A founder walks into an all-hands meeting running the best quarter of her company's life, and realizes mid-sentence she has nothing left. Not tired. Empty. In this episode of Year One, Miles and Grant trace her burnout from month four to month nine, anchored in CEREVITY's shadow burnout research showing 73% of founders experience persistent exhaustion while still hitting their targets, and Sifted's 2025 survey finding only 6% of founders reported zero mental health issues. A therapist who works exclusively with founders breaks down the three clinical markers that separate burnout from high-functioning stress, including the identity fusion trap that makes asking for help feel like admitting the company itself is failing. The episode also examines what YC partners actually observe when a founder starts deteriorating, and whether investors are structurally positioned to intervene, with early efforts like Felicis Ventures' 1% Founder Development Pledge and the foundermental.health clinical survey offering a partial answer. There is no clean resolution here. If you are a first-year founder who has been performing fine while feeling nothing, this one is for you.