If they are actually your friend, why are you not looking out for their best interests?
Whenever this topic comes up I always feel like I'm in some weird Silicon Valley Twilight Zone where "friendship" is some sort of code for "people I have access to exploit when necessary"...
The falls well below the bar for friendship in my book. Are you comfortable letting your friend agree to a salary significantly below their worth? Are you comfortable excluding your friends from potential upsides of your shared endeavours? That's at best a coworker, not a friend.
