TechFlow News: On April 23, JackYi, founder of Liquid Capital, posted on X: “A core reason behind the recent wave of failures among crypto VCs and projects has been that raised funds were largely spent on maintaining teams that built useless Web3 products. The biggest misconception here was attempting to replicate Web2 products—when in fact, Web3 is fundamentally a financial industry and does not require duplicating Web2 offerings. Historically, the most successful crypto companies have all been financial products: stablecoins, exchanges, payment solutions, etc. Now, with the advent of the AI era, two key shifts are emerging: first, large funding rounds and massive hiring are no longer necessary; second, AI + finance represents a fresh opportunity. We believe exceptional founders, backed by just a few elite team members, can build world-class companies—this is currently the largest opportunity in primary-market investing.”
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