Dragonfly Capital：2023 年 Crypto 投资需要吸取的 10 大教训

DeFi之道Published on 2023-01-17Last updated on 2023-01-17

Abstract

Dragonfly Capital 每年都会总结一些重大的经验教训。今年我们总结了，作为风险投资者，在 2023 年需要吸取的 10 大教训。

Dragonfly Capital 每年都会总结一些重大的经验教训。今年我们总结了，作为风险投资者，在 2023 年需要吸取的 10 大教训。

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将这些内容分享出来应该会很实用。👇

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1. 尽调真的很重要。

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2022 年的 FTX、LUNA 和 3 AC，让业内每个人都上了一课。

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不管创始团队看起来有多么光鲜，如果你不去验证他们说过的话，你最后一定会遍体鳞伤。

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2. 当一切看起来很疯狂的时候，可能确实很疯狂。

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去年，估值和叙事都太超前了。我们觉得有点不对劲，后期的估值是不可持续的。但是人们可能很容易忽略这一点，并且认为：“好吧，市场肯定比我聪明”。

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但其实不然。

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3. 更快更努力地推动交易达成。

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我们在 2022 年犯下的其中一个错误就是在我们看好的交易上进展太慢。在风投领域，速度就是一切——但这并不意味着以牺牲尽调为代价。然而，如果你的动力不足，那么随之也会失去一笔交易。

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4. 不要嘲笑疯狂的想法。

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疯狂的想法往往只是疯狂的。但有些时候，他们可能会改变一切。

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以开放的心态倾听每一个提案。想象一下，如果这个创业者是对的，会发生什么。想清楚后果。

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未来通常看起来都很奇怪。

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5. 不要盲目追随“以太坊酷小孩”（并非人人都是 Vitalik）。

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Crypto 中有很多看起来很时髦的想法和概念都并不符合人们真正的需求。如果你投资了这些概念，你可能会为自己赢得一些影响力，但这并不是明智的投资。

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6. 宏观环境可以摧毁一切。

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今年各资产类别的表现主要由宏观环境决定。宏观环境的转变会改变你评估增长的方式、判断单位经济效益的方式以及各行业的相对估值。你必须重新考虑一切。

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7. 监管很慢。

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对于有些投资，你可能会过早地与其划清界限：“这一定会被监管。”但监管所需的时间永远比你想象的要长得多。

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你因为担心监管放弃了这笔交易，然而它增长了 50 倍（和一笔小小的罚款）。

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8. 业务清晰的公司会被抬价。你需要找到独特的优势才能赚钱。

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如果人人（成长型投资者）都能看到一家公司或者一笔交易的潜力，那么就需要付出高昂的成本。这笔投资不会赚到钱。

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要想赚钱，你需要找到自己的独到见解。

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9. 最好的交易通过都是由品牌赢得的。

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赢得交易主要是营销，而不是销售。当你出现在提案会上时，大部分工作已经完成。如果你不被认为是创业者的好的合作伙伴，那么赢得这笔交易就更难了。

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预先投资品牌。

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10. 不要相信其他 VC 的判断。

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因为如果你去看其他 VC 在投资什么的时候，你很容易开始审视自己：我们是不是落伍了？我们看不懂这些吗？我们不是真正的信仰者吗？

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做真实的自己，只投资对你有意义的事。

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11. 2022 年对 crypto 投资来说是残酷的一年。但可能是我作为投资者经历过的最具教育意义的一年。

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1.2k Total ViewsPublished 2024.12.17Updated 2024.12.17

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