This is a nice list of lies entrepreneurs try to use to convince investors to back them. Let's face it. If you are a startup, you might as well acknowledge that all odds are against you and you have to work harder, faster, and smarter than the existing industry giants if you are going to best them. I like #11. (we just need 1% of the market…) That "chinese math" as it is sometimes called, is extremely popular among startups, and also highly irrelevant.