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In venture, I’ve watched investors move in and out of the market in waves. Some arrive when headlines are loud, deploy capital quickly, then disappear when sentiment shifts. Others stay consistent through quiet quarters, down cycles, and the messy middle, where most companies either mature or break.
Over time, you realize long-term outcomes are shaped less by who gets early attention and more by who keeps making disciplined decisions when momentum fades.
The same pattern shows up with founders. I’ve backed entrepreneurs who did everything right on paper—strong résumé, great press, confident pitch — only to unravel under pressure.
I’ve also backed founders who took losses, absorbed criticism, pivoted when needed, and kept showing up when the odds were against them. Some didn’t “win” in the traditional sense, but I would work with them again without hesitation.
What grit actually looks like
Grit is often misunderstood as blind persistence. That version is dangerous. Repeating the same action while expecting a different result is ego, not endurance.
Real grit is the ability to adjust without losing conviction. It means refining the approach when reality changes, asking for help, taking feedback seriously and shifting direction when necessary. Sometimes it also means knowing when to stop and redirect effort elsewhere.
You can usually spot it early in small behaviors:
Do they follow through on commitments?
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