When I was in the VC world, the founder's salary vs. equity demands were usually used to gauge how invested they were into the company's vision and concept. If the founders spent a lot of time penciling in $200K+ salaries, elaborate bonus and commission packages, and exorbitant perks (a $5K/month 'car allowance' was my personal favorite) for themselves, then it was a definite red flag. If instead they were willing to take modest salaries but fought hard for equity, you knew that they truly believed in their idea and were fully invested in the concept.