Startup Equity: The “FAST” Agreement

Doctors get exploited in startups because “mission” replaces compensation. Your rule: no meaningful deliverable without a contract. Equity is not a compliment; it is a priced instrument with risk, dilution, and time.

Do not work for free

If the startup cannot pay anything, you are not an advisor—you are unpaid labour subsidising their burn rate. Minimum viable deal: cash retainer + defined scope + equity on vesting.

FAST (Founder/Advisor Standard Template) — why it exists

FAST is a standardised advisor agreement and equity framework. It explicitly includes a 3-month cliff and ties equity to (a) company stage (idea/startup/growth) and (b) advisor engagement level. The framework examples include outcomes such as ~1% for an “expert” level advisor supporting an early-stage startup with meaningful monthly input.

Advisory shares vs co-founder equity (don’t confuse the instruments)

Advisory equity is typically small (often ~0.1%–1%) and tied to defined contributions. Co-founder equity is fundamentally different (often 10%+), because you are signing up for existential risk, execution ownership, and long-term vesting. If you are building product, selling, hiring, and carrying delivery risk, you are not an “advisor.”

Vesting (correctly defined)

Vesting means you earn equity over time only if you keep delivering. A common founder/employee structure is 4-year vesting with a 1-year cliff (nothing earned before 12 months; then monthly/quarterly vesting). FAST, specifically, uses an advisor-friendly structure with a shorter cliff (3 months) and a shorter vesting horizon (commonly 2 years).

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