Finding the 'Goldilocks' level of enthusiasm for business pitches -- ScienceDaily
They found that, generally speaking, the higher the peak level of enthusiasm, the more likely the entrepreneur was to receive funding, after controlling for differences in the products and business ideas. But there was a bell curve in the results, where the likelihood of funding tended to fall as "peak joy" levels went on for too long.
"Although a higher level of peak joy displayed by entrepreneurs during their pitches leads to better funding performance over time, prolonged display of peak joy seemed to undermine funding performance," Liu said. "Another possible interpretation is that investors may believe the entrepreneur is acting and the pitch is manipulative. Maybe they feel the entrepreneur is using his or her excitement to manipulate the investors' perceptions in hopes of increasing the odds of getting funding."