Got a small app that just started it's seed fundraise and a childhood friend decided he wants to help. He's well connected in Saudi Arabia and has $10B+ aum in private family funds. He wants to take control of the full fundraise and for that he wants 10%. Here's the punchline. He doesn't want to be held accountable for any of the metrics. He doesnt want to present his game plan in front of the founding engineers, he doesnt want to set milestones and doesnt have any concrete solutions. He doesnt even want to compete with the other VC lawyers that are eager to impress us. Yet, he thinks he's got 10% coming to him. In contrast, the AI PhDs that have been in the space for 25 years, have 30 patents and worked for all the competition, has 27 papers, a 9 page long resume, asked for ZERO equity. They delivered a pioneering product and also bring other talented AI researchers from Japan and Taiwan. I literally asked him what does he think the 10% is worth, and he said zero. Real cute.…