my bull and bear thesis for @almanak bull thesis booming defi market inevitable ai market possible pmf and revenue generator making the financial markets easy financial incentives for users bear thesis poor market conditions failure of pmf to stick tokenization poor execution it is a no brainer that the defi market is booming, we have plays like pendle, aave, uniswap, kamino, jup, exponent all killing it. ai is also an inevitable one. we have bittensor, creator bid and virtuals all cooking as well. defi is a coded evergreen sector, and i think it is surely a viable playground for ai. almanak sits in between these two giant narratives. also, its usecase is one which can find pmf. a lot of people have failed in the financial markets (memes, pumpfun and altseason merchants). almanak can usher in a curator economy. quants build influence users know who to follow users make money, quants as well make money this economic loop if successful is one that ensures that almanak finds pmf and generates revenue constantly. if @NeoAlmanak and @Marcia_Ong can pull this one off, it is going to be game changing for the entire crypto space. with @cursor_ai raising an insane amount, it is eveident, almanak has a strong moat to ride. but what about the things that could go wrong? i'm sorry but this is how you need to look at these projects cos at the end of the day, they are all ran by humans a bear market would be the ultimate rite of passage for almanak. first off, the tokens will suffer and next off, many quants will not be able to keep up. we are seeing it with kaito; when there is failure, people are slow to remmeber the good times. bad market conditions and even poor execution would mean that it doesn't find pmf. and the tokenization issue. unlike hyperliquid that was first successful in making money before launching a token, almanak is doing the opposite by tokenizing first. honestly, many projects have gone this route and were not successful. remember @magicnewton? the idea maybe good but the market is brutal. also, even when the project is actually shipping, people tend to ignore what they are building and focus on pricing. look at this chart and tell me people will really care about project's progress when they are down bad? viewing projects from this lens is how you actually learn to have lower expectations. cos you see the pros and the cons, the possibilities of explosion and implosion. my dear fren, have a bull and bear thesis is every project you are betting on. be it yapping, buying the token, grinding the discord or any form of positioning. this is how you retain mental sanity while having skin in the game. stay brave and see you on the side that prints.