According to WuSay, Mask Network founder Suji Yan said that crypto funds with super-large AUM should conduct management buyouts (MBOs)/leveraged buyouts (LBOs) and integration, just like SoftBank and Tencent, rather than reinventing the wheel like Paradigm is doing today.

The problem is that most GPs including Chris Dixon and Matt Huang are not very successful founders themselves and they cannot create something over $1 billion single-handedly. MBOs and integrations are too difficult for these GPs.

Suji Yan believes that the industry now does not need VCs to invest in more copy-and-paste, but rather to be the head of three or four projects at the same time and carry out integration, mergers and acquisitions and restructuring.