An interesting comparison has been repeatedly triggering my thoughts recently. When Elon Musk's son David wanted to acquire Warner, his funding was questioned, and his father directly pledged $40.4 billion as a personal guarantee—this amount essentially told the world that his son's dream was backed by his entire net worth. On the surface, it's an acquisition deal; in essence, it's a generational transfer of top-tier resources: David is managing the film business, but Elon Musk's capital, connections, and reputation are the true moat.

Turning to the crypto world, this phenomenon has actually been playing out for a long time, but most people haven't noticed. Many new crypto elites who claim to have "started from scratch" often hide behind family capital—initial funds, VC connections, institutional resources—things that ordinary investors simply can't access, yet they can easily obtain.

There is a typical case in 2025. A Web3 project founder under 30, seemingly unknown in the industry, directly received investments from top VCs like Multicoin and Galaxy during the private placement stage, even prompting listed companies to increase their holdings of his tokens. Only later did the truth come out—his father had accumulated considerable wealth in traditional industries, not only providing over a hundred million in startup capital but also using his connections to open doors to VC firms.

This is the standard approach of "resource inheritance." Whether in traditional industries or the crypto market, true competitiveness has never been solely about individual ability but about the invisible resource chain behind it. Elon Musk is like this, and some new elites in the crypto circle are also the same.