I am involved in a pre-seed project with another person. When I started this project I was looking for a person who I thought would take care of the administrative and executive tasks of the company while I handled the technology and finances. I found my cofounder, Adam, because I thought he was this kind of person.
I didn't really know Adam when I agreed to start this project with him. As I've worked with him for 3 months I've realized that for the project to succeed, it will be without him as cofounder. When we started to build the product, it went how I thought it would. However, as time went on Adam started wanting to be a more of a developer, even though he had no developer experience. We built a product together that was horrible and hacked together because half of my time was spent mentoring him and fixing his code.
It's obvious to me now that what he wants to do is different than what I wanted him for. I've built a new product from scratch, completely myself, and I've stopped pushing code because I'm frankly afraid of his drag on it and I work much more quickly without him. I know that he doesn't think long-term enough to take the company where I want to take it. Essentially, I was looking for a CEO and I see now that he is not fit to be CEO of this company. I own everything and I have to do everything myself. I own the domain, the email inboxes, the code for the landing page, the product, and all the labor that has gone into this new version. I do not know why I'm continuing to allow him to be take credit. However, I know that he feels ownership of the idea since we formed the idea together and this is the only leverage he has.
Basically the way I see it I have 3 paths: 1) Act like everything is cheery and let him take 50% of a company that I built and own. I allow him to take CEO role and I am unhappy. 2) Reduce him to a minority position, around 20%. This is basically just a consolation prize, because he was around and provided "moral support" through the first iteration cycle of a failed product. I don't even know what his role will become, maybe "community manager." 3) Separate from him. Basically tell him that he is no longer involved in the project. The project is mine, I own the assets and built the product. We don't sign a non-compete and he can take my code once I publish it and fork the project if he wants. I don't care.
Overall my largest dilemma is that I know he's bad at organizing work priorities, has personal weaknesses that makes him a bad leader, doesn't engage in the same form of long-term thinking that I do, lacks overall project vision that is ambitious enough, and requires a lot of nurturing from my end. I've changed my mind about wanting him involved.
What can I do?
Am I being sociopathic / anti-social by thinking all this?
EDIT: No legal contracts, verbal commitments and emails up to this point has made clear we plan to split equity 50 - 50 in the case that an entity was formed. Locale is the EU.
EDIT2: I added the "unlucky" descriptor because he went broke 1 month into the project because he had mismanaged his personal finances. I did not know this at the time. It was overall detrimental to the project since it put an unnecessary burden on us to raise funds before we had reached the right maturity to do so. Because of this, I've also been working full-time on this while he's taken a 30/hr week job at another startup. He was supposed to continue working but all he's done for the last week has been send some emails.