hands - pete and his team are a smart bunch with an awesome idea. Salary considerations ahouldn't be in your head when you are assessing the opportunity. Isn't $50k nough to live off?
I don't care about the salary - I care about the stock, which, if you read carefully, is the focus of my question :) I would be happy on 50k if I had say 10-20% of the company. I would not be happy with 50k, however if it was 5% or less. (Of course this all also largely depends on the idea, which I don't know about yet)
In retrospect, phrasing it in terms of salary and stock was the wrong way to frame that question.