One interesting thing to look at is the possible losses via a little game theory.<p>No Cliff -  Risk is that one founder sucks for a year and then takes some equity (2, 3%? How much vested in the first year anyway). If company goes for billions, you make a few million less - basically a rounding error.<p>Cliff - Risk is the controlling founder fires the non-controlling founder on day 364, but company still goes on to succeed. Loss is the non-controlling founder loses a year of his life where he worked for equity that was stripped from him.