As the tide recedes, crypto VCs face a life-or-death test. The bubble of blindly inflated token prices has burst, and industry valuation logic is returning to real revenue.

Homogeneous industries are ultimately fragile; only when different species emerge can a market truly thrive.

Emerging behaviors observed on AI-powered social platforms have raised concerns about AI autonomy and security risks.

"The VC industry is in the process of shifting from a 'judgment-driven' to a 'deal-winning capability-driven' paradigm."