"So how can startups avoid this slump? Work on real work." Simply working hard does not guarantee any path to success, at least in the world of startups. You

"So how can startups avoid this slump? Work on real work." Simply working hard does not guarantee any path to success, at least in the world of startups. You can work extremely hard, do no "fake work", and have really great product and the vast majority of startups will still fail. You need a great deal of luck as well, ie. #rightplacerighttime, and that's something that isn't admitted by VCs whatsoever.