Wintermute CEO's internal letter to employees: Prepare for the winter
TechFlow Selected TechFlow Selected
Wintermute CEO's internal letter to employees: Prepare for the winter
The macro economy is facing challenges, but after today, we may likely see the prolonged bear market of 2022 continue.
Navigating Web3 tides with focused insightsAuthor: @wishful cynic, Wintermute CEO
Translation: TechFlow Intern
If I told you the future would be smooth sailing, I'd be lying. The macroeconomic environment is challenging, and after today, we’re likely entering a prolonged bear market that could last through 2022. Trading volumes will dry up, opportunities will become scarce, and general interest in our industry will decline significantly.
To be clear, this is not limited to the crypto world. Fortunately, I joined Optiver back in 2008 as a trader. While it was a great opportunity, from a trading perspective, 2009 was an absolute nightmare—low volumes, fierce competition for rare opportunities, and a persistently declining market. I believe we’ll face a similar global environment this year, not just in crypto or just in trading. Most industries globally seen as “growth” sectors will have to lay off staff to conserve resources, and often won’t be great places to work.
But there are exceptions. Some companies have managed to accumulate cash; some have long-term vision and mission. Unlike others, companies with both these assets possess the resources, vision, and focus to not only survive but actively prepare for the next wave.
If the bear market continues, that’s exactly our plan. We have enough cash to last ten years. We have a genuine mission and a vision we’ve already successfully validated. We have comrades we respect, who’ve bled alongside us. We have competitors preparing to invade—ones we must stop because they stand against our mission. In short, we have all the ingredients for success: focus, inspiration, and joy along the way.
I can't think of a better place to be.
End of monologue. Back to battle.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@wintermute_t
