Drinking and chatting with the bosses of VC is the most helpful for the growth of your industry.
Author: ZTZZ ฿
I'm almost being used as an HR by my friends. Everyone comes to me for girls, operations, BD, and the most outrageous is asking for a CEO. Despite the complaints, as the milestone of reaching 10,000 followers is approaching, let's talk about some advanced knowledge in the coin circle. After writing, it turned out to be over three thousand words. Believe me, after reading it, you will definitely gain something.
Secondary Funds
The vast majority of secondary funds only make money in bull markets, and it's considered good if they don't lose their pants and run away in bear markets.
Please do not invest in any secondary funds managed by traders who are not native to the coin circle. Do not invest in any secondary funds established by traders from the A-share, Hong Kong stock, US stock, or futures markets.
In my personal experience, a good secondary fund's trading team should not exceed three people.
I personally do not recommend retail investors to invest in secondary funds because it's very difficult to encounter good ones.
If you insist on investing, please remember that the returns of secondary funds can be fabricated, and the actual trading can be fake. Talk less with marketing personnel and more with traders. When you invest in secondary funds, you are essentially investing in the trading team.
KOL
Please understand first that people whose main identity is KOL basically don't need to be paid attention to. People who have their main job in the coin circle and are willing to share can be looked at. KOLs who have reached the top of the industry in the coin circle and are willing to share their methodologies should be focused on.
When it comes to KOLs, it's about subtraction, not addition. Gradually filter the KOLs you follow, understand how they make money, and the more they can make money from various ecological positions, the more they will contribute valuable information and the less likely they will easily take advantage of you.
There are KOLs who specialize in cultivating a specific track, such as NFT, DEFI, inscriptions, and speculation, etc. Please pay attention to KOLs who have made a lot of money in these tracks, have their own methodologies, and have been consistently sharing them. These KOLs are generally outstanding among retail investors, but due to strong path dependence, they are not good at other tracks. If you can sense the rotation of sectors, you can make good use of the methodologies and information provided by these KOLs.
For KOLs in secondary trading, knowing three to five of them is enough, and it is recommended to maintain a friendly relationship with one or two offline. When you have a certain trading ability, these one or two trader friends will know you well and will be honest with you and warn you at critical moments.
Do not believe in KOLs on Twitter who boast and act like your close friends! Do not believe in KOLs who brag about being rich or having a good background every day! Do not believe in the profit screenshots or insider information from these KOLs!
Exchanges
The ecosystem of top exchanges and small exchanges are completely different.
The primary goal of exchanges is user growth, and making money comes second.
I always recommend newcomers in the coin circle to learn from large exchanges.
Large exchanges and VC incubating their own projects are the cradle of talent in the coin circle.
Do not think that large exchanges will run away, and large exchanges will not do evil.
VC
Top VCs and small VCs are completely different creatures. You can ignore them if they haven't experienced a complete bull and bear market cycle. Every bull market will see many new VCs being established, then they will be very successful, and then they will lose their pants. They don't even have a complete investment logic, but they generally think they do.
The profit-making ability of VCs mainly comes from primary investments, but the profit margin of primary investments in the coin circle gradually decreases with the bull market cycle. Most VCs did not make money this year.
If you have the opportunity to chat with VCs, it is more helpful to listen to them talk about their failed investments in garbage projects.
Drinking and chatting with the bosses of VC is the most helpful for the growth of your industry.
The correct way to learn from VCs is to join them. It is absolutely not about reading their research reports and following their investment calls, but systematically observing what a VC is investing in, what the logic is, how the project is being promoted, the performance after launch, judging whether the VC is making money, and whether the project is successful. It is about tracking an entire chain and thinking independently.
Technology
Most projects' technology is a mess, including some projects that retail investors praise as amazing. To understand the technology of a project in the coin circle, you need to spend a lot of time learning the basics and then mingle with the geeks in the coin circle.
Technology itself can also be marketed.
Technology is not that important in a project, but it determines the upper limit of the project.
Do not listen to in-service technical personnel from the Internet talking about technology in the coin circle. The technology circle of blockchain is completely different from theirs, and most of these people are both arrogant and incompetent.
Do not idolize the geeks in the coin circle, and do not follow them to buy coins, but please respect them!
Marketing
Project teams that do not understand marketing will definitely fail.
If a project's director of operations comes from a traditional large enterprise or the Internet and does not have a track record in the coin circle, the project is likely to fail. On the contrary, if a project's director of operations has a background in pyramid schemes, you should pay close attention.
