I've raised $4.5M and talked to 100+ VCs. 80% of what they say is fluff. Here’s how to spot it. VCs are masters of saying nice things that can mean nothing. They’re not lying—they’re just pitching you. Here are the 4 fluffiest phrases I’ve heard (and how to respond to them.) --- “We move fast.” Founders care about speed. But speed isn't a VC's incentive—optionality is. Most VCs want to keep the door open: → To see if another investor comes in → To buy time for internal discussions → To avoid being the first to commit The truth? “We move fast” is often code for “we’ll wait and see.” What to respond: Get a firmer commitment. "Would getting to a decision by [X date] work for you? I’ll follow up then." --- “We have high ownership targets because we provide a lot of value.” High ownership targets are driven by LP return expectations, not because they’ll work harder for you. Ownership doesn’t magically unlock extra value. If they’re in, they’ll help (or not)—regardless of whether they own 5% or 9%. What to respond: Call this logic out. "So just to clarify—if you owned less, would you provide less value?" --- “We provide a lot of value to our portcos.” This is a classic sell during the courtship phase. But the best signal for “true” value add in this phase are other portco founders. Founders who’ve actually worked with them will tell you if they: → Make useful intros → Respond when it counts → Show up when sh*t hits the fan What to respond: Get referred to portco founders (and backchannel as well) “Would you be open to connecting me with one or two founders you’ve worked closely with?" --- “We’ve been leaning in & spending a lot of time in [your space].” This doesn’t necessarily mean deep conviction or understanding in your space. Instead this could mean: → They’ve taken a few first calls and are still figuring out the space → They want to track the space without committing → They’re hedging bets in case one company breaks out What to respond: Push for substance. "What’s the most recent investment you’ve made in this space?" "What specific thesis are you excited about here?" --- TAKEAWAY Fundraising is a two-way pitch. Learn the difference between genuine signals and empty soundbites. VCs aren’t lying—but they are optimizing for outcomes. As founders, we owe it to our companies to do the same. Push for clarity. Set expectations. Go for substance not surface. View original post on LinkedIn.