[Yihua Yi: Web3 is Essentially a Financial Industry, Benchmarking Web2 Products is a 'Misstep' in Development] According to a report by Jinse Finance, on April 23, Liquid Capital founder Jack Yi (Yihua Yi) posted on the X platform, stating: 'The past wave of crypto VCs and project failures had a core reason: funding was largely consumed on maintaining teams to develop useless Web3 products. The biggest misstep among these was benchmarking Web2 products. Essentially, Web3 is a financial industry and does not need to replicate Web2 products. Historically, the most successful companies in the crypto industry have all been financial products, from stablecoins to exchanges and payment platforms. Now, with the advent of the AI era, two key factors emerge: first, there is no need for large-scale fundraising to hire big teams; second, AI+Finance presents new opportunities. We believe that outstanding founders, along with a few elite team members, can build top-tier companies. This represents the greatest opportunity in primary investment at present.'