2024 is a mirror.

2024 was a mirror, reflecting every heart. The massive external shifts were merely the glass itself — circumstances that made each soul visible, impossible to hide. How are our hearts doing?

Extreme change is the test; the present moment is our answer. Faced with fear and greed, we must ask ourselves: Is this the thought we want to hold right now?

Not long ago, a co-founder of an established company asked me to take a walk. As we chatted, he boasted about how he'd outmaneuvered his partners to extract more from the breakup agreement. I looked at him and asked: Are you happy?

He suddenly sat down on the curb and sobbed.

What is a bond of more than ten years? Only the heart knows the answer.

There was another founder, entirely devoted to his product. It was genuinely distinctive, but it never quite exploded. He didn't raise money this year, and his company was down to two people. Then an investor came along with a big check so he could focus on building — on one condition: make another version for the overseas gray market. He asked what I thought. I asked him what his original intention was in making products.

He thought for a few days and turned the money down. When I asked how he felt, he replied with one word: Freeing!

Is it bitter suffering or genuine joy? Only the heart knows the answer.

The mirror doesn't matter. The circumstances don't matter. The change doesn't matter. What truly matters is the awareness within. Only by recognizing our authentic selves amid massive change can we love ourselves, be ourselves, and unleash our vitality.

Too many founders are on the road every day — for society, for their team, for their family — yet they leave themselves out of the equation. They've calculated the benefits, calculated the responsibilities, but never calculated whether they're happy.

I remember a noodle shop across from my middle school. The owner sold exactly 100 bowls a day, then closed up shop. One day business was unusually good, and I rushed over after school to find him already packing up. I angrily demanded, "Don't you want to make more money?" He said he did, but he also wanted to play mahjong. More money would cut into his mahjong time, and that would make him unhappy.

These past few years, we've insisted on holding offline AGMs in Shanghai. Some LPs fly in from abroad specifically to attend, saying they come to soak up Oasis Capital's confidence and optimism. I tell them it's not that — it's simply that being with founders makes me happy. Happier than mahjong.

On the last day of 2024, as this mirror is about to pass, let us look one more time: Are we happy?

What makes us happy is what we truly believe.

What we truly believe is where we find our ground.

Where we find our ground is where vitality emerges.

Thank you, 2024,

For letting us witness the flourishing of life.