Wouldn't the investors be able to see through the smoke, though? I mean, if a phony starts getting peppered with technical questions, and he balks, shouldn't that be a giveaway?
It's hard enough to tell the phonies from the real thing, for a domain expert. Investors are usually not experts at their domain, and only have limited time to assert the person.
If the "phony" peppered with tech questions was patio11, I'm sure he could handle the questions well enough. :)