In marathon running, a "negative split" is the strategy of running the second half of the race faster than the first. It’s counter-intuitive, it requires immense discipline and it’s the hallmark of elite performance.

It is also the perfect metaphor for building a company.

The early days of a startup are fuelled by adrenaline and novelty. But the real test - the "second half" - comes when the initial excitement fades, the hours compound and the complexity of scaling sets in.

In our latest report, "The Negative Split", Notion Capital General Partner Itxaso del Palacio and her team surveyed over 100 VC-backed founders to understand the data behind endurance.

Inside the report, you’ll discover:

• The Paradox of Scale: As pressure rises, confidence actually increases. Founders leading larger teams (Series A+) report higher mental and physical health scores than those at the Pre-Series A stage.

• The "Quiet Engine" of Motivation: Why explicit, goals-driven motivation eventually burns out, and how elite founders tap into "implicit motivation"deep-seated emotional drivers—toreplenish their energy.

• Intensity is the Baseline: Over 40% of founders work 60+ hours a week. Yet, endurance isn't about working less; it’s about adapting to the load. The report reveals how top founders use data, not guesswork, to manage their energy like elite athletes.

• The "Leaky Bucket" of Support: Why 50% of founders rely on friends and family to stay sane, and why many are turning away from "toxic hustle culture" on platforms like LinkedIn to protect their focus.

The Verdict for Founders? Endurance is a skill, not a trait. It can be trained, measured and improved.

As the report concludes: "Like athletes, founders are not ultimately judged on how they start, but on how they finish the race"

View and download the Negative Split report here.