Author: Jason Choi

Translation: Deep Tide TechFlow

I read some blogs by VC's about memes. Some interesting points were made, and I sincerely respect all the blog authors.

However, personally, I believe the existence of these articles is the reason people trade memes. No, memes are not yet the cultural Trojan horse, and I don't think they are even a particularly effective market entry strategy.

I understand the need to describe memes in this way to make partners feel comfortable—I've had partners too. But let's face it, we trade memes for one thing: "Fuck it" (author refers to a sarcastic and helpless comment on the lack of opportunities for market participants).

Let me explain. This is just a continuation of a larger trend you see in developed countries around the world: The promise of a future given to the older generation is no longer possessed by the younger generation. The dream of my parents' generation was to have a stable job, buy a house, and raise two children. When I was in college, the most common dream was to become a billionaire tech founder.

Why?

On the one hand, because everyone has seen "The Social Network" and completely missed the point of the movie, idolizing Zuckerberg. (The same goes for the movie "The Wolf of Wall Street," but that's another topic.)

But it may also be because since 1985, the median house price has risen by 80% after adjusting for inflation, and the ratio of household prices to income is more than twice that of our ancestors.

It may also be because now 50% of people have lower income than their parents at the age of 30, while in 1940, this figure was over 90%.

It may also be because the world seems wealthier than ever before, yet somehow, young people inherit less than half the wealth of the past.

It may also be because simply working hard and being an excellent employee no longer provides you with the same opportunities as your parents.

Therefore, if there is no way to move up the social ladder, and the future is just about getting by, why not try and see if you can be the next dropout billionaire entrepreneur?

Next, cryptocurrencies are like an extension of Trenbolone. Today, nearly two-thirds of young adults believe the stock market is a good way to accumulate wealth. But 90% of young people are broke due to rising living costs and cannot afford to invest with an average return rate of 7% per year.

Therefore, due to the huge volatility of cryptocurrencies, you hear stories of people getting rich overnight, and its emergence is like a pending game—if you are early enough, smart enough, and a bit daring, you might have a chance to live a good life.

To the outside world, this is much more dignified than a casino, and for us smart boys and girls, it can also stimulate their intelligence.

You might say, "Well, actually...since the Dutch tulip bulb traders of the 1600s, humans have been attracted to speculative games of 'quick money'! You should read 'Devil Takes the Hindmost'."

But the point I want to make is that what was historically driven by greed is now increasingly driven by despair. Want to feel this atmosphere? Talk to people in their twenties in places like Hong Kong, South Korea, and the United States.

To live a comfortable life, young people must make increasingly risky life decisions on the risk curve.

And they know that this is largely due to the financial decisions made by the previous generation.

Now, this generation also wants to take away the crypto game from them through regulation.

They canceled ICOs under the guise of protecting you, so when these coins finally go public, you can buy them at 500 times the seed price.

They call it "rat poison" while charging hefty fees from customers buying cryptocurrencies.

Oh, these customers? Yes, the same conspiracy group—injecting billions of dollars into venture capital funds, trying to privatize more and more games.

That's why people trade memes.

Yes, it's greed, it's "buying tokens without a surplus supply," it's a gambling game designed for the ADHD generation whose minds have been corroded by smartphones as they grow up.

But it's also a "fuck it—nothing else works" attitude.

But more importantly, it's a "fuck it"—a backlash from young people against the generation they feel has let them down.

But most importantly, this "fuck it" is the young people's response to the generation they feel has failed them. It is this generation that is now trying to take away what seems to offer them a way out through incomprehensible regulations and increasingly privatized opportunities.

Maybe I'm wrong.

Maybe memes are really the next great market entry strategy for startups.