On BBC's Dragon's Den, an investor uses the phrase “I'm out” to withdraw from a business pitch.
The phrase signals that the Dragon will not make an investment and is leaving the negotiation. It is one of the programme's most recognisable pieces of terminology, alongside requests for a percentage stake, questions about sales, and offers of money for equity.
A Dragon may say “I'm out” after hearing the entrepreneur's valuation, deciding that the product is too risky, or concluding that the business does not fit their experience. Once a Dragon has withdrawn, that individual normally stops participating in the pitch, although other Dragons may continue negotiating.
The wording is sometimes confused with “no deal” or “not interested”, but “I'm out” is the established expression associated with the British programme. The format originated in Japan as Money Tigers and has been adapted internationally, with different versions using their own presentation styles.