blacktrance comments on White Lies - Less Wrong
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If you want me to boil it down to three words, "business before pleasure." Accumulate some people you can count on to cover their own specialties and communicate with you accurately and precisely, and some other people who are fun to be around. Optimize those groups separately. If someone wants to straddle the line, never let them apply leverage from one mode to the other. Never forget which mode you're currently operating in. Business gets priority in emergencies and strategic decisions, because survival, but there should be a balance overall: it's "before," not "instead of."
Personally, I find people who lie aren't fun to be around.