The most overrated quality in a potential cofounder is experience. The most underrated is not flaking.
All other things being equal, family members do make good cofounders. This is an instance of the more general rule that it's good to have cofounders (a) you've known for a while and (b) that you're tied to by more than the startup.
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But you also have to be careful of a sort of nepotism that can bias your choices in the case of family members. You don't want to pick your brother just because he's your brother. But if you have a bunch of equally promising candidates and one is family, pick that one.
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Why is having cofounder so important? There have been single founder companies that are extremely successful than the ones with cofounders.
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Morale. Starting a startup is so hard that not many people can bear it alone.
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Choosing a family member clearly worked for you and your wife. But I’ve seen this cut the other way. Startups are so intense they become the dominant theme in the relationship. So you’re kind of giving that relationship over to the startup.
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