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Economic scholars disagree over whether the US is currently in recession. Although current economic indicators suggest that the country has left recession there is still a vast depression in the telecommunications and IT sectors. I present recent lessons I have learned, and how to navigate through today's frigid economic waters in search of outside investment. I have learned a lot about how investors think and the language of investing. I discuss what I have learned about term sheets, the set of contractual rules between business owners and outside investors that outlines who gets what cash when a business, at some point, either sells out or goes public.