Do I have any investors here who are familiar with the slicing pie equity model - what do you think of it?

I'm creating a startup and have been working with a new co founder recently. He likes the slicing pie model for equity. In short it is:Tracking your hours, investments into the business + giving yourself an hourly rateIt's all kept and tracked on a spreadsheetThe equity split is dynamically calculated as hours are added over timeIn theory I understand why he likes it, it makes sense, but I worry it is a distraction and a little petty. I would prefer to sign a brief contract for this stage of the business (we're both doing this on the side of a FT job) and agreeing to do X hours per week, with an outline of responsibilities, for X equity.However, I am not at all experienced with equity split, this is my first time. I am also concerned that investors will not like a fluid cap table, and think slicing pie is a waste of time and find it off-putting. One alternative could be to use slicing pie up until we secure our first chunk of funding, in which case the equity locks in.A small concern I have is that, because I am non technical and we haven't built the MVP, he will work a lot of hours and that will accrue more equity than I, who has spent 6 months and many hours validating the idea/generating a waitlist etc. Not all hours are created equal, I might make bigger moves with those hours if that makes sense (or visa versa of course).What do you think - would you or most investors find it off-putting? What is your ideal split between 2 co founders at very early stage?Thank you! see hubwealthy.com/wealthy