黄群慧：未来产业在多路径试错阶段允许泡沫，但一定是市场共同追逐形成的泡沫

Core Viewpoint - The future industry possesses both strategic importance and high uncertainty, necessitating increased investment while diversifying significant risks [1] Group 1: Investment Strategies - The state should establish a future industry guidance fund, maintaining a "guidance" role rather than becoming the primary investor [1] - The guidance fund should leverage market-oriented patient capital, venture capital, and innovative capital to create a multi-layered, relay-style financing system [1] - Financial innovation space should be left to the market, with regulatory bodies moderately relaxing controls within the framework of technology finance [1] Group 2: Market Dynamics - The future industry is in a multi-path trial-and-error phase, where the presence of bubbles is acceptable, provided they are formed through collective market pursuit rather than government-driven initiatives [1] - Successful paths will emerge after a rigorous selection process, akin to "survival of the fittest" in the market [1]