Fourth free meal in Chengdu | Lamb soup! Met up with the fourth wave of KOLs~ Feels like the whole space has fully entered bear market mode. Most people’s ad revenue has basically hit zero, many project ambassador collaborations have been completely paused, and quite a few bloggers are in semi-hiatus mode... ————————————— Last night, had grilled fish at Kaojiang with @EvaCmore, @jesseBitget, @hualunjiejie, @GoldenCicada! zhaozhao is super into Kaojiang’s fish~ In Chengdu and not eating hotpot? Then go for Kaojiang! ————————————— Here are a few takeaways from the chat: 1. For KOL bloggers and KOL DAOs, most of the deals come from agencies and project teams. But now, project teams are slashing budgets for media and KOLs, so times are tough across the board. 2. At this stage, collaborating with mom bloggers to subsidize grocery money delivers results that aren’t much different from working with regular bloggers. Naturally, budgets are being prioritized for mom bloggers with better cost-effectiveness, leaving fewer opportunities for regular bloggers. 3. All prosperity is fundamentally built on market conditions. Without a market, without “live people,” there’s really nothing left. 4. That early-stage agency that everyone’s been wanting to cozy up to has already entered rest mode. 5. After perps, the next big opportunity is likely prediction markets. 6. We’ll stay active until the next cycle!