I'm in a same situtation, maybe worse as this guy: Developer, offered share in small startup company in return for large rate reduction - advice needed
Two friends had an idea, they were kinda working on it for few months then invited me for 5% of the share and I joined them. At that point when I joined we had nothing really - just an idea and a business plan in development. I've already spend 6 months now developing the product for free because in the start I believed in it and we almost had investors (one investor was really interested). But from then on we had a lot of "interested" investors but no one actually did invest. I was promised 5% share in the start but now I'm thinking about if all that free work for almost half a year is worth it.
We did launch the product actually, and we're getting traction slowly. But I had a job which payed well (but was kinda dull). And now I'm spending my own savings for 5% that some day may be worth something.
Should I request bigger share, wait a bit longer or leave maybe? I can't decide. I really think this could turn into something great but I don't think I'll still be motivated by that 5% in few upcoming months.
Any thought on my situation?