Recently in Dubai, many people have asked me a question:

As talents from universities start entering the cryptocurrency space, are opportunities for ordinary people diminishing?

I believe this is actually the true beginning of the blockchain industry's prosperity, and we can draw inspiration from the development of the internet.

In 1995, the first batch of internet pioneers emerged in China, including Zhang Shuxin, Tian Shuneng, Jack Ma, and others. Back then, just like today’s web3, having a good "concept" or "narrative" could attract funding and traffic, but ultimately, they failed to find a profitable model, unable to effectively connect the internet as a technology with the demands of real life.

"We knew we would make money after 2000, but we didn’t know what to do now."

That’s what the internet pioneers said back then.

Confusion is always a necessary path for any emerging industry.

However, what came after 2000 was not spring, but a harsh winter. In April, the U.S. Nasdaq stock market ended its rapid rise and suddenly plummeted, losing $8.5 trillion in market value within six months. Almost all internet companies faced severe setbacks, entering a "valley of disillusionment."

Regarding this period of history, Wu Xiaobo said: "The internet economy once vividly and dramatically disrupted the past modes of company development and wealth accumulation. Yet, ten years after its arrival, the eternal laws of business cruelly and straightforwardly told everyone who yearned for success that, like every previous story, all growth must undergo trials and tribulations. Future glory will prove that crises are the best teachers, and all suffering is worthwhile."

No matter how new the technology or how great the concept, they must all follow the laws of business; this is the way of the world.

The bursting of the bubble serves as a wake-up call, prompting those who truly believe in the internet to rethink its value and applications and to set off anew.

In 2003, after more than two years of silence, the internet returned to a boom era. Sina, Sohu, Baidu, and Alibaba finally found profitable models through exploration, marking the true beginning of the internet age.

Following this, talents from universities flocked in. Their arrival allowed the applications of the internet to truly permeate every detail of people's lives, developing countless products and applications, and ushering in an era of "equal opportunity."

Previously, the power of discourse was held by a few intellectuals. The emergence of forums and social media platforms allowed everyone to express their views, leading to the rise of KOLs;

Previously, workers in film and media had to undergo professional training, with stars being products of capital. The transformation that made images and videos easy to operate allowed everyone to become a creator, leading to the emergence of internet celebrities.

…

These are all results of the influx of talent.

The blockchain industry must also undergo a similar process: astonishing wealth stories, a succession of treasure hunters, repeated hopes and disillusionments, rebirth and breakthroughs after silence, the influx of talent, the comprehensive explosion of the industry permeating all aspects of life, and everyone having opportunities!

Fear of the unknown is human nature. But let us not forget that creating a better future life is humanity's nature and commonality. Therefore, do not fear talent; they are here to make the future of blockchain more real and attainable.

So what can we do now?

Japanese management scholar Kenichi Ohmae, when examining the state of China's economic development during the reform and opening-up period, noticed that Chinese entrepreneurs at the time, influenced by a restless environment, could not seriously, patiently, and willingly endure solitude to develop a single product. He proposed that "focus is the only way to make money. Enter an industry, specialize, and then globalize; that is the only way to profit."

In our web3 terms: Build!

We focus on building this industry, and by walking towards prosperity with it, we can share in that prosperity. Greatness is achieved through perseverance; this is an unchanging rule.