Matt Levine once described this very well, although he did it when referring to Adam Neumann and WeWork. I’m paraphrasing, but there are a subset of people who are able to consistently and accurately to great success exploit a bubble in the VC world, by dint of exactly knowing what to say and of being able to get the meeting in the first place.

Lee being able to credibly sell bullshit like the quoted claim is a feature, not a bug. It’s somewhat irrelevant if he actually believes it.