Anyone can look like a hero in good times — but it's the bad times that truly forge Founders.

The good times mask bad behavior. When things are good, we can make tons of mistakes that simply get glossed over. It's not until the shit starts hitting the fan that we're really tested as Founders, and as leaders.

Easy to be Right With Fresh Capital

Have you ever noticed how every startup that just raised capital seems like they are doing everything right? They just hired a ton of staff, signed a huge new office lease, and paid for a big media splash to show off their stuff.

It's hard to feel like we're "wrong" when our coffers are overflowing with fresh capital. Any dumb hire we make or bad use of capital doesn't have a consequence — yet.

But wa...