Guy Kawasaki has written a tongue in cheek article on The Top Ten Lies of Venture Capitalists.

Loved this one:

“This is a vanilla term sheet.” There
is no such thing as a vanilla term sheet. Do you think corporate
finance attorneys are paid $400/hour to push out vanilla term sheets?
If entrepreneurs insist on using a flavor of ice cream to describe term
sheets, the only flavor that works is Rocky Road. This is why they need
their own $400/hour attorney too–as opposed to Uncle Joe the divorce
lawyer.