The thing with dreams, or at least the dreams sold in the bulk of startup media is that everyone being written or talked about is doing great, numbers are never discussed and profitability is assumed. This startup founder fell for that trap hard.
The step up from running your startup in your own name to that of a company is not a small step. You take on extra responsibilities and all of a sudden, things are taken out of your name and are in the name of your company. So what happens when you put money into your company and want to take it out? Do you have any responsibilities there?