Web3 "Guess the Train": Jumping into the Crypto Rabbit Hole, Restless Youth
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Web3 "Guess the Train": Jumping into the Crypto Rabbit Hole, Restless Youth
Web3 might be a false carnival, while Web2 is left with nothing but real disappointment.
Navigating Web3 tides with focused insights
"Choose life. Choose a job. Choose a career. Choose a family. Choose a fucking big television. Choose washing machines, cars, laser discs. Choose good health, low cholesterol, dental insurance. Choose mortgage payments. Choose friends. Choose matching suits. Choose DIY and leisure wear. Choose a three-piece suite on hire purchase. Choose flat-screen TVs, games shows, snacks... Choose your future. Choose life… But I chose not to choose life. I chose something else."
The above is a quote I copied from the opening monologue of *Trainspotting*, though I don’t actually remember this “classic line” at all. All I recall is the image of young people constantly running, accompanied by an exhilarating montage—as if youth itself can only survive through endless running.
Looking back in old age, one’s entire life may hinge on just a few casual decisions made in youth—like jumping from WEB2 to WEB3.
Most people’s first impression is that moving from WEB2 to WEB3 must be for higher salaries and more opportunities, especially given the media narrative that “WEB2 is already past its prime.” But we later realized it's not entirely true.
In terms of global compensation structures, top-tier internet giants and international investment banks remain the ceiling for white-collar workers. In reality, some professionals have left Silicon Valley tech giants or leading private equity firms to join elite international crypto funds—even accepting pay cuts of one-third or even half. They abandon their high-paying pasts in search of a new way of living, and new possibilities in a new world.
What drives someone to make such a leap from WEB2 to WEB3? Do they regret it? What have they gained and learned along the way?
With these questions in mind, we interviewed four restless young people who made the jump from WEB2 to WEB3, to explore their journeys.
Dov: From Dollar PE to MASK
Hi everyone, I’m Dov. My background is primarily in U.S.-dollar-denominated venture capital funds in China. I’ve interned across early-stage angel rounds, growth-phase, and late-stage PE (private equity) funds, learning a great deal from my mentors and accumulating extensive experience in the Web2 world.
But when it came time to decide what I truly wanted to do long-term, I ultimately walked away from what many peers see as the glittering path of dollar funds—the so-called pinnacle of finance—and joined the Web3 wave instead, chasing my passion and beliefs.
As Zhang Xiaolong once said, “Web3 might be a false celebration, while Web2 is left with genuine disappointment”—a sentiment I find deeply resonant.
Let me start with that real disappointment.
My last role was at a leading U.S.-dollar PE fund. The pay is high, but the environment is cutthroat—extremely busy and rather oppressive. I worked about 15 hours a day, with almost no days off.
I learned a lot in this mature and professional industry, and I’m very grateful to my mentor who taught me so much.
However, I realized this lifestyle wasn’t sustainable for me. Moreover, dollar PE has a rigid hierarchy and clear glass ceilings. It’s ideal for those seeking stable, high-paying careers—but for someone like me who likes to shake things up, it wasn't a great fit. The big opportunities belong to senior partners, not newcomers.
Secondly, dollar funds rose to prominence thanks to the boom of China’s mobile internet. Companies like JD, Pinduoduo, Meituan, TikTok, and Kuaishou brought glory to these funds—one successful bet could elevate a fund to top tier. But that was the past.
The golden era of mobile internet is fading. With geopolitical shifts and anti-monopoly regulations, the only sectors left seem to be hard tech and new energy—both deeply rooted in manufacturing, far removed from the internet monopolies that dollar funds excel at investing in.
Meanwhile, U.S. capital investing in China’s core technologies is fundamentally problematic. How could China allow foreign ownership of critical tech? And how could the U.S. tolerate China advancing in high-end technology?
New energy, on the other hand, is largely dominated by RMB funds. So what sectors are left for dollar funds? I don’t know. Maybe in two years, this industry won’t even exist. Based on both personal temperament and macro assessment, I left traditional dollar PE.
Now let’s talk about the "celebration" of Web3.
For someone with a non-technical, business-focused background like mine, sectors like new energy or manufacturing offer little opportunity where I can leverage my strengths. I wouldn’t have a competitive edge there. After evaluating all options, Web3 seemed to be the only viable path—and fortunately, it also aligns with many of my personal beliefs.
I decided on Web3 because the most talented young people around me—whether in hardware or software—are entering this space and thriving.
Before making the leap, I spoke with around 20–30 impressive investors, founders, and young professionals. Every single one was bullish on Web3 and planning to dive in. From a talent-supply perspective, this field is destined for robust growth. As long as the sector moves forward, your value will grow with it.
