Core Insights - Fox Corporation's Tubi has achieved a significant milestone by becoming the first major free streaming platform to reach profitability in Q3 2025, completing its annual profit target [1] - Tubi's success highlights the rapid rise of ad-supported video on demand (AVOD) platforms, challenging the dominance of subscription-based services like Netflix and Disney+ [1] Financial Performance - Tubi's annual revenue grew by over 30%, with Q4 revenue increasing by 8% compared to Q3 [2] - The growth was driven by an 18% increase in total viewing hours and a substantial rise in advertising revenue, contributing to a 26% increase in Fox's overall TV ad revenue for 2025 [2] - Tubi maintained over 100 million monthly active users (MAU) by the end of 2025, with an average streaming time of 1 billion hours per month [2] Market Position - Tubi captured 6.2% of total viewing hours in the U.S. ad-supported streaming market in Q4 2025, surpassing platforms like Netflix's ad tier [3] - In November 2025, Tubi surpassed major subscription platforms like Peacock and HBO Max with a 2.1% share of total streaming hours [4] User Demographics and Content Strategy - Tubi's user base is predominantly composed of millennials and Gen Z, with over 70% of new users from Gen Z [7] - The platform's content strategy includes a mix of original productions and classic shows, appealing to younger audiences and enhancing user retention [8] - Tubi's library consists of over 300,000 titles, including a significant collection of horror films, catering to diverse viewer preferences [8] Competitive Advantages - Tubi's growth is supported by a three-pronged strategy: targeting Gen Z, leveraging Fox's ecosystem, and employing a lightweight content strategy [5][10][12] - The platform's partnership with Fox allows it to access premium sports content, significantly boosting user engagement and attracting male viewers [10][12] - Tubi's low-cost content acquisition model enables it to maximize operational efficiency while maintaining a rich content library [12] Industry Trends - The AVOD market is projected to grow from $174 billion in 2022 to approximately $260 billion by 2025, indicating a shift in consumer preferences towards free streaming options [14] - Economic pressures have led consumers to prioritize cost-effective streaming solutions, with many willing to watch ads for free content [15] - The competitive landscape is evolving, with traditional media companies increasingly investing in free streaming services to capture diverse market segments [23][24] Future Outlook - The U.S. streaming market is expected to transition into a dual-track system, with free and paid platforms coexisting and catering to different audience needs [23] - Tubi aims to enhance its advertising capabilities while expanding its user base, while subscription services like Netflix will focus on high-end content and premium pricing strategies [23][24]

Core Insights - Rich Sparkle has completed the acquisition of Step Distinctive, with Khaby Lame holding 49% and Anhui Xiaohaiyang Network Technology Co., Ltd. (Three Sheep) holding 13% [1] - This acquisition positions Anhui Xiaohaiyang as a strategic shareholder and core operational partner of Rich Sparkle, granting exclusive global operational rights for Khaby Lame's content [3] Group 1: Acquisition Details - The acquisition allows Anhui Xiaohaiyang to manage live streaming and short video e-commerce planning, TikTok Shop operations, cross-border supply chain coordination, after-sales service, and AI digital persona development for the next 36 months [3] - The collaboration is seen as a strategic move for both parties, especially as TikTok accelerates its commercialization efforts [3] Group 2: Market Position and Strategy - Three Sheep has established a presence in overseas markets, including Singapore, Malaysia, and Vietnam, and is now among the leading MCN organizations in those regions [6] - The company is not only connecting with existing local influencers but also incubating new ones, while also providing supply services beyond traditional MCN roles [6] Group 3: Domestic Challenges and Opportunities - Three Sheep's importance in overseas markets has increased due to challenges in the domestic market, including penalties and loss of user trust following a false advertising incident [7] - The company has seen a significant drop in signed influencers, from over 2,000 to around 300, and has lost several key influencers [9] Group 4: Cultural and Operational Challenges - The partnership with Khaby Lame presents strategic value but also poses challenges related to cultural differences, consumer habits, and compliance requirements in various regions [11] - Three Sheep's previous focus on Southeast Asia may limit its understanding of markets in Europe and North America, raising concerns about local operational capabilities [11]

