Da Hongfei 💚 (@dahongfei): #DeepSeek emerges as the dark horse, forcing a market reckoning: U.S. companies are OVERVALUED, while Chinese innovators are UNDERVALUED.

#DeepSeek emerges as the dark horse, forcing a market reckoning: U.S. companies are OVERVALUED, while Chinese innovators are UNDERVALUED. The market's obsession with U.S. tech giants feels increasingly disconnected from reality. In AI, the so-called moats—algorithms, compute, data—are fragile. Algorithms get open-sourced, compute is commoditized, data is shared. Compare that to the internet's network effects: once entrenched, they're nearly unbreakable. DeepSeek's rise is forcing a reckoning—it's not just about who leads today, but who builds adaptive ecosystems. And guess what? Crypto mirrors this dynamic. U.S. projects bask in the hype, while Asian teams quietly ship groundbreaking tech. Yet, valuations rarely reflect it. As a founder of a blockchain project for over 10 years (some call us a "Dino project" in an ironic way), I see it clearly: The future belongs to those who blend agility, execution, and ecosystem-building—not just legacy prestige. Time to rethink the map.