JackYi: The most successful companies in the crypto industry in the past were financial products.

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ME News, April 23 (UTC+8), Liquid Capital founder JackYi tweeted, "The past wave of crypto VC and project failures had a core reason: the raised funds were basically consumed by supporting teams developing useless Web3 products. The biggest misconception was benchmarking against Web2 products. In essence, Web3 is a financial industry, and there is no need to repeatedly develop Web2 products. The most successful companies in the crypto industry in the past have all been financial products, from stablecoins and exchanges to payments. Now with the AI era, first, there is no need for large funding and big teams, and second, AI + finance presents new opportunities. We believe that excellent founders with a few elites can build top-tier companies. This is the biggest opportunity in primary investment right now." (Source: Foresight News)
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