ScalingX founder’s autobiography: Awe of the market, ten years of crypto adventure
Written by:Jayden Wi
In 2024, I will be 33 years old in a few months. It is also the time when I start to devote myself toBlockchain10th year in this field.I remember when I applied for an Australian green card as an international student, 5 points were deducted from the scoring system if I turned 32. From this perspective, it seems that I should lament that I am "old".
But I think it won’t be a problem for our generation to live to be 100 years old. So it seems that I have only lived one-third of my life.If a person's life is calculated as 24 hours, then I am still the sun at 8 o'clock in the morning. Every time I think of this, I feel that I am still far from reaching the Prime of my life.I am even often very confident that my wealth will be earned after I turn fifty.
Some people think that I must be a rich second generation because I can study in Australia. Actually, I am not. When I was studying in Australia, I was often in financial difficulties. Although it was a business school, I turned it into an "adult night school". I tried to schedule my classes in the evening, and tried to make money during the day. I stayed up late to do homework while starting a business. I was not a top student. I was a little smart when I was young, but there was still a big gap between me and the top students in North America. I can only say that I didn't know the world at that time. I just managed to graduate, and Australia just happened to accommodate me.
In 2014-15, I started to actively organize offline groups in Melbourne.Xiaobai NavigationI organized a Bitcoin Meetup and became a well-known opinion leader in the local community. To this day, my colleagues and I still hold regular offline exchanges in our office on Collins St. The Australian cryptocurrency community is very small, and I was probably one of the few people who held the most Bitcoin and Ethereum among all the Australians I knew at the time.
My company had been running for a while when I got my graduate degree from business school at the age of 26. I encountered the raging bull market in 2017 right after graduation, and by secular standards, I was considered to have “financial freedom”.But the first time you have money it does not mean you are really rich, especially the money earned by luck, which is often lost by your own strength.Like all normal entrepreneurs, I later experienced betrayal by team members, fraud by partners, and other pitfalls that entrepreneurs often fall into. The most difficult time was probably in late 2018 and mid-2019. During the bull market, I didn’t cash out. I had a lot of altcoins and didn’t have much cash. In order to support the team, I had to sell the valuable coins at a low price. The most profound thing I learned from that bear market was:You must have enough reserves. When the market is in chaos, you will see who still has cash.
Fortunately, the cryptocurrency world provides reckless young people like us with many opportunities to make mistakes.With the outbreak of the epidemic and the Fed’s loosening of liquidity, although I got up early and arrived late in DeFi Summer, the bull market in the cryptocurrency circle arrived as expected, which finally gave me a sigh of relief. When the number of wealth once again broke a new high and my age also reached the beginning of 30, I was no longer arrogant and began to be low-key. It was this market that educated me and made me realize my immaturity and shortcomings when I met many truly outstanding people.
By the way, here are some personal updates for my friends in the past two or three years:
2021 is another wild bull market, and the ICOs I invested in 2017/2018 finally gave me a good return. I sold out my FILCOIN investment at around $120, and my Polkadot investment at around $42. Of course, I also bought ICP... (I actually participated in the ICOs of all the "death-level" projects that year.) Although I made some money from these projects, I had no sense of accomplishment.Looking back, I can only say that this is an investment with no self-consistent logic, and it was just a matter of luck. But clearing out the positions at the right point is indeed a "ruthless" skill that I learned after paying countless tuition fees.After cashing out the funds that made me feel at ease and the salary reserve of the team for 10 years, I decided to take a break and travel around. After all, the epidemic has locked down people for several years, which almost made people depressed.
At the end of 2021, I went to live in Singapore for a while and fell in love with it. Although my family is still in Australia, I decided to spend 2/3 of my time in Singapore every year. In the following time, Singapore gradually became the hub of Web3 in Asia, with entrepreneurs not only from China but also from Australia.exchangeCome to Singapore to get a license. Singapore has gradually become a bridge between the East and the West for Web3, and this is what I have been doing all these years.