Core Viewpoint - The ability to "effectively solve problems" is a key competitive advantage in personal career development and a critical criterion for organizations in talent selection [1] Group 1: Importance of Problem-Solving - Approximately 86% of employers focus on experiences related to "effective problem-solving" when screening candidates' resumes [1] - During interviews, 60% of employers further inquire about specific details to find evidence of candidates' problem-solving capabilities [1] Group 2: Barriers to Effective Problem-Solving - Barriers to effective problem-solving can be categorized into three main types: environmental, social, and psychological [3][4] - Environmental barriers include external and internal factors such as policy changes, market competition, and organizational culture [3] - Social barriers relate to interpersonal dynamics within organizations, including ineffective communication and groupthink [3] - Psychological barriers stem from individual cognitive biases and fixed thinking patterns, which can hinder problem-solving abilities [4][5] Group 3: Cognitive Bias and Single-Minded Thinking - Cognitive bias is a primary cause of "single-minded thinking," which limits the ability to see multiple perspectives and solutions [5][6] - The human brain processes only a fraction of the information it receives, leading to reliance on cognitive shortcuts that can oversimplify complex problems [5][6] - Single-minded thinking restricts individual growth and adaptability in the workplace, as it prevents the acceptance of diverse viewpoints and learning from failures [8] Group 4: Overcoming Single-Minded Thinking - To effectively solve problems, it is essential to break free from single-minded thinking by employing a combination of "meta-cognitive" strategies [10][11] - The "meta-cognitive" strategies include observing and describing, questioning and investigating, reasoning, comparing and connecting, exploring viewpoints, and recognizing complexity [11][12][13] - These strategies form a dynamic cognitive toolbox that helps individuals and teams approach problems from multiple angles and develop comprehensive solutions [19] Group 5: Application of Meta-Cognitive Strategies - The application of meta-cognitive strategies can be illustrated through case studies, such as critical thinking and product management practices [20][21] - In critical thinking, a complete "thinking loop" is necessary to avoid the limitations of relying solely on questioning and criticism [21][22] - Product managers utilize meta-cognitive strategies to identify market needs, analyze complex problems, and develop effective solutions through a structured approach [23][24][25][26]

Core Viewpoint - Jianghuai Automobile (600418.SH) has raised approximately 3.5 billion yuan through a private placement, with notable participation from prominent investor Ge Weidong, who invested 1 billion yuan [1][10]. Group 1: Fundraising Details - The final pricing for the share issuance was set at 49.88 yuan per share, with a total of 70,168,404 shares issued, raising around 3.5 billion yuan [1][2]. - The funds raised will primarily be used for high-end intelligent pure electric passenger vehicle projects [3][8]. - All shares subscribed by the investors will be locked for six months post-issuance [3]. Group 2: Investor Insights - Ge Weidong's investment of approximately 1 billion yuan for 2,004,811 shares highlights confidence in Jianghuai's collaboration with Huawei in the high-end intelligent electric vehicle sector [10]. - The market is optimistic about the "smart car + AI" model, which is seen as entering a product explosion phase [3][10]. - Ge Weidong's investment strategy focuses on long-term trends, particularly in AI and automotive sectors, indicating a strong belief in Jianghuai's potential [10][14]. Group 3: Company Performance and Future Outlook - Jianghuai Automobile has delivered a total of 12 million vehicles globally and anticipates a sales volume of 384,100 vehicles in 2025, reflecting a year-on-year decline of 4.72% [3]. - The company expects a net loss of approximately 1.68 billion yuan for 2025, attributed to increased competition in the international market and losses from joint ventures [9]. - The company plans to launch three new models under the "Zun Jie" brand in 2026, aiming to strengthen its position in the ultra-luxury market [6][8].

为什么最近西方媒体开始重新讨论中国的知识产权？ 最近，有一件事挺有意思。 两家背景、立场并不相同的西方媒体——《The Economist》《The Diplomat》，几乎在同一时间，写了同一个主题"中国的知识产权保护"。 表面看，它们写法不同： 《The Economist 》从具体案例写起； 《The Diplomat》从制度和国家战略分 析。 长期以来，中国在国际叙事中有一个稳定形象。发展快、学习快，但对知识产权保护不够严格。 这个 判断，在特定历史阶段，并不是空穴来风。 早期的发展路径、技术引进方式、制度成熟度，都影响了 当时的现实。 所以，两篇文章有一个共同点， 它们并没有否认过去。 真正的问题是： 如果现实已经变 化，我们是否还在用同一套解释框架？ 二、不是态度变了，是位置变了 理解这两篇文章，有一个非常重要的视角转换。 它们讨论的重点，并不是"中国的价值观有没有改 变"， 而是一个更现实的问题，中国创新的激励结构变没变。 你可以这样理解， 当一个经济体主要靠 模仿和引进发展时， 知识产权更像一种外部约束； 但当原创技术、品牌和内容开始成为核心资产， 侵 权就会直接伤害自己。 这不是道德问题，而 ...

