[cHalgan]

I completely agree that startup should minimize chance on hiring wrong people (that is reason I'm arguing that pay in startup must be market rate (no 20% less as many startup try) - otherwise your are gambling with the most important asset you have).

Yes, without a portfolio, you're guessing, but the problem with requiring candidate to have portfolio is that you will narrow the search to consulting/freelancer group which might not be the best pool of candidates.

Also many intelligent people which had startups or consulting end up working for corporations (Comcast, Apple, Oracle, etc.) because... because they are very very good and corporation pay with gold to get these kind of guys.