Episode 4: Founder or Fraudster - Con Artists In The Boardroom

UnicornPrn

In the startup world, everyone preaches “fake it till you make it”. But what happens when faking it goes too far? Are you a bold founder hustling to realize a big vision, or a fraudster selling pipe dreams and ending up in handcuffs?
In Episode 4 of UnicornPrn, Melissa and Lloyed pull back the curtain on the dark side of startup hustle – when “fake it till you make it” turns into outright fraud. They swap war stories of con artists in the boardroom, from fake user accounts and phantom revenue to corporate espionage straight out of a spy thriller.
In this episode, you’ll learn:
✅ Why startup culture’s obsession with unicorn status pushes founders to flirt with fraud (and sometimes marry it)
✅ Unicorn Hall of Shame
✅ Common lies founders love to tell (until they can't)
✅ Red flag checklists for founders, investors, and employees to spot BS before it blows up
✅ Frameworks for ethical “fake it till you make it”
Hot Takes:
✅ "You don’t need to lie, you can fake it ethically with Wizard of Oz MVP or no-code."
✅ "Don’t be enamored by fraudsters. That quick win can become the fastest path to jail."
Grab your popcorn (and maybe a notepad), because this one’s full of 🚀memes, spicy insights, and hard-earned lessons for anyone in startup land.
Tune in. Wake up. Think hard. Build smart.

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• Find show notes of each episode on UnicornPrn.com - hit subscribe like it owes you money

About our hosts

• Melissa Kwan is Cofounder and CEO of eWebinar, and a 3X bootstrapper who has spent the last 14 years building companies without ever raising a cent of venture capital.
• Lloyed Lobo is a WSJ bestselling author, Cofounder of Boast.AI and Traction founder community, startup advisor, angel investor, board member, and LP in multiple VC funds — he’s seen startup chaos from both sides of the term sheet.
• LinkedIn: Melissa Kwan and Lloyed Lobo
• Instagram: @themelissakwan and @lloyedlobo⁠⁠
• YouTube: @themlissakwan and @StartupTraction
• Subscribe to 'your founder next door' at melissakwan.com, Melissa's bi-monthly newsletter on how to build a company without an abundance of resources and friends in high places.
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