What would you call a "fair" startup equity split between 2 persons where one of them is putting 100% >250K USD of the capital needed and the other one is putting 100% of the knowledge and contacts.
Both are going in with 100% percent of their time and dedication and depend on this startup as their living.
The startup has a high probability of success given the circumstances and type of business.
Whatever the two involved agree is fair. Without being able to judge the relative value of each to the company's future success I don't feel folk are in a position to judge. If there is to be success then they should be able to negotiate their first deal/agreement.