Refounding: Why this $80m CEO quit his company to save it (w/ Josh Foreman of Indebted)
In 2026, startups age like milk. Josh Foreman's solution is a radical one - step down as CEO, go back to basics, and refound the whole company.
Yaniv Bernstein discusses this decision with Josh, founder and (for now) CEO of InDebted - the AI-native debt resolution business he scaled to an $80M revenue run rate, a Series C raise, and operations across 8 markets. Just days before recording, Josh publicly announced he's hiring a new CEO so he can step back into the business as a hands-on operator and refound the company for the agentic AI era.
In this conversation, Josh and Yaniv discuss 'refounding' in practice, what it takes to rebuild the company's processes from the ground up, and why technical founders who don't go back on the tools right now are setting themselves up to be outbuilt by a smaller, faster, leaner version of themselves.
In this episode, you will:
Learn why Josh believes the highest-leverage role for a technical founder in 2026 is no longer CEO, and how to structure a founder-CEO partnership that actually works
Understand why 'feature patching' an established business is a losing strategy, and what it really means to rebuild your company function-by-function from a clean slate
Discover how revenue-per-employee has become the metric that matters most when raising capital and competing with AI-native upstarts
Hear why services-as-software and performance-fee models are suddenly the bull case for investors who hated them 12 months ago - and why the SaaS seat fee is on the way out
Find out what it looks like to unbundle your product into agent-ready primitives, and why owning the eval for a narrow domain may be a bigger moat than your full-stack UI
Timestamps
00:00 Coming Up: Refounding
00:41 Josh Foreman, CEO (for now)
01:41 What Refounding Means
04:53 Rebuilding the Factory
07:38 Bringing the Team Along
10:51 No Choice but Change
14:56 Aligning the Board and Investors
16:52 Putting Founders Back on the Tools
26:24 'Corporate Ozempic' Shrinking Teams
32:57 Unbundling and Products for Agents
38:39 Hiring a CEO When Refounding
44:11 Closing Thoughts
Mentioned in this episode
Josh Foreman on LinkedIn: https://www.linkedin.com/in/joshforeman/
InDebted: https://www.indebted.co/
Scott Galloway on 'Corporate Ozempic': https://www.profgalloway.com/corporate-ozempic/
Surviving the AI SaaSpocalypse with Scotty Allen: https://youtu.be/j84LF4aru8I
'Paranoid Optimism' with Yaniv: https://youtu.be/FGqbdzr0-PM
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Key links
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Learn more about Chris and Yaniv
Work 1:1 with Chris: http://chrissaad.com/advisory/
Follow Chris on Linkedin: https://www.linkedin.com/in/chrissaad/
Follow Yaniv on Linkedin: https://www.linkedin.com/in/ybernstein/
Producer: Justin McArthur https://www.linkedin.com/in/justin-mcarthur
Assistant Producer: Steph Hefferan https://www.linkedin.com/in/steph-heff/
Intro Voice: Jeremiah Owyang https://web-strategist.com/