Other technical cofounder and I feel that third guy, non-technical, is not pulling his weight at all, doing bare minimum, not expanding his limited domain knowledge or current skill sets, etc. He’s just coasting on the fact that he spent last two years building a social media based “brand” (account) related to our project. We’ve determined it’s worth to be at most $1000, since similar sized social media accounts go for this price. We know: we’ve bought some.
We wanted to reduce his 1/3 stake down to 5%-10% but he refuses, and he won’t negotiate selling us the brand if we leave. We’re not yet at MVP, but already resentful that we’re hacking for weeks and he hasn’t really done any of the social/community management or product space research that was expected of him. We have brought this up many times over the past few months but his behavior has not changed.
We have already tested waters and feel we can create our own brand. Should other technical guy and I start from scratch? How do we even determine how much someone’s effort is worth? Or a brand for that manner, one that is not yet bringing any real revenue?