Mysten Labs CEO: The bear market is not "great," packaging it as a positive ignores the real costs

The CEO of Mysten Labs, evan.sui, stated in a recent interview that he does not agree with the notion of "bear markets are great, keep building." In fact, bear markets are not "great" and are not worth celebrating or boasting about. The volatility does not merely "cleanse the market," but can scare away builders and users, leading to a smaller talent pool and slower adoption processes. While bear markets may allow a few teams to focus more, packaging it as beneficial for everyone overlooks the real costs and can harm the long-term development of the crypto industry. During downturns, many people lose their savings, cash flow breaks down, and even some strong teams may not be able to survive, which genuinely harms many individuals.