Founder and CEO Claudia Helming shared this message on the company’s website: I certainly was.”Īt DaWanda, stagnation in both growth and team interest led to the company’s eventual closure. “I think people are unprepared for how hard and awful it is going to be to start a company. Various founders have spoken up about how damaging burnout can be.
“The prevalent view of startup founders in Silicon Valley is a delusion that in order to succeed, in order to build a high-growth company, you need to burn out.”Īmid the pandemic, burnout became even more prevalent among tech workers: 68% of tech employees said they felt more burned out working from home, according to a survey by Blind. As former Uber board member and CEO of Thrive Global Arianna Huffington puts it: What can make conversations about burnout difficult, especially in Silicon Valley, is the widespread belief that building a successful company will always involve some degree of possibly hazardous overwork. The ability to cut your losses where necessary and redirect your efforts when you see a dead end - or lack passion for a domain - was deemed important to succeeding and avoiding burnout, as was having a solid, diverse, and driven team so that responsibilities can be shared. Burnout was given as a reason for failure 5% of the time. Work-life balance is not something that startup founders often get, so the risk of burning out is high. It’s worth noting that this type of data-driven analysis would not be possible without a number of founders being courageous enough to share stories of their startup’s demise with the world.
But many very relevant lessons for anyone in the entrepreneurial ecosystem. There is certainly no survivorship bias here. From lack of product-market fit to disharmony on the team, we break down the top 12 reasons for startup failure by analyzing 110+ startup failure post-mortems.
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