Jason M. Lemkin explains why most startup founders hit a brutal rough patch. Stewart Butterfield's first company failed, but he pivoted to Slack, which sold for $27 billion. The founders who win are the ones who don't quit.
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There's a few that I know, I remember I asked Doug Song, who founded Duo Security, which Cisco bought for a couple billion, I'm like, what was your rough year? Well, actually we didn't have one. He's the only one. But everyone else, every other founder I've ever asked on stage, you know, Stewart Butterfield, Slack. Slack almost failed as Tiny Speck, it started off as Tiny Speck, they lost all the money, right? But they didn't quit, they built Slack as a side project. Stewart offered to give all the money back to Andreessen, you can just Google this. He said, we failed at Tiny Speck, you want your money back? Andreessen said, this Slack thing looks pretty good, you're a good founder, go do it. Don't quit. Didn't quit. Had a $27 billion exit, right?