Would you keep going if you believe you're likely to fail?

I'm 6 months into starting a new tech company, on the back of a prior successful company in the same space. We've progressed through an research phase and are soon to be heading into fundraising.There are two issues I see at this time:We don't have a strong idea of the problem we are looking to solve. This may sound odd, but I am essentially coming into this new venture with a lot of very high level international connections in the industry -- those that are not easily acquire. With these high level connections and a whole host of advanced software capabilities in our portfolio, we're essentially capability and network rich, but currently value prop poor. I believe we can successfully leverage what I bring to the table, but at the present we have a somewhat tenuous idea of the value we will ultimately provide our customer base.I have seen some concerning red-flags from my partner in the new venture. He has previously been successful and is much older. He comes to the team with a lot of experience in corporate structuring, fundraising, and has run a 100M+ company before. While he has had some recent cash flow issues with a failing venture he started two years ago, he is excited to have the opportunity to start this new company with me. Though I appreciate much about him, I've seen a couple concerning red flags:He is involved in a lawsuit with someone he was previously in business with. I personally grew up in an environment where you would never sue another. It's just not in my DNA. I would turn a blind cheek and move on in life rather than involve another (and myself) in a lawsuit.Several individuals on his team in his previous (failing) venture have left on bad terms. This is something I only recently became informed of.While I understand he has had some cash flow issues, he hasn't contributed for his share of the company's start up costs. He has contributed about 30% of what is expected of him and when I bring it up he often reaffirms that he will pay and that he just forgot or something.While I am excited to have the opportunity to gain experience in growing a corporation through a traditional fundraising approach (as opposed to bootstrapping which is what I've always done), I'm somewhat concerned about our likelihood of success and growing issues given the above.I do see value in pushing through and trying to make things work, even if it's just to learn, but I'm not sure if it is a good idea.What would you do?​P.S. Please let me know if you have any questions which I could provide further clarification on. see hubwealthy.com/wealthy