Yeah, I've been burnt badly by that before.
Which is part of why my founder co-matching profiles mention that I'm looking to spread the equity wealth around among early hires, more than is usual.
If a prospective co-founder is turned off by that, without a really compelling reason, then we'd probably clash on other values as well. And I'd also think there's a good chance they'll backstab me when they think they can.
Ah selection bias is the best shield when being used correctly.