Core Insights - Nike announced a significant organizational restructuring plan on December 2, 2025, which included the elimination of the Chief Technology Officer (CTO) and Chief Commercial Officer (CCO) positions, and the reinstatement of the Chief Operating Officer (COO) role, filled by Venkatesh Alagirisamy [1] - The restructuring is part of the new CEO Elliott Hill's "Win Now" strategy aimed at addressing the company's recent decline [1] - Following the leadership changes, Nike's subsidiary brand Converse is undergoing a major restructuring and layoff plan, indicating deeper issues within the brand [2] Financial Performance - Nike's Q2 FY2026 revenue was $12.4 billion, a 1% increase year-over-year, but net profit fell by 32% to $792 million, with a gross margin of only 40.6% [2] - Converse's revenue peaked at $2.43 billion in FY2023 but has since declined significantly, with FY2024 revenue at $2.08 billion (down 14%) and FY2025 further dropping to $1.7 billion (down 16%) [2] - In FY2026, Converse's Q1 revenue plummeted by 28%, and Q2 saw a 31% decline, resulting in only $300 million in quarterly revenue [2] Profitability Concerns - Converse's EBIT fell from $209 million in 2022 to $15 million in 2023, and by Q2 FY2026, it reported a loss of $4 million, marking a complete collapse in profitability [3] - The drastic 44% cut in marketing budget has not improved financial conditions but has instead weakened brand competitiveness, creating a vicious cycle of reduced budget leading to lower exposure and declining sales [3] Brand Comparison - In contrast to Converse's struggles, the Jordan brand is experiencing steady growth, benefiting from a strong cultural influence and clear positioning [4] - Converse's operating profit margin is only 6.54%, with a net profit margin of 5.43%, both of which are declining [7] Systemic Issues - Converse's financial troubles stem from multiple factors, including unclear positioning, outdated image, and declining cultural relevance [7] - The brand's reliance on a single product line, particularly the Chuck Taylor All Star, has become a burden, as the market demands both classic and innovative offerings [12] Strategic Outlook - Nike's current strategy focuses on cost-cutting and core business concentration, making it unlikely to invest heavily in Converse's brand revitalization [8] - The probability of Nike selling Converse in the long term is higher than that of successfully revitalizing the brand, as the "Win Now" strategy prioritizes immediate performance improvements [13][14] - Historically, Nike has divested underperforming non-core brands, and Converse's current performance aligns with the criteria for such divestiture [14]

Core Insights - The departure of Mrinank Sharma, the senior AI safety lead at Anthropic, raises concerns about the direction of AI development and the underlying values guiding the industry [1][4][17] - Mrinank's resignation reflects deeper worries about the interconnected crises facing humanity, suggesting a need for a reevaluation of ethical considerations in AI [9][10][11] Group 1: Departure Reasons - Mrinank cited a conflict between internal pressures and the core values emphasized by the company, indicating a struggle to align actions with principles [4][11] - He expressed a desire to contribute in a way that aligns with his inner values and principles, leading to his decision to leave [12][13] - The concept of "poly-crisis" and "meta-crisis" was introduced, highlighting the complex challenges humanity faces beyond just AI or biological threats [9][10] Group 2: Achievements at Anthropic - During his two years at Anthropic, Mrinank focused on the phenomenon of AI "sycophancy," exploring why models cater to user preferences even when incorrect [6] - He developed defense mechanisms against AI-assisted bioterrorism risks and implemented internal transparency measures to ensure values were integrated into the organization [7] - His final research questioned whether AI assistants could diminish human qualities, reflecting on the broader implications of AI on human judgment and values [8] Group 3: Future Aspirations - Mrinank has not disclosed his next steps but has chosen to embrace uncertainty, indicating a shift towards a more humanistic approach [14][15] - He plans to pursue a degree in poetry, emphasizing the importance of understanding meaning and relationships in a technology-driven world [15] - His future focus will include guiding, coaching, and community building, transitioning from a technical safety role to one that fosters deeper human connections [15]

