The "Fake It Till You Make It" Approach is Fraud.

Today we see a perfect example of the "fake it till you make it" approach that seems to be so common today. 

This approach was first perfected by Tony Robbins and later Robert Kiyosaki.

And make no mistake about it. If you're lying about yourself in order to boost your image and you're selling something based on that false image you have created, you're engaging in fraud.  

If you check scam portals like YouTube, Facebook and many other places online that attract scammers due to zero regulation, you will find countless individuals claiming to be rich and successful, yet they're anxious to sell you books and programs claiming to teach you how to become rich and successful.

Anyone who pitches this kind of line is clearly a scam artist.

The fellow in the video below (with the Backstreet Boys hairstyle) poses as a venture capitalist, yet I can tell you by his appearance alone that the guy is not a real VC.

When he goes on to tell you how great of a company Uber is, you know the guy is a complete clown. 

He's clearly a clown claiming to be a venture capitalist. 

And Yahoo goes right along with this as does every other media firm.

Anyone can claim to be a venture capitalist.

It's quite easy to start a fund. And you don't need any money in the fund. 

If you are introducing someone as a venture capitalist, you're responsible for checking  to make sure that person has a real fund, and either a track record or else a substantial amount of money invested in several companies for which a track record will be completed once the investments have been harvested.

Just because you call yourself a venture capitalist doesn't mean you are. The same applies to hedge fund managers, analysts and consultants. 

If you interview a person and you introduce that person as a VC or anything else, you'd better make sure you screen the person in advance. Otherwise you can be sued for fraud.  The same thing applies to the person who is making false or exaggerated claims. 

This is just another example of media fraud. And unfortunately, it's extremely common. 

The video below was first recorded nearly one year ago.