First time founders (and sometimes repeat founders too) often feel pressured to share their pitch decks with venture capitalists (VCs) early in conversations. After all, without the pitch deck, how will investors understand the business? However, what many founders fail to realize is that sharing their decks too early can leave them vulnerable. This is where game theory, specifically the Hawk-Dove Game, can offer a fresh perspective on why founders should be cautious about how and when they share their business information.