The entrepreneurial cafes in Zhongguancun have undergone a transformation from Web3 to AI, reflecting the ups and downs of the tech startup wave.
Early cafes like Garage Cafe and 3W Coffee were important symbols of internet entrepreneurship, attracting many young entrepreneurs. Although customer consumption was low, the cafes provided a platform for exchanging ideas and securing investments.
As the internet venture capital boom subsided, Meta Space took over, becoming a gathering place for Web3 and AI entrepreneurs. It witnessed Web3's journey from frenzy to silence, and the rise of generative AI.
Cafe owner Liu Jialiang observed the following characteristics in the transition from Web3 to AI:
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Most people chasing trends are the same group, sensitive to new trends.
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AI startups are more low-key and cautious than Web3, with entrepreneurs reluctant to share project details publicly.
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AI-related activities and customer flow have decreased, with entrepreneurs preferring closed-door communications.
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The information gap in AI startups is larger, with lower costs to realize ideas, leading to more secrecy among entrepreneurs.
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After July 2023, the AI investment boom cooled somewhat, with investors becoming more cautious.
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AI startups face challenges in technology, funding, talent, and other aspects.
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Compared to Web3, AI startups focus more on practical applications and business models.
Overall, the AI startup boom has gone through a process from frenzy to rationality. Despite challenges, some persist in exploring this field. Entrepreneurial cafes have witnessed this transition, reflecting changes in the tech startup ecosystem.