The AI and Bots Boom Masks the Innovation Cycle of Crypto Assets

In this issue of "GoodGame," AllianceDAO co-founders Imran and Qiao delve into how the focus of the tech community has shifted from Crypto Assets to AI and Bots. They assess the current development status of Crypto Assets while emphasizing the competitive environment dominated by token issuance driven by exchanges and meme culture.

Robinhood is bridging fintech and tokenized assets, becoming a strong competitor. The discussion also covers the dynamics of emerging startups, the impact of AI on coding and education, and the prospect of junior positions disappearing in the fields of law, medicine, and finance, painting a future where AI-native, founder-led micro-startups reshape industry norms.

The competition among exchanges is fierce, highlighting the challenges for Hyperliquid.

A certain trading platform recently made two significant indirect statements. The first is the Jelly token incident on Hyperliquid, where the platform's trading volume and liquidity have reached controllable levels. Someone opened a short position to extract the value of HLP. Some trading platforms publicly participated and posted on social media, interpreted as a hope for Hyperliquid's failure.

Another example is a trading platform listing tokens from FourMeme, which is a PumpFun clone running on the BNB chain. Tokens like Mubarak and Broccoli were listed, sparking criticism of the platform's direction. But the logic is clear - they view platforms like PumpFun as competitors.

Currently, major platforms are actively competing with Hyperliquid, PumpFun, Jupiter, etc. - this is a battle between on-chain and off-chain. Each player is targeting the same verticals - trading and stablecoins.

Robinhood's Strategic Move Toward Tokenization

Robinhood recently held a press conference, emphasizing their commitment to "tokenization of everything." With a vast distribution network, they are in a favorable position in the market. They also plan to tokenize real estate - allowing users to trade the risk exposure of real estate assets.

In addition, they have launched a cash delivery service - users can request physical cash instead of going to an ATM in person. This may be to capture profitable opportunities in the ATM business. Robinhood seems to be pushing forward comprehensively - traditional businesses, banking services, traditional brokerage accounts, and now even competing with crypto exchanges.

Circle's Strategic Dilemma: Reliance on Coinbase, Global Competition, and On-Chain Transformation

Circle's IPO valuation is between $3 billion and $5 billion. It is worth noting that Circle pays 50% of its reserve income - derived from government bonds and other income-generating assets - to Coinbase. This demonstrates a clear power dynamic: Coinbase has user relationships and is the primary distribution channel for USDC.

Circle seems to be fighting a tough battle. While they currently have a regulatory moat, traditional financial competitors are emerging. USDC dominates in the US, but globally, USDT remains king. Circle is leaning more towards on-chain infrastructure, and the best thing they have built is CCTP - the cross-chain USDC bridge.

Market Sentiment Check: Saylor, GameStop and Liquidity Cycle

Michael Saylor has just secured another $2 billion in financing, while GameStop followed closely with a $1.6 billion issuance. Saylor owns about 3% of the total BTC supply, and his liquidation risk is minimal.

As for the stock market, only a few American stocks are reasonably valued. Google is one of them - it is reviving in AI, and its valuation remains reasonable. Tesla is also worth paying attention to, as it is the most liquid venture investment in AI, autonomous driving, and Bots technology.

AI Competition Intensifies: Google, Tesla, and China's Participation

China has showcased humanoid Bots in public. If investors want to tap into China's innovations, there are now more options available. Tencent is doing serious AI work in terms of data scale. Pinduoduo, led by its founder, is rapidly developing and still feels like a startup.

In the field of AI models, Mistral and Perplexity excel in deep research tasks. Google's Gemini also leaves a deep impression, as its advantage in extracting real-time data ( such as YouTube, podcasts, etc. ) gives it an edge in research application scenarios.

Will AI make coding obsolete? The confrontation between productivity and expertise

The CEO of Replit recently stated: "I no longer think you should learn to code." This sparked controversy, but he may mean that coding is no longer a barrier. Many tech founders report that AI tools have increased productivity by 2 to 4 times. More and more non-technical founders are now using tools like Cursor to quickly develop the front end.

This trend means that you don't need a large team or huge funds to build a unicorn. A few people and AI tools might be enough. Another big opportunity is consumer-facing micro-apps. Using tools like Cursor, anyone can build highly personalized applications.

Tokenizing Liquidity for Micro Startups

We are entering the "micro unicorn" season - hundreds or even thousands of small-scale startups will emerge to solve significant problems for small user groups. These companies may remain small and may never become billion-dollar companies.

Tokenization could become the liquidity engine for micro-startups. This is a perfect use case that can provide liquidity for small startups that will never go public.

Next Generation Builders Choose to Skip School

More and more young people are choosing to skip college and dive into entrepreneurship. Traditional education is starting to feel optional for this generation. True status comes from things that cannot be faked: building products used by millions, taking a company public, or saving lives.

Disrupting Traditional Education with AI Tutors

Alpha School in Texas is using AI tutors for teaching, with students spending only two hours a day on academics, yet performing better than students in traditional schools. AI as a tutor is very effective and could completely disrupt K-12 education in 5 to 10 years.

Children no longer need to endure eight-hour lectures; they can learn the same content in a shorter time - AI tutors will provide personalized teaching based on their pace and interests. This will be much more efficient than regular classroom teachers.

The End of AI Health Assistants and Primary Care Physicians

Apple is exploring AI doctor products, which have great potential. In addition, there are huge opportunities for startups to build AI health assistants. Imagine an AI extracting data from wearable devices, medications, and test results, and providing tailored health advice.

This AI health assistant may eventually replace some types of doctors, especially primary care physicians. AI can provide scalable personalized care, at least offering a second opinion and reducing misdiagnosis.

Legal, Analysts, and Junior Roles Face Threats

Most of the work of junior lawyers, analysts, and researchers can now be handled by AI. Entering these industries will become more difficult for those looking to build a career. They must find new ways to establish their reputation, such as showcasing their thoughts and insights on social media.

Generalists and Experts in the AI Era

The enhancement of generalists by AI may be greater than that of specialists, but true domain experts cannot be replaced by AI. They possess unique insights, edge cases, and experience-based intuition, which AI lacks.

Ultimately, success depends on proactivity. If you are willing to learn, adapt, and develop in depth or breadth based on the situation, you will succeed. If there is a lack of this drive, you will fall behind - especially when others are more actively leveraging AI.

Teach children about agency through AI and books

The key to education is to cultivate children's initiative as early as possible. Let them make decisions on their own, learn from experience, and understand the reasons behind their choices. This is more effective than simply telling them what to do.

The future way of learning should be practical and curiosity-driven. Giving children the freedom to explore while setting some basic learning requirements can cultivate their autonomy and enthusiasm for learning.