Burn Rate by Andy Dunn

One of the very few books I have come across at the intersection of mental health and entrepreneurial journeys, Burn Rate by Andy Dunn is truly a one of a kind memoir. The title of the book is a playful double-entendre, implying the cash burn struggles that startups face, and also the rate at which your brain figuratively burns while living with a mental illness.

In his memoir, Andy Dunn not only spills the beans about the realities of entrepreneurship in the USA, but also speaks about the internalized horror of accepting a mental health diagnosis of bipolar disorder, the extreme courage it takes to accept this reality on your own, and further admitting it to others in the personal and professional front. He writes about the challenges, failures, and uncertainties that come with starting and scaling a business. Anecdotes mentioned in his book are drawn from his own experiences as the co-founder of Bonobos, a revolutionary apparel company of its time. He also writes about the various experiences he had while understanding and coming to terms with his diagnosis, complete with descriptions of his behaviours during manic phases and depressive phases, bouts of institutionalisation and an incident where he was arrested.

The blurb of this book has an interesting sentence which was one of the reasons why I promptly purchased it at the bookstore.

Hustling to scale the fledgling venture (Bonobos), Dunn raised tens of millions of dollars while boundaries between work and life evaporated. As he poured everything he had into the startup, Dunn was haunted by a Ghost: a diagnosis of bipolar disorder he received after a frightening manic episode in college, which had punctured the idyllic veneer of his midwestern upbringing. He had understood his diagnosis as an unspeakable shame that – according to the taciturn codes of his fraternity, the business world, and even his family – should be locked away.

Blurb of Burn Rate by Andy Dunn

The raw honesty with which Dunn articulated and documented his life through his memoir makes for a refreshing departure from the polished and “successful rags-to-riches” narratives often found in memoirs of entrepreneurs. It unlocks insights into the psychological challenges that entrepreneurs may face, which often get swept under the carpet. He strikes a balance between sharing practical advice on fundraising and investor relations management, hiring employees, managing cash flows, financial discipline and fostering company culture while also being painfully honest about the toll it takes on self, family and relationships with friends and romantic partners.

At a time when speaking up about your own mental health challenges such as anxiety and depression is still a taboo and being vulnerable about mental health diagnoses at the workplace is still considered as a no-no, this book offers a ray of sunshine to break the dark cobwebs in preconditioned mindsets, and encourages to readers to be vulnerable, aware and empathetic about a very real elephant in the room. While writing this book review, I looked for statistics documented in research articles on mental health in Indian workplaces, and the numbers didn’t lie. According to a September 2022 report published by Deloitte, 59% of respondents experienced depression-related symptoms, and 55% experienced emotional exhaustion and burnout. The top 3 industries reporting an increase in mental health symptoms due to COVID-19 were IT and ITES, Consulting or business advisory and Banking and financial services. Of the 61% respondents that took steps towards mitigating their mental health symptoms, only 34% sought professional help. 22% of workers suffering from mental health issues indicated that they would prefer not to open up about their mental health challenges at the workplace, and 25% employees indicated that they would rather disclose their mental health issues to their peers or colleagues than others in the organisation.

I would recommend reading this research document in-depth if you are currently an employer or employee in India, and also wholeheartedly recommend Burn Rate as a must-read for seasoned entrepreneurs, beginners or anyone mildly interested in entrepreneurship or startup culture.