[swombat]

If you go without salary, while the other people don't, and get IOUs, but the company goes bust anyhow, you'll be out of pocket but the other people won't. You're taking more risk; why not have more upside?

No one is suggesting that anyone gets a nice, ample, plush salary. This is a survival salary (anything more should not be allowed until the company can pay all founders). If the startup goes bust, a poor founder working 1 year on survival salary is no more "in pocket" than a wealthier founder working 1 year without salary. The valuable thing that they've both lost is a precious year of their life.

And if the startup has enough money to pay everyone, it makes no sense that someone would get more shares simply for taking less salary out. That's not what shares are for in an early startup.