diff --git a/cmd/tsconnect/src/lib/start-ipn.ts b/cmd/tsconnect/src/lib/start-ipn.ts
index 9b364548e..378297f5e 100644
--- a/cmd/tsconnect/src/lib/start-ipn.ts
+++ b/cmd/tsconnect/src/lib/start-ipn.ts
@@ -27,15 +27,29 @@ export async function startIPN(
   })
 
   go.env[INIT_CALLBACK_ENV] = name
-  const exited = go.run(instance).then(() => {
+
+  // An exit before the IPN reaches the caller is a startup failure, and throwing
+  // hands it back as a rejection. Afterwards the caller holds the only shutdown
+  // path, so an exit is either that shutdown or a panic; report it either way,
+  // because the IPN is dead in both cases.
+  let handedOver = false
+  const exited: Promise<never> = go.run(instance).then(() => {
     delete globals[name]
-    onExit("Unexpected shutdown")
-    throw new Error("Go runtime exited before the IPN was ready")
+    if (handedOver) onExit("Go runtime exited")
+    // Always reject: before the handover this is what fails the race below,
+    // and after it the race has settled, so nothing observes the rejection.
+    throw new Error(
+      handedOver
+        ? "Go runtime exited"
+        : "Go runtime exited before the IPN was ready"
+    )
   })
 
   const [newIPN, terminate] = await Promise.race([ready, exited])
   try {
-    return await newIPN(config)
+    const ipn = await newIPN(config)
+    handedOver = true
+    return ipn
   } catch (err) {
     // Nothing was built, so nothing can shut the runtime down. Exit it here and
     // wait for it, or the page keeps a blocked runtime for a failed startup.