All effort and choices must align with cycles and trends. Few can create their own tides—how many world-changers like Jobs or Musk can you name? Not many. So I follow the trend, seeking industries with Beta, fishing where the fish are.
Not looking up at the sky, not choosing industries with tailwinds, is foolish. If sheer hard work guaranteed wealth, the richest person in the world would be a donkey.
After picking the right sector, you must act at the right time. Let me warn you: the global economy is heading toward a major recession. Opportunities for young people are scarce—not due to personal failure, but systemic market conditions. So don’t panic. Follow the cycle and do what needs to be done.
In bear markets, rest, learn, reflect, cultivate inner strength, and expand your influence within the community. Find a safe harbor to weather the economic winter. If every day you’re worried about layoffs, your energy will be drained by anxiety and fear—you’ll accumulate nothing. Only by surviving can you thrive when recovery comes.
Anodime, From Influencer to Web3 VC Investment Director
I don’t have a particularly dramatic background. I started writing young—attended the Lu Xun Literary Institute under the Chinese Writers Association at age 7, later became a member myself, published articles and books early on. You can find my works on WeChat Reading if you search.
Thanks to my early writing skills, overseas education, and Tencent acquiring NBA broadcasting rights, I became one of China’s first female streamers and on-site reporter for the Portland Trail Blazers. In 2009, verified on Weibo, I gained my first wave of followers. Leveraging my writing and photography skills, plus a life of travel and studying abroad, I evolved into a social media content creator. Today, I have around 5 million followers across platforms.
As a content creator, there are basically only two paths: B2B (brand collaborations) or B2C (starting your own store, mentoring other creators, etc.). Neither suited me. I kept asking: how can I turn traffic into tangible outcomes? I tried investing in restaurants, launching fashion brands—both failed. Eventually, I moved into knowledge monetization and built my own communities, including a Web3-focused one today.
Travel blogging is an industry where experience doesn’t compound positively with age—there will always be younger girls who look better on camera.
I definitely benefited from Web2’s social media boom, but I didn’t see strong long-term career prospects. Most influencers just fall into path dependency. I realized I couldn’t keep going down this road—it wasn’t about effort, it was a directional issue.
So I returned to school. After graduation, I entered finance: first at PwC, then SM Management, followed by a return to the U.S. to work at an equity research firm covering public companies. Finally, I chose Web3 and now serve as an Investment Director at a VC firm.
Initially, I lacked deep understanding of Web3, but people in this space are open and eager to share. Along the way, I’ve made many new friends and continuously strengthened my knowledge. I believe as long as you keep learning, absorbing, and contributing, Web3 has no dead ends.
I think the idea of “taking detours” is paradoxical. I don’t consider my failed entrepreneurial attempts before Web3 as detours. Nor do I view time spent elsewhere as wasted. Every point in our past eventually connects into our unique path.
My reasons for joining Web3 are crystal clear. Web3 aligns perfectly with my values because it’s a borderless world—something that resonates deeply with me after 13 years of living globally.
Another reason is that the nature of Web3 reflects how I believe the world should evolve. Everyone knows Web1 was read-only, Web2 added interaction (write + read), and Web3 introduces ownership (own + write + read). Using tokens to represent ownership is, to me, a revolutionary financial innovation.
Finally, I hope to transfer my Web2 social media expertise into the Web3 space, continuing to produce meaningful work. I also want to deeply engage with the projects I invest in—especially in operations and media, areas I know best—helping them grow from zero to maturity alongside founding teams.
Zishi: From Big Tech to a Trading Platform
Hi, I’m Zishi. I started interning at an investment bank and fell in love with finance. I applied to over 120 companies and finally landed a role at a mid-sized VC. I began focusing on gaming and entertainment investments, then moved to Tencent for game strategy, followed by Quantum Studios for various strategic research roles.
The bottleneck at big tech was that I could only see what a company looks like at scale—from 100 onward—but never witness the journey from 0 to 1, or 1 to 100.
At Tencent, no matter your role, you’re rarely pivotal. Major initiatives don’t depend on you. Then I looked at Shenzhen’s housing prices and calculated that after 30 more years of work, I might afford a toilet. I wanted to enter a higher-return field, giving myself more savings and broader career potential while still young.
Another reason I left Tencent was timing. I joined during its final peak—shares rose from 500 to 700, then plunged to below 200. It hit us all: “The bubble burst. Everything reverted to true value.”
