A founder in my portfolio just told me something that made me smile:

Every single competitor in their space is either already dead or about to die, as they’re running out of money.
Meanwhile they’re profitable and growing, even if their token looks dead af.
This is what bear markets are designed to do. Kill the weak and hand the entire sector to whoever survives.
The next cycle will be won by the last ones standing. And the irony is that most of them are standing right now while you’re scrolling past their tokens at all time lows.