本篇文章来自Twitter，是投资人Jason Choi 对过去4年，100多次交流的总结。我不了解这位投资人，但对于他总结的内容，非常认可。以下是对内容的翻译，以及我的理解。欢迎指正。
Ask not what you can build on a blockchain, but what use case you can improve 10x by building on one.不要以区块链作为出发点，去捉摸可以做什么？要找到一个场景，使用区块链之后可以有10倍的提升。不要犯这样的错误：“拿着锤子找钉子”，这时候我们看任何一件事，都像钉子。区块链不是万能的，在适用的领域提升10倍是更好的选择。如果在所有的领域好像都可以，但都不是必须的，只会成为落后的生产力。
Building a dapp doesn't absolve you of the need to think like a business owner.构建一个DApp，并不能解决一切，更不能忽略商业模式，我们仍然要作为一个企业家通盘思考。
Shipping marginally improved versions of incumbents are not a product strategy.
Skeumorphism is not a business strategy. <insert Web 2 idea>, but on a blockchain, is unlikely to be the basis for a scalable product.模仿不是商业策略。把Web2的成功经验，构建在区块链之上，不像是一个可扩展产品的基础。所谓见路不走。如果在Web3里，见到的仍然是Web2的路，这是不合适的。Web2和Web3的关系，可能不是替代，而是Web2+3。
Run away from trends. If you’re building for DeFi or NFTs simply because they are in vogue, you will struggle eventually.远离潮流热点。我们不能因为Defi和NFT热门，就去构建这类产品。这样，最终的会遇到困难。这一点，我深有感触，曾几何时、初来乍到，我看到的都是可以做的事情，东搞搞，西搞搞，今天这个概念，明天那个概念，结果不仅什么也没做好，反而钱没了。风水轮流转，我们要在风水转过来的时候，已经准备好了开炮。
Many otherwise smart founders focus too much on building products for 1,000 crypto native users.许多原本聪明的创业者，在少数的加密原生用户身上倾注了太多的精力。目前Web3行业，唯一的刚需是行业内部的原生需求。这种行业是很脆弱的，就像多米诺骨牌一样。我们在构建Web3的产品，第一原则就是解决了外部用户的什么问题，提升了什么价值，有多少倍的提升。
Tokens as rewards are a go-to-market strategy and a customer acquisition expenditure, not a business model.代币是一种市场策略和获客的手段，并不是一个商业模式。谨慎的运营代币，注意代币吸引的用户是什么类型，是满足了投机的需求，还是别的需求。消费者也是投资人。如果投机分子在这里赚到了钱，反而伤害了用户，这往往是不可持续的。
Businesses that require continual growth in token price to work are ponzi schemes, not businesses.需要持续增长代币价格才能运作的企业是庞氏骗局，而不是可持续的商业。价格增加应该是结果，不是原因。因果倒置的项目，都是旁氏。
Credentialed founders often fall in the trap of scoffing at degens, only to wonder why no one uses their product.有“追求”的创始人经常陷入被赌徒们嘲笑的境地，也许只是因为他们想知道为什么没人用他们的产品。但被赌徒们嘲笑没有关系，因为他们并不是用户，他们只是想赚一笔走人。更多的只会伤害用户。
“Going multichain” is not a business strategy but lazy window dressing for retail investors.支持多链并不是一个商业策略，只是一种吸引散户投机的策略。往往都是产品增长缺乏动力，才想着到新的链上割一波。正好一些散户也想着到新的链上，赌一波。
Crypto obsesses too much on ideas and not enough on processes. Good builders optimize products, great builders optimize processes.
Your early investors and users are the seeds of your community. Align your actions to attract the type of seeds you want.你的早期投资者和用户是你社区的种子。调整您的行动以吸引您想要的种子类型。
Build to engage users, not to impress VCs. Half the founders in crypto forget this.面向用户构建，而不是为了给 VC 留下深刻印象。一半的加密货币创始人忘记了这一点。
Prefer 100 highly engaged users over 10,000 passive token holders.比起10,000 名被动代币持有者，更喜欢 100 名高度参与的用户。
There are two communities: one that uses your product, and one that buys your token. Founders often mistakenly assume the two overlap more than they actually do.有两个社区：一个使用你的产品，一个购买你的代币。创始人经常错误地认为两者的重叠比实际重叠更多.
Only launch a token when you are ready to manage a public company.
Founders tend to focus on refining token model when growth stalls. Optimizing for token models (ve- tokens / buy and burn) before you generate meaningful fees is time wasted.创始人倾向于在增长停滞时专注于完善代币模型。在产生有意义的费用之前优化代币模型（ve-tokens/回购和销毁）是浪费时间。
Token velocity seems like a myth in a bull market; it is often revealed to not be so in a bear market.牛市中代币的流动性看起来像是个神话，但在熊市中，伪装就被揭露下来了。谁在裸泳，一目了然。
Bad investors can’t kill your company, but good investors can help you go a long way (see thread on how NOT to raise funding)糟糕的投资人会毁掉你的公司，但是好的投资人会长期陪伴公司成长。
Make +ve EV decisions. Funds raised are for growing your startup; the marginal 10-20% you make on farming with your treasury won't affect your success, but can bankrupt your company.募集的钱应该用于公司的成长，从金库中拿出10-20%去投资defi不会带来成功，反而会搞垮公司。
If most of your users' activities are onchain, leverage that data to make educated business decisions. Too many teams neglect readily available user data.如果您的大多数用户的活动都是在链上进行的，那么利用这些数据做出有根据的业务决策。太多的团队忽略了现成的用户数据。
Because Crypto Twitter celebrates cults of personality, some founders assume they must build a prominent profile for their products to achieve success. This is false and reversed - popular products make prominent founders.由于 Twitter上的Crypto圈子推崇个人崇拜，一些创始人认为他们必须为他们的产品建立一个突出的形象才能取得成功。这是错误的和颠倒的——流行的产品造就了杰出的创始人。
It's not just about TVL.Have quantifiable metrics to aim for and constantly re-assess both the progress in reaching those metrics, and the suitability of said metrics as a proxy for growth.并且不断的评估达到目标的进展，以及评估这些指标是否合适用来描述增长。
Be careful with confusing narratives with traction. The faster unearned value is accrued, the faster it will be destroyed.小心混淆叙述与牵引力。未赚到的价值越快，销毁的速度就越快。
"Build it and they'll come" may work in a bull market but is never a scalable distribution strategy.“构建它，他们就会到来”可能在牛市中奏效，但绝不是一种可扩展的分发策略。
Technical superiority alone almost NEVER wins.
Do not underestimate the fickleness of retail consumers driven to your product for speculative reasons.不要低估出于投机原因购买您产品的消费者（或者叫做投机者）的反复无常。
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