The document discusses negotiating the pre-money valuation and Series A share price for a startup company receiving investment. It explains that the pre-money valuation includes an option pool that makes the effective valuation lower. This is because the option pool shares are added to the pre-financing shares to calculate a lower Series A share price. Investors want a larger option pool to reduce the company's valuation and share price. The post-money valuation is calculated as the pre-money valuation plus new investment minus any convertible notes.