All 4 Uses of

founder

in

Robinson Crusoe

The sea went mountains high: I could see nothing but distress around us; two ships had cut their masts on board, and another was foundered; two more that had lost their anchors, were forced out to the mercy of the ocean; and to save our lives we were forced to cut our foremast and mainmast quite away.†
*

foundered = failed; or sank

All our pumping had been in vain, and vain had all our attempts been, had they not come to our ship's side, and our men cast them a rope over the stern with a buoy to it, which after great labour they got hold of, and we hauling them up to us got into their boat, and left our ship which we perceived sink within less than a quarter of an hour; and thus I learned what was meant by foundering at sea.†

foundering = failing; or sinking

Uses with a meaning too rare to warrant foucs:

Our ship was very good, but over-loaded; which made the sailors often cry out, "She would founder!"†
*

into the hold, where there was no resisting it; & then they got into their boats, as creatures in the last extremity, with what provision they had, together with oars, sails, and a compass, intending to go back to Newfoundland, the wind blowing at S.E. and by E. though there were several chances against them as storms to overset and founder them, rains and colds to benumb and perish their limbs, and contrary winds to keep them back and starve them; But, said he, in this our great distress we heard the welcome report of your guns, when with unspeakable joy, taking down our masts and sails, we were resolved to lie by till morning; but perceiving your light, we set our oars a†

Definitions:

(1) (founder as in: a founder of the company)
someone who establishes or starts something
(2) (founder as in: peace talks foundered)
to fail or break-down

or:

to physically sink below the surface or fall
(3) (meaning too rare to warrant focus)
A less common meaning refers to someone who manufactures things made from cast metal.