alt Hacker News“Our theoretical framework captures how entrepreneurs facing minor, wide, and extreme expectation-reality gaps engage in evermore sophisticated efforts to detach the venture’s externally projected appearance from its actual operational reality.”
Look, I’m not promoting fraud at all, but having been doing seed raising for the last eight months, there have been many times where I thought the only way to compete was by fudging the numbers (because everyone else is, basically). It’s one of several reasons I left this game and am pursuing non-traditional means of funding now.
Replies
Thank you for having an ethical standard and the will to adhere to it.
What is nontraditional? Seems like it could be even more rife with fraud with lower oversight.
You highlighted the basis for widespread corruption. At some point you no longer do it to get an unfair advantage, you do it because without it you get an unfair disadvantage. Widespread fraud is no different.
Good on you for saying no to committing fraud! It really sucks that this is unusual enough that it warrants a bit of positive feedback!
Was it fudging expected numbers (forecast), or fudging actual numbers (revenue, etc)?
VCs are looking for a long-tail, if you have a 1% chance at 5B - 1T market, this is more interesting and impactful than 10% chance at 5M market.
And yes, 1% chance of success is considered to be unrealistic by common sense standards.