Did he promise "riches and success" to family and friends? When I read that part I immediately put myself mentally into those shoes and thought the only honest

Did he promise "riches and success" to family and friends? When I read that part I immediately put myself mentally into those shoes and thought the only honest way to raise money from loved ones is to say "I believe in this project, I want it to succeed, I calculate a reasonable probability of success in which case your investment has the potential to be worth $XYZ. HOWEVER, you should be aware that ALL startups are a total crapshoot, and it's also a very reasonable possibility that you will lose all your money so please do not invest anything that you cannot afford to lose." We don't know whether OP pitched it this way to friends and family, but I sincerely hope he did.