Three truths pre-seed founders learned in 2025

What early-stage building demanded of founders in 2025.

Leila Oliveira

Scouting Manager
December 15, 2025
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This year I asked a group of founders what building actually felt like. Not the pitch. Not the version you tell investors. The truth.

Once I read through all the stories, I realised something. We talk a lot about product, market and fundraising but the loudest patterns from this year had nothing to do with any of that. Founders kept showing me the same five things over and over again. And they point to something bigger about what it really takes to build.

Here is the truth.

1. The hardest part of building was the emotional cost, not the operational complexity

Nearly every founder described moments that had nothing to do with strategy and everything to do with self doubt, fear and identity.

The pain points were:

  • Convincing yourself the idea is still worth fighting for
  • Carrying pressure that nobody else can see
  • Feeling split between who you are and who you are becoming
  • Holding the mission even when you feel like the weakest version of yourself

The stories were raw “Convincing myself the idea was worth fighting for when everything felt like a no.” Haobo Zhang

“I kept trying to be two people. One who was building something bold and another who was pretending everything was fine.” Orrin Benford

“I realised the actual battle was with myself, not the business.” Simon Russell

What this tells us: the biggest barrier in early-stage building is not execution. It is nervous system endurance. The ability to stay steady while everything feels uncertain.

This is why so many great founders are not the loudest or the most impressive on paper. They are simply the ones who can sit with discomfort longer than others. And are passionate enough to keep going.

2. Founders stayed motivated because of people and progress, not outcomes

When I analysed the data behind what kept founders going, the numbers were incredibly clear.

  • 100% said their co-founder or team.
  • 100% said customer wins.
  • 82% said the mission.
  • 73% percent said a personal routine.
  • 73% percent said mentors and investors.

Not a single person selected money. Not a single person selected external validation.

Founders were fuelled by tiny signals of progress and the people beside them.

“Every time a customer told us they loved the product, it gave me another week of energy.” Adam Good

“My team believed in me when I did not believe in myself.” Carley Scott, OAM

“Exercise was the only thing that kept my mind clear enough to keep building.” Matt Doughty

What this tells us: Progress is not linear, but motivation is relational. This is why high-performing founders invest heavily in community. They know grit is built in proximity to other people, not in isolation.

When I asked founders what they were proud of, I expected stories about growth or milestones. Instead, they talked about becoming stronger, calmer and more courageous.

Founders were proud of:

  • Staying consistent in hard seasons
  • Rebuilding self-belief
  • Becoming better leaders
  • Trusting themselves again
  • Maintaining integrity
  • Staying disciplined when nobody was watching
This is an insight most people underestimate: Personal growth compounds faster than business growth. And usually it compounds first.

In Orrin Benford's words: “Spend as much time and energy working on yourself as you do the idea. Your startup will only grow to the extent you are willing to grow yourself. Embrace it.

3. Every founder wishes they had moved faster and thought less

Across all responses, this was one of the strongest and cleanest patterns.

Founders wish they

  • Shipped sooner
  • Validated earlier
  • Stopped polishing
  • Talked to customers more
  • Killed ideas faster
  • Acted with less hesitation

A few examples: “Build fast and validate fast. Many things make sense in your head until you get real people to try them.” Haobo Zhang

“Ship fast, do not get distracted by noises around you.” Kelvin Htat

“Do not wait for perfect. Build a feedback engine early.” Adam Good

“Be willing to kill your idea sooner than feels comfortable.” Jo Thomas

“Do not build anything. Sell it first then build it based on demand.” Reuben Scheckter

This is the most actionable insight from the entire dataset: Founders overestimate the cost of moving quickly. They underestimate the cost of waiting.

So what does all of this actually say about the way founders are building today, and what should we expect in 2026?

We are entering a year where speed will matter more than polish. Where community becomes a competitive advantage. Where founders who manage their energy will outperform founders who try to brute force their way through burnout. And where the people who stay close to customers will break ahead of those still stuck in their Notion boards.

What shift do you think we will see in founders and building behaviour in 2026?

For all press enquiries: press@antler.co

Leila Oliveira

Scouting Manager

Leila is a Scouting Manager at Antler, the world’s most active early-stage VC. She works on founder sourcing across Australia, backing ambitious people at day zero and helping them turn raw ideas into venture-scale businesses.

With 7+ years of startup experience across Brazil and Australia, she brings a sharp eye for talent, a deep understanding of founder-market fit, and a passion for building inclusive, high-performing ecosystems.

Leila is a LinkedIn Top Voice and the creator of a newsletter that demystifies capital raising and startup life for early-stage founders. She’s also a contributor to Grapevine, an initiative working to reshape power dynamics and champion accountability across the startup space.

She holds a Master of Business Administration - MBA in Business, Management, and Marketing from Brazil’s School of Advertising and Marketing (Escola Superior de Propaganda e Marketing) and an Advanced Diploma in Leadership and Management from the Australian Pacific College.

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