[frugalfirbolg]

Instead of including hours in the equation, the team can a high level overview of action items and assign points based on their value to the team. Action items would include features, contacts, capital (funds and tools), and anything else that pops up at the meeting. Higher value items are automatically prioritized.

My concern would still be that the team is essentially guessing how valuable a given contribution is going to be beforehand. Even with industry experience it can be hard to know how much impact that new UI feature will have vs establishing the partnership with so-and-so.

I think some of the risk (of over incentivizing) could be mitigated by having only a set amount of equity distributed dynamically, and have a clear definition of the lock in point where the equity is no longer dynamic and is actually assigned. Also include your typical clauses for whether or not someone that left before lock-in point receives equity. This can be handled separately from what you get for bringing cash to the table.