Jack Yi (Yi Lihua), founder of Liquid Capital, posted on X: "In the past wave of crypto VCs and project failures, a core reason was that raised funds were largely spent on maintaining teams to develop useless Web3 products—most notably, the biggest misconception was benchmarking against Web2 products. In essence, Web3 is a financial industry and does not require replicating Web2 products. The most successful companies in the crypto industry to date have all been financial products—from stablecoins and exchanges to payment solutions. Now, with the arrival of the AI era, two key factors stand out: first, large-scale funding and big teams are no longer necessary; second, AI + finance represents a new opportunity. We believe that exceptional founders, supported by just a few elite individuals, can build top-tier companies—this is currently the greatest opportunity in early-stage investing."
JackYi of Liquid Capital: Past crypto venture capital and project failures stemmed from misaligned Web2 comparisons; AI + finance offers new opportunities.
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Summary
JackYi, founder of Liquid Capital, told Chaincatcher that many crypto VC and project failures stemmed from building Web3 products that directly competed with Web2. He argued that Web3 is a financial industry and should focus on financial tools, not Web2 clones. Stablecoins, exchanges, and payment platforms are the most successful examples. With the rise of AI, he sees AI + crypto as a major trend. Project announcement opportunities now favor small, elite teams over large funding rounds. He believes this is the biggest early-stage investing opportunity today.
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