Venture capitalists trade information quite freely and a turndown by one firm may influence others. Show you can compete globally. Don't go to a venture capitalist empty-handed. You have to show your commitment to risk everything you own. Don't ask for more than you unquestionably need.
Venture capitalists can spot an overestimate right away.
For that matter, they can also spot any other attempts to pull the wool over their eyes. Many venture capitalists are leery of status-spenders. There are two types of camp followers. The second type is the well-known person who becomes an advisor or a director, primarily to establish credibility. The second type may or may not make a small investment to confirm faith in the project.