Last time Fish participated in an interview was probably back in 2017. Nearly 10 years later, in his latest conversation, he talked about AI, entrepreneurship, and investing, as well as how he currently chooses assets. Fish mentioned that he doesn’t do broad diversification. When he finds an asset he’s interested in, he usually starts with a very small position to observe, then spends time studying its business, market, and underlying logic. If his judgment becomes clearer, he’ll increase the position. For an asset to become part of his core portfolio, it needs to have a sufficiently large market space, a clear business model, and an important position in the industry. He sums up this approach as "monopoly + growth." Based on this standard, the core assets he mentioned currently include Bitcoin, Ethereum, and Tesla. However, he emphasized that this is not investment advice. Time and energy are limited—rather than holding many assets you don’t truly understand, it’s better to focus on a few that you’ve thoroughly researched. When discussing AI, Fish believes AI has significantly reduced the cost of turning an idea into a product. In the past, many things couldn’t be done—not because the ideas were bad, but because execution costs were too high. Now, coding, data organization, and parts of product development can be done with the help of AI, making the entrepreneur’s judgment even more critical. He’s also observing the integration of Agents and blockchain. Fish thinks that in the future, the main users of on-chain networks like Ethereum may not necessarily be ordinary people, but Agents executing tasks on behalf of humans. This prediction still needs time to be validated, but it might become the next intersection of AI and Web3.