Most people assume it's the strategy.

Or the product.

Or the money.

Tej Dhawan has a different answer:

Culture.

In this clip, Tej shares a hard-earned lesson from years of working with founders and early-stage companies.

Strategy can be reset.
Products can pivot.
Capital can be raised.

But when trust breaks inside the founding team, the company is often already in trouble.

The best founding teams are brutally honest with each other.
They are vulnerable.
They tackle hard truths together.

Because once the original trust disappears, the original spirit of the company often disappears with it.

If you're building a company, this conversation is a powerful reminder that culture is not what gets tested during adversity.

Culture is what determines whether you survive it.

🎥 Watch the clip.

🎧 Listen to the full episode on Capitalist Culture®: https://www.capitalistculture.com/