[JVIDEL]

The problem with that statement is that it works: I seen plenty of startups with a lot of flare and filler but no product getting some generous seed rounds while the tech guys from another startup despite having an early version of the product get nothing.

Why? because their tech demo was boring to the non-tech investors, while the productless startup had a very clean well-prepared presentation that catches the eye of angels, even if they have nothing resembling an actual product.

Because doing that is easier for most people a lot of startups are born productless and focus almost solely on the presentation and pitch.