One of the most profitable platforms in 2024, pump.fun, has been online for 217 days and has achieved a net income of 100 million US dollars, creating a fair launch paradise for countless MEME lovers!
I have always been very interested in the team founder of this project. Today I watched a blog on YouTube. Wang Qiao @QwQiao participated in the interview as an early investor. Let’s take a look at what kind of unique life this mysterious and somewhat autistic cryptocurrency entrepreneur expresses!
Since the interview video is quite long, I will simply talk about Wang Qiao’s experience in chronological order.
1. Experience
Wang Qiao graduated from the University of Waterloo in Canada, majoring in mathematics (based on the following information, I guess it should be statistics). After graduation, he went to Wall Street to work in quantitative trading.
In 2017, he devoted himself to the cryptocurrency field and started working at Messari.
The reason I got in touch with cryptocurrency was that when I was doing arbitrage on a gambling platform, $20,000 of my funds were stuck in the bank for a full six months. After I got the money, I immediately deposited it in the bank behind Mentougou. I guess it was around 2016. I used this money to buy Bitcoin, which started a magical "magic moment", reaped a wave of rising dividends, and my wealth began to grow.
It was precisely because of these experiences that Wang Qiang realized the importance of cryptocurrency, and he changed jobs and joined Messari in 2017. Here Wang Qiao mentioned that he was all in on cryptocurrency, and his wife gave him great support, both psychologically and financially.
In 2020, he founded Alliance DAO with Jacob Franek and Imran Khan. This is an incubation organization for innovative projects that will invest in innovative projects. Pump.fun is one of the floating projects.
In 2022, FTX collapsed and the price of Solana fell to $8. Wang Qiao firmly believed that Solana could be reborn because there was a group of Solana developers who still had great enthusiasm and persistence for Solana.
This is also because he experienced the Ethereum DAO hacking incident in 2016 (the famous incident that led to the Ethereum hard fork), and the Ethereum community was split, but a small number of people are still passionate about Ethereum.
Great enthusiasm will inevitably generate great motivation, which is a kind of dedication that ordinary people cannot experience!
2. Some key traits of being a great founder and investor
To be a successful founder, you need two things: thinking and action. Autism is where the thinking comes from, and the action comes from trauma because you have something to prove.
Founder:
1. Born optimistic, preferably to the point of delusion, super confident type of player;
2. Have reverse thinking;
3. Having certain autistic tendencies is a condition for developing independent thinking.
investor:
A natural skeptic; doubting everything, even a little cynical;
Reverse thinking.
3. Personal Investment Strategy
The portfolio includes Bitcoin, Ethereum, Solana, and Coinbase stock.
More inclined to Bitcoin and Solana, thinking that Ethereum is relatively overvalued, more and more entrepreneurs choose Solana instead of Ethereum. Solana's position is higher than Ethereum.
IV. About altcoins and MEME
Altcoin seasons have indeed existed in the past, but this time may be different.
There are two conditions for the occurrence of altcoin season: 1. A small number of tokens; 2. A large amount of funds flowing into the market.
But the situation now is that there are too many tokens, thousands of tokens are created every day, and there is not enough capital injected into the market. Therefore, this cycle may not see a large-scale altcoin rally like the previous one.
I don’t think memes are just a cyclical phenomenon. I think they will always exist. However, the key to surviving in this market lies in the spread of memes and the existence of leaders. Take WIF as an example. Its innovation lies in the “hat” meme, which allows any other meme or avatar to add this element and spread virally. But to survive in the long run, it also needs the support of CEX listing like Binance.
5. Views on the market outlook
I think the peak of this bull market will come after the US election, and there will be fluctuations during the election. I think Bitcoin will reach $100,000, and it would be perfect to predict that the peak of this cycle will be between $100,000 and $420,000.
