Show me a startup that was once hot and I'll show you a Founder that got totally distracted by their own bullshit. As Founders, we're in the business of making dreams come true — particularly our own — so when everyone around is telling us how amazing we are, it's really hard to wake ourselves up and realize none of it is real.
Once hot startups all had a moment when everyone was praising what they did. The reason they are "once-hot startups" is that in the very moment they needed to be the most focused, they went off track believing their own press. It's a challenge that as Founders, if we understand, we can put ourselves in a position to avoid altogether.
When things are going well, we assume we've finally "made...