[late2part]

Let's see. He's the expert. He controls the money. He has the rapport with the board. Maybe he helped get a lot of the funding? Sounds like he's pulled a lot of weight so far.

Maybe he's not pulling the weight, but like a movie the other day, a Washing Machine works hard, so what.

Think through if he's benefitting the company in his total contribution. If you want more from him, ask. If he won't do it, explain it's unacceptable and go to the board.

Like badclient states, it's going to come down to perception based on asserted facts. Those facts will be interpreted through the lens of relationships.

I have been through this before, I can help if you want someone to bounce things off of real time.

[jcc80]

"Those facts will be interpreted through the lens of relationships."

This is the key point for everyone advising him to go to the board or quit and start anew with the employees. It's unlikely the board meeting will go well unless the other cofounder has done something seriously wrong. Trying to work out goals with him, as suggested, has a better chance of being productive compared to asking him to reduce his equity.