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I would nope the hell out of there.

1) You are not convinced the idea is disruptive/feasible enough

2) They want YOU to do all the work, yet only give you 1/3rd equity. What do they have to bring to the table? Probably nothing.

3) You don't need them. Ask yourself: would I build this if I would get 100% equity? Since you also have plans of your own, the answer would most probably be no.

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Your second point definitely strikes a nerve, because I keep thinking about that. They came up with mockups. I'm not sure if that's where their work stops - aside from making phone calls and throwing around ideas. I have their best interest in mind as well as mine, but I don't know if they're splitting up the equity in proportion with how much work I'd have to do to make their idea a reality.

Great points.

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