In the eyes of many VC practitioners, they are the vulnerable group in this industry. To use a more pretentious word, in the four-party game between project parties, VCs, exchanges, and retail investors, VCs lack a "handle" and have no voice, so they can only passively compromise.

For retail investors, VC coins have now become a derogatory term, and investors' attitudes towards VCs have changed from following them in the past to disenchanting them, and even disgusting them.

According to a previous survey conducted by TechFlow, the influence of "well-known VC endorsements" in investment decisions accounts for only 31%, even lower than KOL recommendations.