---
title: "Angel Investor Non-Admissons: 10 Things They Won't Say"
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image: https://www.onstartups.com/hs-fs/file-13148983-jpg/images/onstartups-silence-angel.jpg
---

# Angel Investor Non-Admissons: 10 Things They Won't Say

Written By: [Dharmesh Shah](https://www.onstartups.com/author/dharmesh-shah) June 15, 2009

- [angels](https://www.onstartups.com/topic/angels)
- [humor](https://www.onstartups.com/topic/humor)

Angel Investor Non-Admissons: 10 Things They Won't Say Written by [Dharmesh Shah](https://www.onstartups.com/author/dharmesh-shah) on June 15, 2009

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As a tribute to the very funny [VC Non-Admissions](http://www.slideshare.net/vcobserver/vc-non-admissions?type=presentation) and the follow-up [Founder Non-Admissions](http://www.slideshare.net/HBSChris/founder-nonadmissions), I offer to you my own take on this — from an angel investor perspective.  Sorry that mine aren’t in a cool presentation form with pictures and such.  I don’t have that kind of talent.  ![OnStartups Angel Non-Admissons](https://www.onstartups.com/hs-fs/file-13148983-jpg/images/onstartups-silence-angel.jpg)

**10 Things An Angel Investor Will Never Say**

1. I really want to support entrepreneurs — but just those that are going to make me money.

2. I dread having to explain your business idea to my spouse (who can veto any deal).

3. I don’t really have enough stake in your company to spam my network on your behalf.

4. I was lying when I said that some of my best friends were VCs.  Even VCs aren’t best friends with VCs.

5. I have no idea what the hell you’re talking about 50% of the time.  What’s a socially-semantic mobile platform for non-virtual currency mean?  (Oh, it’s an iPhone/Facebook payment app).

6. The other 50% of the time, you have no idea what you’re talking about.  Anti-dilution provisions in a termsheet are not about beer.

7. How the public market did last week *does* impact my decision making.

8. I like to invest in cool startups because it helps make up for high school.

9. I don’t understand what half the things in the funding agreement mean either, but I’m betting that most of them are to protect me, not you.

10. I really didn’t put the check in the mail the day I said I did.  I was golfing that day.  I sucked.

11. I’m in it to mostly have fun.  If I wanted to do unpleasant work, I’d have my own startup.

—-

Feel free to add your best ones in the comments section, or if you prefer, you can tweet me [@dharmesh](http://twitter.com/dharmesh). 

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