'There's no accountability;' AI startups keep claiming huge revenue. VCs say the math is getting 'murky.'

Cluely CEO Roy Lee raised eyebrows earlier this year when he admitted to misstating his startup's ARR to a TechCrunch reporter. Kimberly White/Getty Images for TechCrunch VCs love surging annual recurring revenue (ARR). It's often how they value startups. But in the AI boom, VCs are increasingly…