特斯拉（Tesla）半挂卡车在加利福尼亚州莫德斯托的菲多利（Frito-Lay）薯片工厂充电。图片来源：TNS 埃隆·马斯克（Elon Musk）这款拖延已久的"猛兽"终于投产，可联邦政府对电动车的支持正在减弱，电价上涨也让他宣称的"比柴油车更省 钱"变得站不住脚。 在上一次特斯拉（Tesla）财报电话会上，埃隆·马斯克大谈这家电动车制造商要转型为人工智能和人形机器人强企。他提到即将推出的Cybercab——一款 他声称将不配备方向盘和踏板的双门电动车（前提是监管机构批准），还提到公司将停产Model X跨界车和Model S轿车，而后者正是当年让特斯拉一举成 名的车型。 他补充说，DHL也同样在使用沃尔沃（Volvo）、纳威司达（Navistar）等公司的电动卡车，每辆售价约40万美元，"这个价格后续会下降——我认为特斯 拉的价格降幅会尤其明显。" 对DHL以及百事（PepsiCo）等早期客户而言，购买这些卡车是企业降低碳排放和尾气排放整体战略的一部分。百事已在加州车队中运营至少86辆特斯拉 Semi，属于早期限量生产批次。DHL的目标是到2030年将车队中30%的车辆转为电动，"我们不会动摇这一目标，"蒙 ...

如果日本能建起最先进的半导体工厂，半导体产业就能重获新生。日本人们都内心深处相信这个说法。 凭借巨额补贴、世界上最先进的制造设备以及大规模生产的最小晶体管，这一景象无疑值得成为一个国家级项目，而且似乎也象征着日本半导体产业的复 兴，该产业长期以来一直被认为"已经衰落"。 在这里，笔者想问一个问题：那家半导体工厂真的盈利吗？此外，在日本建设的尖端工厂真的能说是掌握在日本人手中吗？ 2026 年 2 月 5 日，有报道称，由台积电以及索尼、电装、丰田汽车公司等公司出资兴建的日本先进半导体制造株式会社（JASM） 熊本第二工厂（二 期，以下简称"P2"）决定采用 3nm 工艺生产半导体，而不是 7nm 或 4nm 工艺。这一消息似乎被视为日本半导体产业复兴的象征，但令人惊讶的是，很少 有人理解这一决定的真正意义。 让我直入主题。如果我们只看晶圆制造芯片的前端工艺，3nm（N3）工艺拥有巨大的盈利潜力。然而，最终决定这些利润的并非JASM P2，而是JASM的 母公司台积电。本文将基于盈利模型分析这种看似矛盾的结构，揭示日本半导体政策核心潜藏的重大风险。 为什么选择N3而不是N7或N4？ JASM P2最终跃升至N3 ...

时隔三年，曾经站在中国互联网舆论高地的天涯社区居然要重启了。就在2月7日，"天涯神贴"官方微信 公众号发布《与君共创，重启天涯——关于新天涯招募创世成员的公告》，宣布为确保承载着亿万网民 青春记忆、原创内容和人生梦想的宝贵数据完整存续，将推进天涯社区于2026年6月1日恢复访问。 值得一提的是，即将重启的天涯社区还推出了"新天涯创世成员产品服务包"，将招募9999位创世成员， 成为新天涯的共建者与天涯社区重启者。只需花费1999元即可获得包括天涯神贴付费专区10年免费阅读 权限、"天涯重启者"数字徽章以及天涯客高级尊享会员在内的多重权益。 此前在2023年4月，由于遭遇资金流动困难，天涯社区的服务器"欠费停机"。彼时天涯社区对于自身的 境遇相当乐观，官微还在与网友插科打诨，表示"我还能抢救一下"，以及"咱主打的就是陪伴。说一句 暴露年龄的话：我会回来的……" 然而事与愿违，一直到三年后的今天天涯社区才看到了重启的曙光。 事实上，天涯社区早前也尝试过自救。例如执行总编宋铮等前员工以及部分资深天涯网友就曾自发组 织"七天七夜，重启天涯"直播义卖活动，试图为天涯社区筹集到300万元用以支付电信机房等费用。 虽然当时 ...