The Founders' Stack

Ashish Kulkarni

Founder Stack is where founder psychology meets startup capital. Most content tells you what successful founders did. We go deeper. We explore why they made those decisions, how they thought, and what it cost them. Then we connect that to the numbers: funding strategy, investor psychology, and the capital mechanics that determine whether a startup survives or scales. Our thesis is simple. The psychology of a founder predicts their funding outcomes. Every podcast episode goes deep with founders who have lived the full arc. The obsession, the fundraise, the scaling, the exit, and what comes after. No highlight reels. Just the real psychological and strategic inflection points that shaped the outcome. Founder Stack is also home to two newsletters, Founder's Psyche and Founder's Capital, and a growing suite of tools that help founders assess their psychological risk profile and capital readiness. Subscribe if you want to understand the real architecture of startup success.

Episodes

  1. Apr 29

    6 Startups, 4 Exits, $400M | Peter Hwang | The Founders' Stack EP02

    Peter Hwang's parents ran a Baskin Robbins in Canada. 365 days a year, 10am to 10pm, including Christmas. That was the life he grew up watching — and the life he spent 30 years trying to make worth it. Six startups. Four exits. One collapse that cost him everything at the worst possible moment — a pregnant wife, a second mortgage, a term sheet that vanished overnight when 2008 hit. But that is not why I wanted to talk to him. I wanted to talk to him because he stood at a kitchen window watching his six-month pregnant wife dig a trench for a pool they could no longer afford, and had to walk in and tell her they had lost everything. Because what she said back to him is the only reason he kept going. Because he then rebuilt — quietly, methodically — and had two life-changing exits back to back. And because the framework he built around all of it is something every founder needs to hear. This conversation goes into what it actually feels like when your company and your identity are the same thing — and one of them disappears overnight. Resilience. Co-founders. Market timing. And why staying in the game long enough is the only strategy that compounds. WANT TO BE FEATURED ON THE FOUNDERS' STACK? Fill out this form: https://forms.gle/rdanBJKPmSKSPEiy8 READ THE FULL NEWSLETTER PIECE Founders' Psyche: https://founderspsyche.substack.com/ Founders' Capital: https://founderscapital8.substack.com/

  2. Mar 10

    Soviet Doctor to Energy CEO | Alexei Beltyukov | The Founders Stack EP01

    The conversation with Alexei Beltyukov explores the journey of rebuilding oneself after facing adversity, depression, and personal challenges. It delves into the themes of resilience, honesty, and the nonlinear path of personal growth and transformation. Alexei's journey from a medical doctor to a serial entrepreneur in Russia and the US is a testament to psychological elasticity and the ability to adapt and thrive in the face of adversity. The conversation covers Alexei's journey through various business ventures, the impact of a controversy with the Russian state, and the development of his current venture. It also delves into his mindset as a founder and his approach to honesty and self-awareness. Takeaways Resilience in the face of personal challengesThe importance of honesty and self-awareness in personal growth Honesty and self-awareness are key to Alexei's approach as a founder.The journey through various business ventures and the impact of a controversy with the Russian state shaped Alexei's entrepreneurial journey.The development of his current venture and the challenges faced during the war in Russia are significant aspects of Alexei's journey. Chapters 00:00 The Journey of Rebuilding19:06 The McKinsey Experience27:14 Working Alone34:08 Struggles with Depression and Recovery39:08 The Default State: Rapid-Fire Questions45:38 Journey of Current Venture and Impact of War56:21 Fundraising and Founder Mindset01:02:33 Future Plans and Conclusion

About

Founder Stack is where founder psychology meets startup capital. Most content tells you what successful founders did. We go deeper. We explore why they made those decisions, how they thought, and what it cost them. Then we connect that to the numbers: funding strategy, investor psychology, and the capital mechanics that determine whether a startup survives or scales. Our thesis is simple. The psychology of a founder predicts their funding outcomes. Every podcast episode goes deep with founders who have lived the full arc. The obsession, the fundraise, the scaling, the exit, and what comes after. No highlight reels. Just the real psychological and strategic inflection points that shaped the outcome. Founder Stack is also home to two newsletters, Founder's Psyche and Founder's Capital, and a growing suite of tools that help founders assess their psychological risk profile and capital readiness. Subscribe if you want to understand the real architecture of startup success.