In Silicon Valley, we’re told that every founder needs a cofounder. But is it true?
Y Combinator Co-Founder Paul Graham puts “Single Founder” as his number one reason that startups fail:
What's wrong with having one founder? To start with, it's a vote of no confidence. It probably means the founder couldn't talk any of his friends into starting the company with him. That's pretty alarming, because his friends are the ones who know him best.
But even if the founder's friends were all wrong and the company is a good bet, he's still at a disadvantage. Starting a startup is too hard for one person. Even if you could do all the work yourself, you need colleagues to brainstorm with, to talk you out of stupid decisions, and to cheer you up when things go wrong.
And YC—along with many other VCs—put Graham’s preaching into practice: currently, only around 10% of YC companies have solo founders. Some accelerator programs require cofounders or you can’t apply.
Let’s stop and ask ourselves—why? Why is it that while we praise tech CEOs as visionary founders, we simultaneously push for a “two-person rule” to start a company?
Cofounders can be game-changers when they’re the right match. If you’ve found someone you trust fully, someone whose strengths truly complement your own, then yes, you’ve struck gold. A great cofounder balances cognitive biases, brings insights on whether to pivot or persist, and rides the emotional roller coaster with you – and gets lots of work done!
The problem with Graham’s dogma is that it ignores (1) the downside of the wrong cofounders and (2) that there are other ways of getting the benefits of a strong, supportive team.
What about cofounder “matches” that are forced? You know, those arrangements made after two coffee dates, without the tough conversations, without a real understanding of each other’s goals, conflict styles, and decision-making frameworks. Or even the more considered arrangements, after collaboration, pre-mortems, mediated conversation and a trial period of working together to make sure it’s the right fit. These “founder marriages” imposed by investor demand often don’t work out, yet they come with a steep cost—half the company given away before the real work begins, not to mention the drama and distraction of a probable breakup.
Even with vesting, is that worth the risk?
Look at unicorns. Nearly 20% were built by solo founders. These founders didn’t waste months trying to find a cofounder. They poured energy into customer discovery, product-market fit, and team-building on their terms. They found their #2 later, once the foundation was in place. As a result, they paid less in equity to build their team.
If you don’t have an obvious partner, skip the search. You don’t need a cofounder to validate your venture. You need traction.
Talk to potential customers about their problems, until you consistently find people thrilled to pay for a product that doesn’t yet exist. Build out a team with smaller equity stakes. Grow into a cofounder-like relationship with key team members when it aligns with your vision and trajectory, not because Silicon Valley says you “should.”
Purpose Built venture studio supports founders with ideas, coaching, resources and capital to turn good ideas into great companies. We focus on fintech, upskilling, and the future of work – and are the best early-stage partner for solo founders.
Email at start@purposebuilt.vc to learn more about how we support solo founders in building traction.
