People keep asking me, “How deep do you really need to understand block builders and bundling?” To be blunt, retail investors only need to understand enough to protect themselves: when you place an order, it doesn’t go straight into the block—in the middle, someone might package it up, cut in line, or tweak the order… the price you see is the price you’re willing to be served. Don’t get stuck on any fancy structures. Remember two things: first, a market order plus slippage getting too big means you’re basically handing other people “good meat”; second, if on-chain you suddenly see a bunch of small orders all going in the same direction entering and exiting around the same time, then there’s an 80% chance someone is frantically trying to put together a bundle.

Then there’s Layer2—every day they argue about TPS, fees, and subsidies. It’s pretty funny, and also pretty annoying: they talk about performance, but in reality, it still comes down to who has the more valuable say in ordering/packaging. Anyway, when I see “ecosystem subsidies attracting new users,” my first reaction isn’t to rush in—I’d rather go look at permissions and the flow of funds… I don’t like getting squeezed. I like seeing how other people get squeezed. That’s it for now.