Two shutdowns. Two completely different emotional realities. One founder who lived both.In this episode of Round Two, host Jaclyn Siu sits down with Helena Fogarty — co-founder of Backable and host of Inside the Round — to talk about the moments that force founders to confront the truth: sometimes the math or the market doesn’t give you a choice.Helena shares the inside story of:The last-minute reversal from her lead angel investorCalling her co-founder to say “We’re done”Taking over as CEO of a CPG brand already in freefallHow a rebrand destroyed a $2M grocery businessWhat she’s learned about raising, shutting down, and starting againThis conversation pulls back the curtain on the emotional, operational, and financial realities of startup shutdowns — and what it takes to rebuild with clarity.About Round TwoRound Two, hosted by Jaclyn Siu, rewrites the narrative around startup setbacks, resilience, and reinvention. Subscribe wherever you get your podcasts and join the conversation.Need help navigating a winddown?Starcycle helps founders close their companies with confidence. We handle every part of your wind-down with precision, from filings and final taxes to investor and customer communications.With transparent pricing and human guidance at every step, we make closure easy and help you move forward with clarity.Get started today at starcycle.ai✨ Episode Highlights00:00 Why Round Two Exists 01:11 Meet Helena Fogarty 01:53 The Apparel Startup & Angel Investor Reversal 14:06 The Phone Call: “Hey… We’re Done.” 20:27 Founder Grief, Identity & Collapse 21:07 The Unexpected CEO Offer 24:12 Walking Into a Failing CPG Brand 25:30 How a Rebrand Destroyed a $2M Business 37:41 How to Shut Down a Company Elegantly 46:28 Why Failure Makes Better Founders

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