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Welcome to "No Fear Equity", a series simplifying startup equity and fundraising. Sophia Sang introduces Mike Laplante, a startup lawyer explaining series A term sheets. Understanding term sheets is crucial for raising a price round. Mike, with vast experience working with startups, breaks down key elements. One crucial aspect is the stated pre-money valuation, especially if raising a significant amount like $5 million. Let's dive in and learn from the experts at Carda.