“I'm out” is the phrase investors commonly say when declining a pitch on the UK show Dragon's Den.
The expression signals that a dragon is no longer willing to participate in negotiations. Once an investor says it, that person normally stops considering the opportunity, although other dragons may continue questioning the entrepreneur or making offers.
The phrase works because the programme presents investment as a public negotiation. Entrepreneurs state the amount of money they want and the share of their company they are prepared to offer. The dragons then assess the business, valuation, evidence of demand and potential return.
“I'm out” is a television catchphrase rather than a formal legal term. It does not itself mean that every dragon has rejected the business; it only records one investor's decision. A pitch can still succeed if another dragon remains interested and agrees terms with the entrepreneur.