As a founder, you might reach a moment when you realize your startup is going to fail, and it's crucial to face that truth instead of living in denial.

Avoiding the truth about your startup's situation can lead to failure; if you lie to yourself, you will ultimately lie to others.

Miyamoto Musashi said, 'Truth is not what you want it to be; it is what it is.' You must accept this truth or risk living a lie, as I did with my startup Posturous.

In 2010, despite two years of rapid growth, I failed to accept that our startup's growth had plateaued, which ultimately led to our downfall.

When faced with a harsh reality, like a startup's decline, it's essential to change your understanding and adapt your business model accordingly.

At Y Combinator, we emphasize the importance of not dying as a startup, which means confronting the beliefs that could lead to failure.

Overcoming the fear of failure allows you to commit to the truth about your startup's situation and make necessary changes.

It's challenging for founders to return to reality after being immersed in a dream of success, especially when the market changes unexpectedly. Founders must confront hard truths about their startup's reality instead of living in denial about their potential success.

It's crucial for founders to understand the 'idea maze'—the history of what has been tried before them—to avoid repeating past mistakes.

You need a unique approach or reason why your startup will succeed, whether it's technology, customer relationships, or market understanding.

Surrounding yourself with independent thinkers who challenge groupthink helps develop accurate mental models, enabling you to act on reality and create impact.

The real magic happens when you transition from an individual's Dreamland to creating reality with a group of your smartest friends.