"In a Bull Market, Everyone is a Genius; In a Bear Market, True Skills are Revealed – The Two Paths of Sun Yuchen and Baichuan"
Brothers, I recently saw a news article that really moved me. In 2019, Sun Yuchen spent $4.56 million to have lunch with stock god Warren Buffett, and the whole internet laughed, saying he was showy, performing, and would definitely fail. Interestingly, that year, Sogou CEO Wang Xiaochuan even publicly "predicted" he would fail, even feeling ashamed to record a show.
What happened? Years have passed, and the “crypto circle old youth” Sun Yuchen, who was once ridiculed, has long become an industry giant, with projects larger than ever and assets more astonishing. On the contrary, those who looked down on him then have now found themselves in a predicament. Baichuan Intelligent has recently seen executives leave, business directions in turmoil, and a funding crisis, living in a startup maze.
This reminds me of the cruelest saying in the crypto circle: In a bull market, everyone is a genius; in a bear market, true skills are revealed. Baichuan Intelligent has changed directions from finance to education to healthcare, and in the end, resources have become scattered, employees are confused, and capital has retreated, living like "headless flies." Although Sun Yuchen has faced continuous controversy, at least he has stuck to one path, focusing on the cryptocurrency track and global layout, not swaying from direction even when criticized.
The crypto circle is actually similar to entrepreneurship; you can make mistakes, but you cannot run around aimlessly. Direction is a hundred times more important than effort. Today's market sees Zhipu valued at over 40 billion, and the Dark Side of the Moon securing $300 million, while Baichuan hasn't even attracted investors after Series A; Li Yanhong's remark that "99% of AI companies will die" is coming true.
Brothers, don't laugh at Baichuan, and don't deify Sun Yuchen. You and I in the crypto circle, are we not also betting on the future? Striving desperately is not as good as first clarifying the direction, figuring out what you want to do, why you're doing it, and how far you want to go. This is the true skill that will allow you to endure until the next bull market and laugh until the end. #加密市场回调 $AWE