On rainy days when I go out to handle things, my shoes get wet again, and my mood feels a bit gloomy. But it’s also a good chance to change my perspective—think about how the project team might be assessing whether they’re actually doing serious work.

I usually start by checking whether their treasury spending matches their milestones. Put simply, I’m not judging what grand visions they’re shouting about; I’m looking at where the money is going—did they hire a bunch of marketing accounts to hype the narrative, or are they truly developing; do they have some tangible progress every month that you can see and touch, not that “talk about it next quarter” kind of empty promises. The same goes for the AI Agent space: some projects obsess over security, while others talk up wildly but don’t even have code audits; and when you look at the fund pool, it’s obvious the money is mostly burning on buying traffic.

Anyway, I’m the kind of slow-to-warm person. I’ll dig through on-chain records, see whether the team keeps showing up to interact, and that feels more solid than just talking about ideals out of thin air. Positioning is like growing flowers—take it slowly, and don’t pour too much water all at once.