Summary of @chameleon_jeff's key points in interview with @WuBlockchain:

- As 2017 Harvard grad, was too late for social media wave, too early for AI, so joined HFT like most math / comp sci grads

- Read the Ethereum yellow paper in 2018 & realized it would be the future on finance

- Witnessed the FTX collapse & saw people were ready for a decentralized, user-focused exchange

- Not a materialistic person, trading teaches you money is just a number, was happy to self-fund Hyperliquid from the start even if it might fail

- When pushing people to try something new, being fully community-owned resonates with a lot of people

- Real progress is not raising a round at $1 million, then $10 million, then $100 million, it's building something your users getting value from & who are able to benefit from the upside (rather than investors who just threw money in at the right time)

- Doesn't recommend all founders self-fund, if you need the capital, ok to raise, but more community ownership is better long-term

- Hyperliquid's team (11 ppl) doesn't have to remain small, more a reflection of being super picky who he works with, much worse to hire the wrong person than not hire at all

- Hyperliquid team/foundation has so far not invested in any ecosystem projects, more fair to let VCs & other outside capital decide independently where to allocate

- Doesn't do milestones, focused on next few things (HIP-3, more asset pairs, general performance) & the long-term vision rather than a sequential roadmap that makes it harder to adapt to a world that's changing quickly

- Hyperliquid has transitioned from application to protocol, focuses on building a performant blockchain & lets other teams build stablecoins, tokenized equities, etc

- Doesn't micromanage, gives people ownership over hard things & pushes them to do more than they're comfortable with, but also important not to step back, remains very hands-on with everything technical

- If you're young/smart/ambitious, AI & crypto are the obvious things to work on, AI takes the spotlight for now, crypto has a much worse reputation but there are a lot of interesting things still to be built here

- Most crypto wealth unfortunately comes from extraction rather than additive value creation, crypto makes it so easy to create demand for a token & then just sell the token

- Only fix is to rewrite crypto from the ground-up where ownership/control is not centralized, we have a 2nd chance to make a good impression by building valuable things

- Largest startups likely continue to be built in the US due to culture of dreaming & challenging status quo, Eastern/Chinese values are humility, work ethic, & doing > talking, both very valuable & complementary worldviews

- Really hard to make long-term price predictions, but don't think bull vs bear market matters much for what Hyperliquid is building