I don't agree with the premise that some amount of deception is necessary to pitch a company. Founders should say both what they plan to do, and what they actually have working today.
I think it's a partly a dysfunction of some investors, that they get excited by the plan and forget to drill into what actually works. Investors who consistently drill into the current situation aren't surprised when things are a little broken, because that's true of every startup.
I think it's a partly a dysfunction of some investors, that they get excited by the plan and forget to drill into what actually works. Investors who consistently drill into the current situation aren't surprised when things are a little broken, because that's true of every startup.