以下文章来源于盐财经 ，作者李含章、陈慧 盐财经 . 洞察趋势，睿智人生。《南风窗》旗下专业财经媒体。 在Z世代的消费词典里， 黄金的"保值"属性固然重要，但并非唯一。 文 ｜ 李含章 陈慧（实习生） 编辑 ｜ 江江 来源｜ 盐财经（ID：nfc-yancaijing） 封面来源 ｜ IC photo 这届年轻人正在用买盲盒的方式买黄金。 当传统金店还在靠"克重"和"纯度"吸引长辈时，一股"轻量化黄金"的浪潮已悄然席卷"Z世代"。 站上潮头的，是被称为"珠宝界泡泡玛特"的潮宏基。 它把黄金压成0.1克的"大饼"，联名线条小狗、黄油小熊等顶流IP，让"200块拥有金币快乐"成为社交平台的新谈资。 演员沈月佩戴潮宏基黄油小熊联名产品 凭借这套"小克重+强情感"的组合拳，潮宏基不仅在今年9月正式向港交所递交上市申请，而且10月底公布的2025年三季度显示，其营收猛增近三成，突破 62亿元。 然而，当潮宏基用IP联名拿捏Z世代心智的同时，其财报却暴露了"增收不增利"的利润困境。 潮宏基的掘金之路，不仅关乎一个品牌的转型，更折射出当下黄金消费的核心逻辑之变：我们购买的，究竟是保值资产，还是一种可佩戴的情感价值？ 用小克 ...

以下文章来源于Vista看天下 ，作者邵楚芮 Vista看天下 . 一个永远理解你的朋友 很多人都渴望被在意的人"秒回"， 但理性告诉你，不能要求别人太多。 文 ｜ 邵楚芮 来源｜ Vista看天下（ID：vistaweek） 封面来源 ｜ unsplash 打开这条推送时，你的朋友回你微信了吗？你能接受屏幕对面的人多久不回消息？5秒、5分钟、5小时，还是更久？ 你是否遇到过这样的情况：忍了一天的夹板气，好不容易熬到下班，刚走出公司，你掏出手机，点开和朋友的对话框就是一顿输出。 你期待着朋友的倾听、共鸣、一起吐槽出气，但直到你躺上床了，微信界面里还是只有一串绿色的语音条。深夜，困意袭来，你最终等到朋友一个敷衍的表 情包。 你知道，对方也累了一天。 在线上社交占据大部分时间的时代，"秒回"是个让人又爱又恨的词儿。在钉钉上，工作消息一旦"已读"便如催命符般，逼着人回复；而朋友及时的一句"在 呢，咋啦"，又能瞬间抚平你的emo。一天到晚，我们忙着"秒回"领导、同事，却难有更多的时间精力去"秒回"真正在意的人。内心深入，很多人都渴望被在 意的人"秒回"，但理性告诉你，不能要求别人太多。 在这种矛盾之中，秒回师这一职业 ...

Core Viewpoint - The rise of tennis has significantly boosted the concept of "sportcation," where sports become the central purpose of vacations, particularly through tennis-focused travel experiences [10][11][12]. Group 1: Market Trends - The popularity of tennis has led to a surge in tennis vacation camps, with a notable increase in participation and interest among younger demographics, particularly post-2021 [15][16]. - The number of registered tennis players in China is projected to reach approximately 25.19 million by 2024, reflecting a growth of 28.03% since 2021 [15]. - The market for tennis vacation camps is characterized by a split between deep enthusiasts and casual participants, with the former being more loyal and willing to spend [30][31]. Group 2: Consumer Behavior - Younger consumers are increasingly seeking active vacations that combine sports with leisure, moving away from traditional sightseeing trips [10][11]. - The average level of participants in tennis vacation camps tends to hover around 2.0, indicating that many are new to the sport and may not have the commitment to improve significantly [31][32]. - Social connections formed during these sports vacations are often deeper due to shared experiences and challenges faced during activities [34]. Group 3: Business Challenges - The high entry barrier of tennis, requiring significant time investment to reach a playable level, poses challenges for attracting new participants to tennis vacation camps [20][22]. - Many tennis vacation organizers struggle to fill camps, often resulting in low participant numbers, which can affect the viability of the business model [24][29]. - The quality of tennis vacation offerings varies widely, with some organizers lacking a genuine focus on enhancing the participant experience [27][28]. Group 4: Future Outlook - The potential for growth in the sportcation market is significant, with expectations for increased demand for tennis-related travel experiences in the coming years [17]. - Other sports, such as yoga and skiing, are also being considered as potential candidates for similar vacation models, indicating a broader trend towards active travel experiences [35][36].

