Harrison and Sonny demystify the who, what, and how of raising venture capital. They discuss what it's like to raise seed and priced rounds, how valuations work, and other key terms like discounts, caps, pre-money vs post-money and more. They also dig into the YC SAFE vs traditional convertible notes. Harrison gives his perspective on what's changed in the past year on raising early stage money. Sonny plays devil's advocate with the worst of VC.