Recently, there have been suddenly many people talking about the Kondratiev wave.

The first time I heard about this thing was several years ago when a big name in the industry mentioned it—back in March 2016, a well-known analyst gave a speech with the theme "Life is a K-wave."

The evaluation of this theory in the circle back then was quite polarized. I remember many people directly criticized it, saying: "Those who believe in the K-wave are just stupid."

However, that big shot has his own opinion: he believes that the cycle theory does have reference value, but the problem is that ordinary people, even if they know that cycles exist, find it very difficult to accurately determine which stage they are currently in. What's even worse is that even if they make the correct judgment, most people lack the courage or resources to truly seize the opportunity.

So does this theory have any use? It's a matter of perspective.