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In this episode of "No Fear Equity," host Sophia Sang discusses startup equity and fundraising, focusing on a Series A term sheet. She invites Mike LaPlate, a seasoned startup attorney from Perkins Coie, to explain key components of a term sheet that startups should understand during a priced round. The episode emphasizes the complexity of legal language associated with term sheets and highlights the importance of knowing the company's pre-money valuation – in this case, a $5 million raise. Mike’s experience with thousands of startups makes him a valuable resource for comprehending these essential fundraising documents.