Jack Yi: Web3 is Essentially a Financial Industry, Misguided by Web2 Product Comparisons

On April 23, Jack Yi, founder of Liquid Capital, posted on platform X stating: "The recent wave of crypto VC and project failures has a core reason: funding is primarily consumed in maintaining teams to develop useless Web3 products. The biggest misconception is the comparison to Web2 products. Essentially, Web3 is a financial industry and does not require the redundant development of Web2 products. The most successful companies in the past crypto industry have all been financial products, from stablecoins to exchanges and payment services.

Now, with the advent of the AI era, there is no need for large funding to recruit teams, and AI combined with finance presents new opportunities. We believe that outstanding founders with a few elites can achieve top-tier companies, which represents the biggest opportunity in primary investment at present."

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