it is VC companies who are responsible that some of these lies are told. Entrepreneurs pitching their company are only trying to give information they were educated to give simply because they are on the checklist of each VC. And my experience is that if you are not providing this information you certainly be asked for it

a big advertising agency has a claim that  goes "truth well told". I have seen a lot of lies well told and a lot of very experienced people believing them.  Every Top Ten lie can be very impressive if presented by a talented liar.