In the past, I went to Shanghai and Singapore, and I realized that making money in these two places is really easy.

First, let's talk about Shanghai. I visited a bathhouse where people were packed together, shoulder to shoulder. When I finished washing and was drying off, the distance between everyone was no more than 0.5 meters. Honestly, it was quite awkward.

Thinking about the bath centers in my hometown, the two largest chain stores in the city had poor business and had to merge into one. The place was almost empty, and the owner was operating at a loss.

Then there was Singapore. I was dining there and found that Green Tea Restaurant actually had to queue. When I went to get a number, the waiter directly told me that all the numbers for today had been issued, and I should come early tomorrow if I wanted to eat.

You should know that Green Tea Restaurant usually isn't busy at our Yintai. Apart from Haidilao, I rarely have to wait in line for Chinese food, because there are so many alternatives—Youth Commune, Jinjiamen, Jiu Wu Jing Cuisine, etc. The Chinese restaurants in shopping malls are just too competitive.

Sometimes, it's not that your dishes are not tasty, but that you opened your restaurant in the wrong place.

The same goes for trading; choice always outweighs effort. Those who focused on Perp Dex this year and those who focused on the MEME track last year can achieve significant results. Conversely, those who stubbornly stick to secondary markets may find it hard to make big moves this year.

Finally, I want to end with a quote from Charlie Munger: The first rule of fishing is to go where there are fish.