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In this episode of "No Fear Equity," hosted by Sophia Sang, the focus is on understanding startup equity and fundraising, specifically tackling a Series A term sheet. Sophia introduces Mike Laplate, a startup attorney from Perkins Coie, who will simplify complex legal language found in these documents. They aim to clarify essential components of a Series A term sheet, particularly highlighting the importance of the stated pre-money valuation. The case presented involves a company raising $5 million. The tutorial serves to demystify the term sheet, making it accessible for founders navigating fundraising.