Most project teams' marketing is very poor. A complete project operation network includes: operational framework, brand building, community operations, crisis public relations, new media operations, and channel maintenance.
A great director of operations will bring many resources from within the industry. They will update their marketing network every bull market to ensure the effectiveness of their investment channels and to keep up with the times. The earlier a good director of operations joins a project, the more powerful impact they can bring to the project. For example, project teams often come to me and say, "Our director of operations messed up. He spent a lot of money on KOLs, but it didn't bring in volume, Z, please help." Next time, project teams, please don't come to me about this. Also, do you know how many KOLs make money?
Chat more with outstanding directors of operations, and you will find that they generally have similar traits and are very remarkable when they start a business. For example, the boss of a second-tier top exchange is a former director of operations.
BD
I do not recommend newcomers to work in BD because after quickly connecting with many people, you will become anxious and have confused thinking, making it difficult to clarify how to make money.
Great projects do not need BD, and BD is useless for mediocre projects.
The essence of BD is to rely on social skills for a living, but social skills are a basic ability that everyone has. Unless you have exceptional skills, the ecological position of doing BD work is fragile.
BD should learn some other skills to strengthen their competitiveness within the industry.
I didn't plan to talk about BD, mainly because retail investors don't come into contact with it, but since I've written it, consider it as a career guide for you.
Project Teams
Top project teams have resources far beyond what retail investors imagine. They are often incubated by top industry leaders working together, so you must embrace top projects.
The direct profits of common coin circle project teams can be simply summarized into two aspects: the money raised by the project and the money from the secondary market. High-quality project teams will take VCs and many retail investors to make money, ordinary project teams will take VCs to make money from retail investors, and project teams that don't want to continue will make money from VCs. Stupid project teams not only do not make money, but also inexplicably lose money.
Projects in different sectors have different characteristics. In fact, narratives have different levels. Top-level narratives guide revolutions, secondary narratives guide funds, tertiary narratives have wealth creation effects, and quaternary narratives are nothing. I have fabricated complete narratives for many project teams before, and the narrative level determines the upper limit of the project.
Investing in a project is essentially investing in people, and this statement is equally valid in the coin circle. If you are fortunate enough to know the project founder, you should talk to them more and observe them carefully.
I always encourage retail investors to try to start a project, even if it's the smallest project, because it can help you quickly raise awareness. In the coin circle, the project team is the center of everything.
There is so much to say about project teams, and the focus for retail investors and practitioners is completely different. Let's talk about it separately in the future.
Retail Investors
Do not become a lamb to be slaughtered in the original sin, but strive forward and dance with the sickle.
You will never make money beyond your understanding, unless you rely on luck, but the money you make by luck will often be lost due to your lack of ability—BY: "Wealth Flow".
The coin circle is a compensation for character and understanding, not a reward for effort. Unless you change your character, the people you associate with or the books you read, and break your original understanding, five years from now will be completely the same as now. Choice is greater than effort. When an opportunity comes, dare to take a heavy position, hold it firmly, have good guiding thoughts, a good circle, good logic, all of which are indispensable. Ultimately, money flows from people who are internally calm—BY: Shen Yu.
You are here to make money, do not hold long-term hostility and disdain towards anything, such as VC coins, pyramid schemes, MEME, or stupid KOLs. Arrogance is the biggest enemy of discovering ALPHA in the coin circle.
You will find that in the 5 points for retail investors, I did not talk about any practical experience, but rather focused on some principles. That's because retail investors have actually seen too many KOLs talking to them about various success stories. Those who have the ability have long stopped being retail investors. Those who can break away from being retail investors just need a little motivation or some key points to pull them out. And for most people, they are only suitable to be retail investors for their whole lives. Not becoming a lamb to be slaughtered is already the best outcome for them. For them, the essence of investment is:
Lambs, choose a sickle.
Let me conclude this article with a conversation from the Sichuan Emperor Trump:
"Mr. Trump, you’ve done great things in your life, and I just wonder how do I as an average person begin?"
“Well, first of all never think of yourself as average. You started off with the wrong question, because you’re not average. You’ve got a lot going. I see you’re smart, I see you’re very beautiful, and you’re right against there.”
A girl asked Trump: "Mr. Trump, you’ve done great things in your life, and I just wonder how do I as an average person begin?"
Trump answered her seriously: "Well, first of all never think of yourself as average. You started off with the wrong question, because you’re not average. You’ve got a lot going. I see you’re smart, I see you’re very beautiful, and you’re right against there."
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