I've been polygraphed 3 times.? None were enjoyable.
When you work for the FBI, they do what’s called a “lifestyle polygraph”.? They cover the spy/terrorist bases, but they go further and interrogate your character.
Questions like “Have you ever betrayed anyone?”.? Being human, after you say yes, they then say “Ok, other than that time, have you betrayed anyone else?”
And it goes on like this for hours.
The reason it’s different in the FBI is because you can be called to testify in federal court.? That doesn’t happen if you work for the CIA.
I’ve sat on the witness stand 3 times.? And when you’re sitting there, with the fate of a federal prosecution hanging on your testimony, your character becomes fair play.?
And so, the FBI polygraph becomes quite extensive to weed out people who can’t stand up to that scrutiny.
The FBI isn’t looking for perfect people.? They’re looking for candor.?
Can you be honest even when it’s in your best interest to lie?? Even when the truth may cost you?
As an investor, I’m looking for the same thing.? Can you be honest, candid, and straightforward even when the facts don’t paint you in the best light?
Investors know you’re human.? We accept that there will be so many mistakes.? We make mistakes all the time.? VCs have more mistakes in their portfolios than wins.
But what we can’t accept is a lack of candor.
When I talk to founders, I can’t share with them my own entrepreneurial journey.? That wasn’t my path.
But what I can share is candor.? I can tell them the truth, with kindness, because I want them to hear what no one else is telling them.?
Investors are just as guilty (if not more) of having a lack of candor.? The reason is because it’s a relationship business and we don’t want anyone to hate us.
The problem is that none of us can learn anything from pleasantries and half-truths.? Whether you’re a VC or a founder, we’re here to try and create impossible outcomes.? And you can’t do that, without being honest.
At least I don’t think so.?
What do you think?