As a founder sometimes it's hard to negotiate with investors because you don't know what the typical market deal terms are. What should my valuation be? What should the discount on the SAFE be? 10%? 30%? What's a good interest rate for a convertible note? Am I asking for too much or too little? This is primarily because most of the documents that are signed in the Venture Capital industry aren't public information. It's usually the lawyers that know everything.
So what we as lawyers tend to do is give each other phone calls and talk about critical deal terms and what is currently market from our perspective (without divulging client information of course). We usually do this by saying things like "yeah, for the last 8 or 9 healthcare startup deals we closed, the valuation was in the $7-$9 million range." That information helps other lawyers guide their clients on what the market has a taste for since the industry is somewhat opaque.