Core Insights - The article discusses the systematic flaws in venture capital evaluation processes, highlighting that many successful companies would be rejected based on traditional criteria used in early-stage assessments [4][6][20]. Group 1: Evaluation Criteria Flaws - The four common evaluation criteria—good idea, large market, experienced team, and traction—are identified as potential traps that can lead to overlooking disruptive innovations [11][24]. - A "good idea" often appears too perfect and is likely to be a mediocre business, as truly disruptive ideas may seem impractical or absurd at first glance [12][14]. - The perception of market size (TAM) can be misleading; early-stage companies like Coinbase and Nvidia started in small, seemingly insignificant markets but went on to create large markets [16][20]. Group 2: Importance of Characteristics - The article emphasizes the importance of characteristics over traditional metrics, advocating for the identification of "cockroaches" (resilient entrepreneurs) rather than "peacocks" (impressive resumes) [32]. - Iteration speed is more critical than initial direction; companies that pivot quickly in response to feedback are more likely to succeed [34]. - The concept of "secrets" or unique insights that others do not see is crucial for identifying potential high-growth opportunities [36][39]. Group 3: Methodology and Approach - The article suggests a methodology of eliminating disqualifying questions that may prevent identifying high-potential companies, promoting a "subtracting thinking" approach [41]. - The article contrasts traditional investment processes that add layers of scrutiny with the more flexible and open approach of Y Combinator, which focuses on capturing exceptional opportunities despite the noise [42][44].

Stablecoin Distribution - Only 3 chains host more than $10 billion in natively minted stablecoins, indicating a power law distribution [1]

💥⚖️ POWER LAW: Stablecoins live on many chains, but only 3 chains host more than $10 billion in natively minted stablecoins. https://t.co/a8aOWz22Q4 ...

Stablecoin Distribution - Ethereum 和 Tron DAO 托管了约 90% 的稳定币总供应量 [1] - Solana 是第三个托管超过 100 亿美元稳定币的区块链 [1]

General Observation - The document visualizes the concept of power law [1]

Power law visualized: https://t.co/ECc8bP6Eld ...

Bitcoin Price Prediction - To reach $1 million, Bitcoin needs to double its price a little over three times [1][2] - The current doubling time for Bitcoin is approximately two years, but it is gradually increasing [1] - Based on the parallel core trend, Bitcoin could reach $1 million around 2033, potentially sooner with market bubbles [2] Volatility Analysis - The standard deviation of the core Bitcoin price trend is about 20% [3] - The standard deviation of Bitcoin bubbles has significantly decreased from over 100% to approximately 37% [3] - The volatility of Bitcoin bubbles is decreasing roughly as a reciprocal relationship to Bitcoin's age [4] Forecast Methodology - The forecast method considers both the parallel core mean and the bubble mean, along with the standard deviation size for the bubble [5] - The right tail of the bubble, specifically one and two standard deviations above the mean, indicates potential extreme prices [5][6] - There's an estimated 8% chance of Bitcoin price being one standard deviation above the bubble mean and only about a 1% chance of being two standard deviations above [6] Power Law Model - The ratio of price increase for the power core can be calculated by taking the inverse of Bitcoin's age, adding one, and raising that to the power law index of 58% [8] - At Bitcoin age 245 years, the parallel core median line is projected to be around $1 million [9][10]