This paragraph provides a great explanation of Nangong Yuan’s famous quote: “Every cent you lose is fuel that drives the industry forward.”

“Liang Wenfeng is extremely unconventional: after graduating from Zhejiang University, he doesn’t look for a proper job, he secludes himself and trades stocks for three years, and in the end he becomes a dominant force in domestic quant trading. He cuts so hard that A-share retail investors are screaming. He raises funds to develop AI. Born in the United States, he is completely the kind of nerd who drops out in his second year and starts a business.”