Jademont
Jademont|11月 01, 2026 18:47
A cousin of mine, about to graduate, asked me for job recommendations. She's hoping to get into Web3, but she's hesitant. I told her a lesson: young people should be very cautious about joining any market where VCs aren't active, unless they believe they're far more capable than their peers and can survive the cutthroat competition in established companies. Because VCs are typically the epitome of gullible investors with plenty of money. They'll rush in with their money for a low-probability possibility, and they can bring along a bunch of LPs and their fan base. I talked to a few projects that recently listed on top exchanges, and the pattern was basically the same: high control over spot trading, exploiting the community with futures contracts, market makers taking the lion's share, the project team taking a smaller share, and VCs getting the scraps at best. In the end, without exception, the project team gets cursed by the community, making little money but incurring significant losses. Most of my peers in the crypto VC field are already inactive, which means the industry's profit structure is basically solidified. But VCs don't really care. They can easily invest their money in other sectors, or if all else fails, they can just buy Bitcoin and hold onto it. I'm just curious about the players at the top of the food chain. Back then, when you forced project teams to tear up agreements already signed with VCs and forbade them from issuing tokens to VCs via TGE, otherwise you wouldn't list the tokens, did you ever think about this day?
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