A few days ago I received this text from a founder we backed:

If you’ve been investing for a minute, you know what that means.

We jumped on a call. My suspicion was right: He was shutting down the company.

Even when it doesn’t work out, I have a lot of admiration for founders that bring something new into the world and put in the work, because I know the sacrifice required.

It’s hard to truly empathize with this struggle unless you’ve been there. The really bad stuff founders face is rarely shared in public.‍

This study shows that entrepreneurs self-report dramatically higher rates of depression, ADHD, substance abuse, and bipolar disorder. Of course, this doesn’t imply causation and we don’t know which came first: mental health challenges or the company. But it highlights the reality of many founders.

I’ve faced many challenges building Product Hunt, most of which I haven’t been able to share. A large company threatened to sue us before we raised a dime. An internet mob attacked the company and my character. We almost ran out of money after a sea of investors told us “no”.

The hardest part: Maintaining a smile and instilling confidence with my team, investors, and the community while my internal monologue is filled with doubt and dread. The dissonance between the internal emotions and external mask is agonizing.

And other founders have had it much much harder than me.

The experience can be traumatic and lead to debilitating anxieties. The body doesn’t want to go through it again, and as a result many founders become hesitant to swing again.

Ironically, starting a company the second time can be harder than the first.

‍“UGH! That really hurt.”

First-time founders are often gifted with naiveté. They may have heard about how hard it is to build a company, but they don’t really know. They haven’t felt it yet. Like a child who’s unafraid to pursue daring stunts on the playgro