After the pandemic ended in 2022, more and more friends chose to come to Singapore.OGBC Innovation HubThe decoration is done. Actually, the office space for me is not very big, so I turned it into a place where we can gather and communicate.I define it as an Innovation Hub. What we do is not complicated. We just keep holding events and repeating simple things to help entrepreneurs and investors.
We have received many high-quality projects from all over the world to come to Asia for roadshows, and even Worldcoin came to us and took the initiative to launch the first Orb in Asia. We have become the real Web3 Hub in Singapore. Whenever there is a large-scale cryptocurrency event in Singapore, we are often crowded here. I personally still like the feeling of popularity gathering.
I did meet a lot of excellent entrepreneurs and investors face to face, because some of them rarely appear in offline activities, but they appeared in my office. The one that impressed me the most was when the CEO of Nansen came to visit me. I was thinking that when Nansen started, several co-founders worked remotely and had never met each other. I may have met their CEO more times than their co-founders. When I thought of this, I was happy again. As an ENFJ personality, I am so easily satisfied.
At the beginning of 2022, I went to Silicon Valley and met a friend who had failed in his entrepreneurial career and was looking for direction to start a new business. We chatted for several hours after not seeing each other for several years.Later, at the end of 2022, we summarized our past failed experiences, hoping to help more entrepreneurs, so we worked together to create a Web3 accelerator.ScalingXthe origin.In mid-2023, I, as a partner, also became a partner of an emerging VC in North America. In Q1 2023, ScalingX and Ethereum’s largest developersCommunityWe held a hackathon with Gitcoin, and later held two acceleration camps with European and American VCs, encouraging investment in more than a dozen very early-stage primary projects. In the process of helping these early projects, we have formed a very excellent new team, which makes me feel very accomplished. These two days I saw the team write the 2023 year-end summary, and they actually organized more than 60+ events online and offline. It seems that most of the time in the past two years has been spent on organizing events online and offline.
Now several of my closest colleagues are starting their own businesses. They may not have dared to think about it before. I have always encouraged outstanding people to start their own businesses. (What I recall in my mind at this moment is "try hard once and you will be rich for three generations"???) In 2022, a colleague who worked with me in 2017 started to prepare a Liquid Venture, and I became his first investor. He named this fundGreythornThis name is good, because I found that the performance of Gray is very good. For example, Grayscale, Graylock, so it is not impossible for Greythorn to become a towering tree in the future, mainly because the people are reliable...Greythorn did not disappoint me. It is one of the funds with the highest returns I have ever invested in. It has basically captured all the popular alphas in 2023 and outperformed Bitcoin and Ethereum.(Of course, I also participated in many investment decisions, so I’m just bragging about myself)
In fact, this industry is always reshuffled, and only by constantly learning can you avoid being eliminated.I have seen many "big guys" disappear, and I have also seen many young people soaring to the top. This is the charm of this industry. I was also seen as a "young man soaring to the top" in everyone's eyes. I used to be young and frivolous, but now I have learned to be more respectful.
Respect the market, learn to manage risks in the ups and downs of the market, and learn how to survive in this industry;I respect the senior OG who is motivated and keeps working hard.Their experience is our guiding light. Let us learn from their knowledge and work together to make the industry shine.Awe of talented young peopleIf there is a chance, try to help them succeed. They are all future bigwigs. Because I have started a business before, I want to help more people who want to start a business.
I believe that the next two years will be another super bull market in the cryptocurrency circle. How will you welcome this overwhelming wealth? After keeping the wealth, how will you give back?
I used to have nearly 100,000 followers on Weibo, but then the domestic policies became unfriendly and many bloggers left Weibo, so I rarely updated. After coming to Twitter, I rarely write in Chinese. In 2024, I set a goal to write more content in Chinese and make more new friends:)
The article comes from the Internet:ScalingX founder’s autobiography: Awe of the market, ten years of crypto adventure
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