On April 23, PANews reported that Jack Yi, founder of Liquid Capital, posted on the X platform: "A core reason for the past wave of crypto VC and project demise was that the funds raised were basically consumed by: maintaining teams to develop useless web3 products. The biggest misconception was comparing them to web2 products. Essentially, web3 is a financial industry, and there's no need to repeatedly develop web2 products. In the past, the most successful companies in the crypto industry were all financial products, from stablecoins and exchanges to payment companies. Now, with the arrival of the AI ​​era, firstly, there's no need for large-scale fundraising to hire teams, and secondly, AI + finance presents new opportunities. We believe that an excellent founder leading a few elites can create a top-tier company, which is currently the biggest opportunity in primary investment."