The post was originally published in Polish on Szymon’s LinkedIn profile. Szymon kindly agreed to republish what we think is of great value to our readers.
A founder ended up in a mental ward because they could not take the pressure. A founder went bankrupt and had to leave the country. A founder attempted suicide, which they never admitted to anyone for a long time. A founder didn’t earn money for two years and then couldn’t find a job. A founder put all eggs in one basket and lost…
Szymon Janiak, Co-Founder and Managing Partner at Czysta3.VC
This is a thought that comes back to me regularly. I am writing about it again, on the basis of the feedback I receive. Operating for a decade in the field of venture capital, I have seen hundreds of incredibly difficult stories on the Polish market. Unfortunately, they don’t make it to the media or social networks, because even their protagonists want to forget about it as soon as possible. A veil of silence is drawn over it. Not much is left of the dream of being a unicorn, and startups disappear in silence.
Awareness and contact with such events have radically changed my perception of the entire tech scene. Some people remain indifferent to it, but a bit of empathy that failing startups are people – not numbers, changes the perspective a lot.
The common image built on the basis of the cult of success, the permanent cultivation of this stage by the actors has little to do with reality. Thanks to this, I gained even more respect for the founders, seeing how neatly they can combine the effort of what they do with the passion for creation. Technological innovation is a unique industry – if you want to take an active part in it, you need to have the right mental structure. Contrary to the popular narrative from rags to riches – many people who really succeeded paradoxically did not do it for the money.
This is not a path for everyone and it is definitely not a bed of roses. The motivation here will be different, often extremely peculiar. Once again, with great respect to the founders for what you do – best of luck!
The comment section has to add:
It sounds a bit like professional sports – thousands train, but medals are only for a handful. Hard work alone is not enough either – it depends on predisposition, luck, coaches, and the strength of the opponents. In sports, we use biological possibilities, in VC many compete against players financed with hundreds of millions. The question is whether it makes sense to practice such an unequal sport in Poland.
– Pawel Stezycki, Principal Consultant at Spyrosoft
Early failure is the startup’s greatest ally. It is not being an entrepreneur that generates the problems you write about, but the lack of quick verification and the fear of failure.
Maybe this is where women find it easier – we verify our theses faster and are able to change direction until we find PMF.
– Dagmara Lacka, CEO at Flow City
How about we go beyond founders with this thesis? A founder led to a mental breakdown of a key person in the team or, in an extreme case, effectively led a team member to taking their own life. The pressure for success and result, often heated by investors, gets ‘delegated’ down the chain of command even in a situation where the structure is as flat as it can be. Many founders want to enter the millionaire club in a short time, and many investors want to trumpet success at the next round or exit at all costs.
– Przemyslaw Janus, CFO at FinAi
What you describe is not only the problem of the falls themselves, but above all the social consequences they bring. In Poland, failure in business is still stigmatized, and a founder who has fallen is often sentenced to ostracism. In the US, an unsuccessful businessman is treated as someone who has gained valuable experience, who now better understands the risks and difficulties of the market, and thus becomes a more valuable entrepreneur. In Poland, unfortunately, failure is often the end of the road – it is our mentality that harms founders more than the collapse of their company itself.
There is no room for making mistakes, and these are an inseparable element of development and innovation. Instead of valuing people for their courage, passion, and determination, society focuses on the stigma of failure. This type of perception can make potential founders afraid to take risks and try new things, because failure can mean social exclusion and not a step towards future success.
Founders deserve support and understanding, not only when they are successful, but also when they face difficulties. After all, it is from such experiences that innovation and tenacious leaders are born.
– Bartosz Obermüller, CEO at LEA24
Szymon Janiak is an investor and a business-driven Managing Director at czysta3.vc, a Venture Capital fund located in Poland. He has over 10 years of experience in the technology sector. Szymon is also a Member of the Supervisory Board at stockbroker Grupa Trinity S.A.
