A few hard to accept truths that I think the market can handle after the past couple years of performance: 1. Prices aren't cheap. The tokens down 80% aren't cheap. The things underperforming deserve to do so. 2. 80%+ people in this space are incompetent relative to their seniority in any other industry, and will be weeded out over time 3. Poor aggregate fund performance is a function of 1. a bad investable universe (tokens from 2018-2024) 2. bad fund managers We need to accept that our industry isn't taken seriously because it historically hasn't deserved to be. I'm optimistic about the future only because I think the excesses that needed to be shed after 2021 are only now finally starting to occur. This is short-term painful and still may lead to most market participants' deaths that are still alive and kicking, but it's very likely necessary for "crypto" to succeed.