If you're reading this, you probably asked me to sign an NDA before our first conversation. I get it. Your idea matters to you. You've been thinking about it, refining it, maybe losing sleep over it. The instinct to protect it is completely natural.
But I need to be upfront: I don't sign NDAs before initial meetings. And neither do most investors, angels, or advisors you'll encounter. This isn't personal, and it's not because we don't take your work seriously.
Let me explain why, and when NDAs actually do make sense.
The Reality of Early Conversations
Every year, I speak with hundreds of founders. Each brings their vision, their pitch, their passion. Even when I pass on most opportunities, hearing these journeys is genuinely interesting and often the highlight of my week.
But here's the practical side: signing an NDA for each conversation would mean involving legal review for discussions that may never go anywhere. It slows everything down. Worse, it creates liability where none is needed.
Ideas Are Only Part of the Equation
Here's something founders often underestimate: the idea itself is maybe 1-2% of what makes a startup succeed. When I'm evaluating an opportunity, I'm looking at:
- →Execution capability — Can you actually build this?
- →Team — Are you the right people to do it?
- →Timing — Is the market ready now?
- →Market insight — Do you understand something others don't?
- →Resilience — Will you survive the inevitable setbacks?
- →Traction — Is anything already working?
I'm not in the business of stealing ideas. Nobody is. It would destroy my reputation, and honestly, I don't have time to execute your idea. I have my own work. Investors invest. They don't pivot into becoming founders of your concept.
The Real Risk Isn't Someone Stealing Your Idea
Here's what I've seen sink more startups than idea theft: building in silence.
If you're keeping your idea secret, you're going to build it first, then figure out distribution after. You'll launch to crickets. No audience. No validation. No line of people ready to engage. You'll have built something nobody was waiting for.
The founders who win are the ones who talk about their idea to anyone who will listen. They're testing messaging, finding early believers, building an audience before they build the product. They're getting signal on whether this thing has merit before they've sunk months into code.
What Leading with an NDA Signals
I want to be honest with you, because I'd rather you hear this from someone who wants to help than learn it the hard way: when a founder leads with an NDA before I even know what their company does, it tells me we might not be aligned on how this process works.
Your job right now is to talk to as many people as possible. Get feedback. Refine your pitch. Hear how people react. Find the ones who light up when you describe the problem. Those are your first customers, your first believers, your distribution.
The best founders treat early ideas as conversation starters, not trade secrets. Every conversation sharpens the positioning, reveals blind spots, and builds the network you'll need when you're ready to launch.
A Hard Truth, Said Kindly
If a 30-minute conversation could give someone everything they need to replicate your business, that's a sign the moat isn't deep enough yet. Real defensibility comes from execution speed, customer relationships, proprietary data, network effects, and compounding advantages built over years. Not from keeping an idea in a vault.
When NDAs Actually Make Sense
I'm not against NDAs in all cases. There are absolutely times when confidentiality agreements are appropriate and necessary:
✓ During Due Diligence
Once we're seriously considering an investment and you're sharing proprietary code, customer data, detailed financials, or strategic plans, an NDA makes complete sense.
✓ Deep Tech & Patents
If you're building something with genuine IP, like novel algorithms, patentable innovations, or breakthrough research, protecting that before disclosure is reasonable and expected.
✓ Biotech & Clinical Data
Clinical trial data, drug formulations, or medical device specifications often require confidentiality for regulatory and competitive reasons.
✓ Hardware & Manufacturing
If you're sharing manufacturing processes, supply chain relationships, or hardware specifications that represent real trade secrets.
Let's Start With Trust
So if you're about to pitch an investor, an advisor, or anyone who might help you on your journey, and you're tempted to lead with an NDA, pause and ask yourself:
What's riskier: someone hearing my idea, or nobody hearing it at all?
I'm genuinely here to help. I want to hear what you're building, understand your vision, and see if there's a way I can be useful. That conversation works best when it starts with openness, not paperwork.
Common Questions
What if I have something truly proprietary?
Share what you're comfortable sharing in our first conversation. You can always hold back the most sensitive details until we've established mutual interest and trust. Most initial conversations don't require you to reveal trade secrets.
Is this policy unique to you?
No. This is standard practice across the investment and advisory world. Y Combinator, Sequoia, a]16z, and virtually every major investor follows the same approach. You'll rarely find an investor who signs NDAs before initial meetings.
Can we revisit the NDA later?
Absolutely. If we progress to due diligence, where you're sharing detailed technical documentation, customer contracts, or financial models, we can absolutely put appropriate confidentiality protections in place.
I hope this explains my position clearly and kindly. I'm looking forward to hearing about what you're building.
— James Sinclair