这里是「萌宠寻人启事」第 166 期 。 据不完全统计，中国每年新增上千万只流浪动物。由于缺少稳定环境、充足的食物与水源，它们的寿命一般不超过 3 年。 为了帮助它们更快找到新家， 36 氪发起公益活动「萌宠寻人启事」，每周定期推出待领养流浪动物的信息。 如需传播支援，欢迎流浪动物救助机构 / 救助站 / 送养者邮件联络我们： yanmeixue @36kr.com 。 领养代替购买。领它回家。 封面来源 ｜ Pixabay 这一期 ， 我们为大家带来了 7 只来自北京的 猫咪 。 如果 身在北京的 你对 它 们感兴趣，并且符合基本的领养条件，欢迎添加相关联系人，询问领养事 宜。 本期我们的合作伙伴是 「 流浪拯救计划 」 —— 一个 专注于流浪动物领养的社会项目 。 基本信息： 未 绝育 / 已驱虫 / 已注射一针疫苗 性格特征 ： 温柔的哥哥，极其粘人，会照顾弟弟，和你打招呼喜欢用软糯的声音，不发脾气随便摸。 救助故事： 橘哥哥是小区租客弃养的小猫，和就驾驭一起被遗弃在了社区，刚开始流浪的时候，被人打过两次，被社区流浪狗狗帮追着咬过，只要有人 对它伸出手就会颠颠跑过来蹭你，是个温柔善良的小少年。 领养条件 ...

以下文章来源于差评X.PIN ，作者差评君 差评X.PIN . Debug The World，关注科技、数码、汽车、产经、游戏，传播能改变世界的科技互联网信息。 现在的互联网巨头们，似乎偷偷开发了 一款全网最硬核的通关游戏。 文 ｜ 渡渡鸟武士 编辑 ｜ 莽山烙铁头 面线 来源｜ 差评X.PIN（ID：chaping321） 封面来源 ｜ unsplash 现在的互联网巨头们，似乎偷偷开发了一款全网最硬核的通关游戏 —— 《大家来找人工客服》。 规则很简单，你的订单出了岔子，你只需要在 APP 里面找到一位活的、能解决问题的人，就算通关。 听着不难？ 你真别小瞧这事 ↓ ↓ 即便这事隔三差五就要被各种舆论扫射一番，声量很大。 但魔幻的的是，各大平台仿佛结成了摆烂联盟，你喷任你喷，我改算我输。 各位不要期待能有什么改善，恰恰相反，这种糟糕的体验还在进化。 早些年，客服差是疏忽，现在，把靠谱客服做成 " 隐藏彩蛋 " ，快成大厂必修课了。 不同平台对于客服的设置不同，大体来说， 你需要闯过四道关卡： 所有人噩梦起点，应该都是绕过AI。 AI听不懂人话，却擅长废话，核心功能就一个： 通过毫无意义的车轱辘话，把你拦 ...

以下文章来源于后浪研究所 ，作者张晶 后浪研究所 . 36氪旗下年轻态公众号。这位青年里边请，你被研究了。 有房有车有娃，无性无爱无话。 文 ｜ 张晶 来源｜ 后浪研究所（ID：youth36kr） 封面来源 ｜ 《不够善良的我们》 今年夏天，46岁的苏可结束了她12年的婚姻。 她属于晚婚，34岁才遇见了前夫，3个月就闪婚了。那个时候，她还不太理解婚姻的本质，只觉得30多岁还不结婚的女性，很失败。于是，恨嫁的她随着 婚育大潮，匆匆跳入婚姻的洪流。 12年的婚姻不长也不短，日子平淡如水，有房有车，2021年又有了孩子，过着别人眼中典型的北京中产生活。 但是，平静的生活下面是各种不易察觉的隐形矛盾。 12年的婚姻里，丈夫每月给她几千元的生活费，自从孩子从托班上了幼儿园，学费降了，男人提议生活费减半。苏可用她的收入和生活费负责家庭开支， 但是完全不知道家里的财务状况，她曾多次提及家庭财务，都被前夫警觉地避开了。 婚后自从有了孩子，老人搬来同住，家庭关系一下子变得复杂起来。 一家四口排列组合，任何三人组都有话说，唯独夫妻没话说。她说，他们夫妻从不 吵架，但也从无欢笑。 孩子出生后，他们夫妻开始分房睡，苏可每天需要起夜 ...

以下文章来源于青年志Youthology ，作者oscar 青年志Youthology . 青年的发问与探寻 开户、关户和取不出来的钱。 文 ｜ oscar 编辑 ｜ oi 来源｜ 青年志Youthology（ID：openyouthology001） 封面来源 ｜ unsplash 境外账户开户的英文是account opening，其中opening一词既指"账户开立"，也暗含"开启海外机遇"的意味。过去几年，随着出境旅游、跨境电商、副业结 算、海外理财等需求上升，加上美元等外币存款利率明显高于内地，办境外账户在不少年轻人中一度成了"热门项目"。各家银行的开户预约量持续增加，有 的针对性业务成功率甚至被形容为"比抢热门演唱会门票还难"。 2024年，香港主流银行个人境外账户平均办理时长在一到三周，部分面向中小企业主的商务账户开户成功率只有30%。多数账户仍需要本人亲赴香港，准备 并提交大量证明材料。对没有特殊渠道、也无法频繁往返香港的普通人来说，连续申请两次以上被拒并不罕见。 门槛之下，没有特殊渠道的人开始寻找各种"窄门"：尤其是那些无法频繁往返香港甚至国外的人，调动一切可以动用的资金去凑够门槛，小心翼翼 ...

