Insane to think that I've been doing crypto full time for almost 5 years now. I was looking back at some of my older newsletter posts in chronlogical order, and when I read them over I could remember exactly where I was when I wrote each of those posts (200 pieces). Even my approx net worth at the time. This has truly been a journey. Reflecting back it's safe to say that we've been in a bull market. Are we still? Maybe, but I feel this is starting to become a bit less relevant now when the institutions are here. It's not a bull market, it's not a bear market, it's just the market. I've seen countless tokens come and go. Amazing to see some of the older projects still building. And if you are a founder today: focus on finding pmf before launching a token. Also I hope we see several projects follow Hyperliquid's path in making killer projects without raising capital, and/or more tokenomics models that only reward the team if they're a success. The job is not finished. Cheers to the next 5 years.(Route 2 FI)