What did this era teach us? A painful lesson: by simply following the times and your company, riding the tide, you can generate immense value and wealth. But what happens when growth stops? That’s a challenge many young people haven’t yet faced.
My entry into Web3 came from its promise: more money, more meaningful contributions. You can contribute to a DAO, impact more people and organizations, and do more influential work.
Last year, we hit several exciting projects—Gala Games, Big Time, Thetan Arena, and CloneX—making huge profits. This year, we lost it all, even more than our initial capital. Amid such macro shifts, individuals struggle to resist or react effectively. Without experiencing this loss, you can’t grasp how an invisible hand is harvesting global wealth.
That was our biggest detour. The lesson: go with the flow.
Opportunities to earn money are brief; losing money and setbacks are the norm. You must discern when opportunities arise and act decisively within your capabilities. But before that moment, restrain yourself—focus on learning and self-improvement.
My biggest takeaway? I failed to exit at the peak, failed to reflect deeply in real-time, and failed to adapt to changing times.
So here’s my plan: For now, I’ll abstain from all secondary market trading and focus on helping friends build and contribute to the ecosystem—doing whatever I can. Help a friend, help a project, help a company—emit light, lend strength.
Having experienced multiple project cycles, helped teams secure funding or listings, I want to use my experience to support others and participate in shaping this system. I also hope to discover better models that enable broader participation in Web3.
This is an irreversible wave. During the steam engine era, factory owners resisted mechanization fearing labor displacement, leading to regulatory battles. Similarly, electricity took time to adopt and required public education—progress varied by region and acceptance level.
Take the internet—it had low initial adoption, yet its transformation was profound. Regulation evolved through conflict: early concerns over data leaks, national cyber policies, debates between open-source and closed systems, algorithmic exploitation. Over time, oversight improved gradually.
What Web3 needs most is to uncover real utility—to find compelling reasons why people must join or can’t live without it. While we each figure it out individually, perhaps we’ll spot a distant mast on the horizon—a mere line at first. But when the ship emerges, we’ll realize it’s an ocean liner. Right now, we see almost nothing, not even a mast. So we wander, anxious—but certain that one day, the giant vessel will reach shore.
Alex: From Top-Tier Investment Bank to Web3 VC
I currently work as a researcher at Foresight Ventures, focusing on NFT and GameFi sectors.
Previously, I worked at CICC (China International Capital Corporation) in fixed income. But there, individual effort felt irrelevant—growth speed and career development were heavily constrained. In contrast, emerging fields like Web3 accelerate personal growth dramatically.
In traditional or highly hierarchical industries, individual effort matters less—you're just a cog. That’s precisely why I wanted to leave. I wanted to make a real impact, to do something different.
I explored various directions and received multiple offers, but ultimately chose Foresight. I liked its aggressive culture. As a young person—or in any sunrise industry—you need upward momentum to drive progress.
I enjoy novelty. I don’t like staying in one environment too long—that’s exactly why I embraced Web3. I genuinely enjoy learning about it. As for challenges, I haven’t faced many, mainly because I transitioned from a prestigious traditional finance role, which carried significant opportunity cost.
Except for those with families or children—whose switching costs are higher—I believe young people should take bolder risks to capture greater Alpha. Higher risk, higher reward.
During the last narrative-driven bull market, many succeeded simply because they “dared to dream and dared to act.” The bold got fed; the timid starved.
The Web3 community tends to be younger and more aggressive—very different from traditional finance. I come from a finance school; many of my peers aim for glamorous banks or institutions. But in our circle, people are grounded—they don’t care how lofty their project sounds, only whether it creates real value. If it delivers value and attracts users, it matters.
In traditional fields, people say, “I’m young, I should accumulate.” Accumulate by joining a big firm, train for two years, jump to another, train for three more. After five years, maybe start a company.
But in Web3, you don’t need experience—you just go. If you have an idea, you launch. You can raise funds. Even as a student, you might secure tens of millions or even over $100M in funding.
PartyDAO is a perfect example. It’s essentially a group-buy NFT protocol. I actually had this idea in January, found a co-founder, drafted a whitepaper—but because I hadn’t fully committed to crypto/Web3, I lacked the courage to pitch my deck. I doubted it was solving a real need. Then in April, PartyDAO secured funding from a16z—and honestly, I thought their founding team wasn’t as strong as mine, their vision not as sharp as my original concept.
What I lacked was simply the audacity to act.
My next step is to accumulate—for now, it’s a bear market, not the ideal time. Every VC professional ultimately dreams of launching their own project. I plan to seek solid opportunities and start my own venture. That’s my ultimate goal, and I’ll give it my all.
Right now, my focus is accumulation and patience.
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