Originally Posted by Curtis2011
I'm not a freelance web developer, but from what I've seen and heard from others, this statement is perhaps the single most annoying thing a freelance developer can hear. The reasons are 1) nobody likes working for free, 2) most good ideas never turn into good products anyways, 3) people's "good" ideas tend to be a lot worse than they themselves believe, 4) the company owner usually wants to be in creative control but not actually do any work himself, and 5) freelance developers get requests like this all the time, mostly from people who are brand new in the web development arena and thus are idealistically over-optimistic about their project, often having no real idea what they are doing.
In other words, you might be able to find a developer who is new to the freelance scene and has not learned the wise experience "don't work for free" yet. However, my guess is that most experienced web developers will completely ignore you, unless your pitch is so amazing that they themselves actually want to become a part of what you're doing.
Also out of curiosity: just how much work has to be done before you have a working prototype? Would it really be that expensive to pay for it yourself?
Is this a massive project (eg build a new facebook) or small project (eg build a funny flash website)?
I understand what your saying and is this answer i expected to get. Being that this is my first entrepreneurial project, I expected to get the overall impression that my idea was not as good as I was thinking it was. However, Investors seem to be just as excited about the project as i am (I do take this with a grain of salt).
Its quite a large project. the niche is in the entertainment industry and involves the sharing of all multiple types of media. I went to investors projecting i could have the site built for around 50k but they laughed at the thought and figured it would take around 2 million over the course of 3 years before we started to see returns.
I am considering taking the investment, but i feel i will get burned giving up an 80% share. lots to think about.