B. Sovereign

The Bitlemmas Podcast – "Slicing Pie: Fair Ownership Without Fantasy Valuations" Host: Watson | Guests: B. Sovereign & Drew Breaking down Slicing Pie by Mike Moyer, the must-read book on startup equity Why fixed splits (50/50, 33/33/33) feel fair but almost always backfire solution: a dynamic contribution ledger that tracks inputs over time instead of locking in ownership upfront - The concept of "fairness debt" — the invisible gap between what people feel owed and what they actually get - How the Grunt Fund works: hours, cash, and assets converted to equity using risk-based multipliers (2x for unpaid time, 4x for cash) - Real-world parallels: startup horror stories, music industry exploitation, and lessons from underwriting Key insight: you don't need a valuation — you need agreed-upon conversion rules Closing provocation: consent doesn't make a contract fair Follow along at bitlemmas.com