Recently reviewing projects, I found that compared to looking at candlestick charts, I prefer flipping through their "ledger album": how the treasury money is spent, whether progress is being made step by step according to milestones. To put it simply, teams that are truly working tend to have an expenditure rhythm similar to fitness check-ins — not necessarily intense, but aligned with progress; those who immediately expand their team, do publicity first, and always have their roadmap set for "next quarter," make me feel inexplicably anxious.

AI agents, automated trading, it's the same — those who talk about narratives are just looking for excitement, while those who focus on security are the ones who really spend time: whether permissions are manageable, whether contracts can be paused, whether there are contingency plans in case of issues. Anyway, when I see "fully automatic money-making," I first tuck my hands back into my pockets.

What I don't regret is: in the past, I chased after a few beautiful milestone PPTs, and even after losing money, I learned a long lesson... Next time I encounter bizarre candlestick charts, I’ll still take screenshots, but before placing an order, I’ll first check where they actually spent the money.