JackYi: The most successful companies in the crypto industry in the past have all been financial product providers

Foresight News reported that JackYi, founder of Liquid Capital, posted on social media, "The previous wave of disappearances of crypto VCs and projects had a core reason: the majority of raised funds were spent on maintaining teams to develop useless Web3 products. The biggest misconception was benchmarking against Web2 products, whereas in essence, Web3 is a financial industry and does not need to redevelop Web2 products. In the past, the most successful enterprises in the crypto industry were all financial products—from stablecoins and exchanges to payments, all were successful financial businesses. Now, with the arrival of the AI era, large fundraising to expand teams is no longer necessary, and the combination of AI and finance presents a new opportunity. We believe that outstanding founders with a few elites are enough to build top-tier companies. This is currently the biggest opportunity in early-stage investment."