After all these years of investing, I finally realize that project research and analysis are just nonsense.

1. Product technology is impressive: all PPTs, even for truly impressive projects, most retail investors have no way to verify.
2. Fundraising is impressive: crypto fundraising is more fake than a man's words. Paradigm led a 50 million yuan investment in a project, but the market cap is less than 1 million.
3. On-chain users are numerous: one person has hundreds of accounts.
4. High TVL: learned a term last year—virtual staking.
5. Founders have vision: many project CEOs are puppets, always with behind-the-scenes operators, and it's often the same few people.
Conclusion: What’s the point of research? Just invest and get it over with.