You shouldn't start hosting knowing only a little. In my opinion, you should be passionate and devoted to the industry. You should research the industry and determine the best way for you to get started, or if the industry is really for you. It shouldn't be a "if you build it, they will come" type business. Honesty is the key factor in any business. If the company cannot be honest from the start, there is little chance about them being honest in the future.

And I completely disagree that once the truth comes out, it will be fixed. It must likely will be fixed, but the company will lose credibility in a major way. Honesty is key!