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The claims are hyper ambitious, that's not the same thing as being nonsense. Aiming extremely high isn't somehow fraudulent. Lots of kids have plans to become
by TulliusCicero 2y ago
The claims are hyper ambitious, that's not the same thing as being nonsense. Aiming extremely high isn't somehow fraudulent.
Lots of kids have plans to become pro athletes and almost all fail, but that doesn't mean all those plans were nonsense to begin with.
- dan-robertson 2y agoLots of the claims made by startups to VCs would be considered fraud if they were ever tried in court, which they aren’t because starting such a lawsuit would be terrible for the VC, and the VCs weren’t really defrauded because they correctly understood the claims to be highly exaggerated. The difference here is in cultural standards for what it means for a startup’s claims to be true.
- TulliusCicero 2y agoMost of the time they're more "aims" than "claims", are they not? Startups want to capture x% of a market, and they'll say they think they can do it, but probably won't make it sound like they're actually guaranteeing it. Maybe I'm missing something about startup claims that are actually fraudulent, rather than hopelessly optimistic.