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After listening to countless VC pitches, I’ve put together a translation dictionary:
VC says "We are optimistic about this track in the long term" = We have a 3-year unlock period—please help us keep it afloat.
KOL says "This position has extremely high cost-effectiveness" = I’m already fully loaded; I just need your liquidity.
The project team says "The community is our core asset" = The user list has already been bundled and sold to the next buyer.
Retail investors say "I can hold this time" = This time I want to go from -90% to zero—I absolutely won’t sell.
The killer line is this: "This bull market is different."