I don't blame the CTO too much for taking the project: startups need to take risks and try and make money and if something is physically possible you usually have to try. On a tight deadline, you put together a proof of concept and succeeded so it seems like a correct decision. You did your job.

> He didn’t even try the app once before presenting it to the investors.

It's this that really floors me. Ok, not everybody is going to be Steve Jobs and rehearse like a madman to try and put on a spectacle, but at least try an app before a key meeting.