he's actually a good, honest guy (just because a businessman is strategic doesn't mean he isn't honest).
anyway, the plan we went with instead is to stay separate and retain complete ownership of our work and costs until we each meet our goals. then we join forces. my goal is to build the demos, while his is to raise venture.
having a good business partner is crucial for success. someone who knows the market, users, customers and can sell the product. no reason why he shouldn't prove himself useful just like a developer. my main point is that developers tend to be naive and agree to proposals out of respect for teamwork and simplicity. don't give up ownership too easily.