Once upon a time, we would look at projects that went after secondary, non-high-end investment institutions: A16Z, Sequoia Capital, Waterdrop Capital, and so on. The longer the list of institutions, the more awesome the project, and the more enthusiastic they were.
But by 2024, the wind had changed, and we found that we could no longer push forward. More and more projects were listed on exchanges, and each one was like a batch-copied packaged product:
The opening price is low with high circulation and FDV. Each one is a new technology direction + a reliable team. The investment is given with high financing and high valuation to attract the wool party to obtain good data, and then it is listed on the exchange. The project parties and institutions cash out a lot in the bull market, and we little leeks are crying.