tommartin12

we have a company and I own 70% of the shares, he owns 30%.

So that is a contract if you will.

not really possible, he doesn't have the money.

I had my reservations before we started about the remote arrangement, but started anyway.

The thing is that he is good at his chosen field of technical expertise(with years of experience in big companies), but I am finding out that if he needs to learn new technologies quickly, it is a huge struggle.

At this early stage of a startup before we have scaled, the leaving of a co-founder is likely a bad signal that would scare away any investors.

I suspect that this might be part of the problem, he has mentioned that he would like to re-negotiate the equity split. However, I feel like giving him a larger proportion of the company to solve a motivation issue is not the right thing to do.

i put in 70% of the capital, he put in 30%.

no contract, we talked about shareholder agreements but nothing put in writing.

I have asked him to move temporarily, after months of "nagging him", he has agreed to come for a month at a time.

But I feel like it's kinda self-defeating, I should not have to nag him to get him to do this.

1. Yes, but it is a chicken and the egg, he is not willing to move unless we can raise funding, but... Most investors will not invest unless we have the whole team together.

2. Yes, we are still going full steam ahead, but I just have this nagging feeling that it will not end well.

3. He is very private about his personal life, there is a girlfriend in the picture which factors into his reluctance to move.

4. Yes, formally started.

5. 70/30, I have 70

6. No revenue yet, it's a consumer based startup, so free product at this stage.