I think the sentiment behind #5 is right, but your wording is wrong. It's not about bullshitting. It's about storytelling and choosing which parts of your story to emphasise and how to frame them. People don't realise the extend to which raising money is simply storytelling. And with any story, you dictate where your story takes somebody. Investors want to believe in your story (especially angels / early VC) so give them the story they want to hear.

That said, it's a fine line between good storytelling and out-right lying. You should be telling a story "based on true events", not a fantasy epic that's easy to pick apart. Credibility is everything. And just like watching an implausible action movie, playing with the truth is easy to spot, and the fastest way to damage your credibility.