[jacquesm]

> I feel we could be using the same massive comp to reward or hire people who are actually high performing.

That's above your paygrade.

> 2, equally if not more important, co-founder or not I worry about the cultural weakness we get in to by just "burying" or ignoring a low performer.

You didn't hire this person, they hired you.

And he may be a low performer in your view but he obviously did something right because he got the company to the point where they could afford to hire you.