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In the "No Fear Equity" series, host Sophia Sang introduces Mike Laplate, a startup attorney from Perkins Coie, to explain the complexities of a Series A term sheet. The discussion focuses on the importance of understanding the legal terminology involved in raising a priced round of funding. Mike emphasizes that the term sheet will include a stated pre-money valuation, highlighting that the featured company is raising $5 million. The session aims to simplify these concepts to help startups navigate the fundraising process effectively.