WHAT GAME CAN YOUNG FOUNDERS STILL WIN?

Summary from the TLDR Founders newsletter

Primitive Crypto's Dovey Wan reports a real founder identity crisis in SF and Shenzhen, with multiple founders returning capital to join US LLM labs or Chinese robotics companies because the opportunity cost feels higher than running their own startup. Hyper-industrialized AI in biotech, robotics, aerospace, defense, and energy is capital-dense, regulation-heavy, and sovereign-guarded, ruling out the college-dropout path, while a fintech-2010s analog plays out as operators buy legacy ops and rewire them with AI for hybrid operators rather than default tech founders.