There are "doomed" companies in every batch, which is okay. Startup investing is a numbers game.
This is a great time for the company the OP is talking about to reflect on possible mistakes they've made. I take what the OP says with grain of salt, but no startup is perfect. This is the time to think about the culture they created and how they can improve it to stay alive.
Most of the time, it just takes an honest conversation with the team. Lock yourselves in a room and have an open talk about what's going on. Let no feeling go unspoken. Don't make any excuses- just focus on how you guys can be better in the future and make every effort to do that.
This is a great time for the company the OP is talking about to reflect on possible mistakes they've made. I take what the OP says with grain of salt, but no startup is perfect. This is the time to think about the culture they created and how they can improve it to stay alive.
Most of the time, it just takes an honest conversation with the team. Lock yourselves in a room and have an open talk about what's going on. Let no feeling go unspoken. Don't make any excuses- just focus on how you guys can be better in the future and make every effort to do that.