I'm not sure "In my experience" suggests the OP is unaware of what he's talking about, in fact, quite the opposite.
Let me clarify this for those not in the know:
Unless you're in the business of selling design services, under no circumstances should you ever hire a full-time staff designer, never mind considering them for an equity-sharing position at the outset of your enterprise.
If one doesn't know what should and shouldn't be hired for in the early stage startup, one shouldn't be wasting their time pontificating about it. OP is a moron.