It's a fancy title, but don't let that tempt you against your good judgement. The founders of a lot of technology startups go out and hire an outsider to be the CEO. Google is a good example. Even Steve Jobs hired a CEO in the early days of Apple.
If you're in the very early days, then just put Founder as a title for all founders. You don't need to get into conflicts too early.
So having a ceo as the guy who brings together everything is a good way to establish responsibility and SOME structure in the startup.
I will say that while most ceos of big companies don't spend much time coding, for 2-3 person startups it is very common to find the ceo doing coding and/or designing IN ADDITION to business work.
You're the guy that takes the heat if something is not going well. Especially at a small company, if someone is going to get chewed out by the customer, its going to be you. It often means you have to stay later and work harder than everyone else.
So. With power (the final say) comes alot of responsibility.
So who should it be? It probably depends alot on the business but lots of styles could work.
