[quickConclusion]

We're talking about a small consulting shop here at the start, where the paycheck comes form the actual work. Makes a lot of sense. No VC would touch that kind of business at that point anyway, not scalable.

Even later on, once they have a product, why would you change that? 50-50 is great, since you need both parties to agree to do something, which is essential in a small business like this.