[stevengraham]

Forty-something former CTO here. Just tell them what you want clearly & concisely.

Do you want cash or equity? From your description it seems clear that you don't believe in the team or mission, so presumably value equity at zero.

Since you mentioned "my team and I" - I'm assuming you're running a dev shop or work with a few freelancers open to this type of work. If so - You could do something like giving them a one-page proposal for a 1-3 month MVP "sprint series" to "help them validate their concept" (at your current rate).

Don't "feel bad" for putting your desires first. It's the right thing to do. Also, don't judge them. I've seen some real underdogs pull through (it's rare so don't bet on it).