Jeff Yan, founder of Hyperliquid, shared insights from his early startup experiences in an interview with When Shift Happens. Yan discussed his 2018 prediction market project, which launched alongside competitors like Kalshi but ultimately failed. He noted that while the infrastructure approach of 'off-chain matching, on-chain settlement' was sound, the primary challenge was achieving product-market fit. As the market transitioned from a bull to a bear phase, user interest in on-chain products waned, highlighting the difficulty of sustaining engagement. Despite the project's failure, Yan emphasized the valuable lessons learned during this period. He expressed satisfaction in seeing peers from that era who persevered and are now advancing towards broader adoption of blockchain technologies.