THE MOST DANGEROUS DOCUMENT A FOUNDER WILL EVER SIGN It’s not your shareholders agreement. It’s not your contract. It’s your term sheet. 3 pages. A big number at the top. And that moment of relief… “I made it.” That’s the trap. Because founders read term sheets like stories. But they are not stories. They are systems. And that headline valuation? It means almost nothing. What actually matters is hidden in the fine print: Who gets paid first Who controls the company Who wins when things go wrong What happens when your next round is weaker The quiet killers: Liquidation preference Anti dilution Option pools Investor veto rights No shop clauses On their own? They look harmless. Together? They decide whether you build wealth… or just build for someone else. I’ve seen founders raise millions and walk away with nothing. Not because the business failed. Because the structure did. If you cannot explain your term sheet in 10 minutes… You should not be signing it. Save this. M...