As a founder, you'll encounter many hills and valleys growing your company. As much as you want to present positive information to stakeholders, it's equally important to be forthright when product and financial performance fall short of expectations. As an angel investor who funds promising startups, on occasion ' and thankfully it's rare ' I've run into less-than-honest behavior. The point where 'faking it' translates into stating untruths to investors, customers and oneself is the point at which ego and reality collide ' and ego in some cases ends up as the winner. A well-publicized case is that of Theranos founder Elizabeth Holmes, who was convicted of defrauding investors about the diagnostic device company she founded. Less well-known is Adam Rogas, CEO of cyber fraud prevention company NS8, who allegedly raised $123 million from investors using financial statements that showed millions of dollars of revenues and assets that didn't exist. The founder of a company I invested in...
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