I would say it's extremely common. Fake it till you make it is almost expected. Even the cons don't think they're lying. I'm of the opinion that a lot of VC's

I would say it's extremely common. Fake it till you make it is almost expected. Even the cons don't think they're lying. I'm of the opinion that a lot of VC's are like money managers. Index funds regularly beat their returns but that doesn't stop them from think they're God's Gift. VC's seem to be much the same. There's a lot of "black magic" to the funding process. In my experience, something that can't be logically understood usually has no logic behind it. Some of the VC's probably have real metrics but it becomes statistically impossible to find success using logic when you only fund a handful of companies a year. There's not enough data.