Would you employ someone in exchange for equity?
lethain: Do you want this individual as a co-founder?, because that is essentially the role they would be stepping in as. At minimum you would need to write a solid vesting plan of some kind, to prevent the individual from quitting in a month and taking the equity with them.That said, I would be somewhat suspicious of the situation where someone is willing to work for only equity. Are they already independently wealthy? Are they having trouble finding paying employment?