Al Nechaev of FundersVC highlighted the difficulties in selecting pre-seed startups, citing their low success rates and limited signals for investors. According to Nechaev, liquidity tends to favor established projects in both traditional finance (TradFi) and decentralized finance (DeFi), rather than early-stage ideas. This trend underscores the challenges faced by nascent startups in securing funding and gaining traction in the competitive financial landscape.