Core Insights - The article discusses the current state of the AI investment landscape, highlighting a significant trend where successful AI companies are deeply embedded in vertical markets rather than merely serving as horizontal tools [6][9][25] - There is a growing consensus among investors that vertical AI applications offer stronger competitive advantages due to their integration of domain-specific knowledge and proprietary data [9][25] - The article raises concerns about the inflated valuations of AI companies compared to traditional SaaS companies, emphasizing that many AI firms lack sustainable business models and reliable revenue structures [18][19][12] Group 1: Investment Trends - A report titled "The Leonis AI 100" identifies that the most impactful AI startups are those focused on vertical applications, which are less susceptible to competition from foundational models [7][9] - The report indicates that nearly 70% of AI companies are merely adding superficial layers to existing processes, rather than creating transformative solutions [10] - Investors are increasingly wary of speculative behaviors in the AI sector, with many entrepreneurs seeking funding while still employed at major AI firms [11][12] Group 2: Market Dynamics - The influx of capital into the AI market has been driven by favorable conditions such as the Federal Reserve's interest rate cuts and the strong performance of AI companies in the secondary market [12][14] - Many new investors entering the AI space lack the necessary technical expertise, leading to misguided investments in companies with questionable business models [14][21] - The article warns of a potential bubble in AI investments, drawing parallels to historical market bubbles like the tulip mania and Bitcoin debates [11][22] Group 3: Company Valuation and Sustainability - AI companies are experiencing rapid revenue growth, but many operate on low margins, raising questions about their long-term sustainability [17][19] - The article argues that AI companies should not be valued higher than traditional SaaS firms due to their lower profitability and higher replaceability [19][28] - There is a concern that many AI startups are inflating their annual recurring revenue (ARR) figures through misleading accounting practices [19][21] Group 4: Future Outlook - The article predicts that the next wave of AI innovation will come from breakthroughs in planning, tool usage, and multi-agent coordination, which could unlock new market opportunities [30] - Despite the current speculative environment, there is a belief that AI will remain a significant narrative in the long term, with potential for substantial growth in specific verticals [30]

"可变形底盘+模块化作业" 文 ｜ 李小霞 封面来源 ｜ Unsplash 过去5年，全球机器人行业获得了快速发展，围绕人类生活的方方面面，创新的技术与产品极大地改变了世界面貌。一支来自德国 的团队，用航空航天系统的工程方法，在新疆广阔天地打磨出了针对野外环境的大载重、全地形的模块化变形机器人。 36氪独家获悉，聚焦大载重全地形机器人的"觉物科技"已完成超亿元Pre-A轮融资，由日初资本领投，安克创新及部分老股东等 跟投。 本轮融资主要用于机器人技术研发、商业化落地及全球化布局上的加速推进。 "觉物科技"是一家2020年成立于深圳的机器人公司，团队选择新疆的严酷野外环境，用五年时间反复打磨产品与底层技术，以新 疆农业垂直场景的需求为牵引，用模块化架构实现了产品的规模化落地应用：运用机器人的模块组合，可以将一套模块快速重构 为分别针对大田的"鹤出T3000"和针对果园的"骥鹿G3000"两种机器人形态。 数据显示，2024年，全球农业产中服务市场（主要包括耕、种、管、收环节的农业机械化服务，病虫防治相关的植保服务，及其 他综合服务等）规模约为3000亿美元，其中植保环节约为700亿美元。但在这一庞大市场中，传统 ...

Group 1 - Xiaomi clarified that the claim "Xiaomi does not allow selling Xiaomi" is completely false and a distortion of facts [3] - The company stated that their complaints against certain accounts were due to malicious imitation and defamation, not against the normal use of the term "Xiaomi" [3] - Xiaomi's founder Lei Jun confirmed the launch of "quasi-new cars" for sale, which are new cars that have undergone official repairs and inspections [9] Group 2 - The State Administration for Market Regulation issued a draft guideline requiring car sales to be clearly priced, with responses from companies like BYD and Xpeng [6] - The guideline mandates that car sales must include detailed information about optional accessories and delivery timelines [6] - A recent incident in Hubei province involving a procurement project raised concerns about the integrity of the evaluation process, leading to a government investigation [7] Group 3 - JD.com announced plans to invest 22 billion over the next five years to provide 150,000 housing units for its delivery personnel [10] - The company has already provided 28,000 housing units for its frontline employees [10] Group 4 - The release of a new weight loss drug by Eli Lilly showed promising results, with participants losing an average of 23.7% of their body weight over 68 weeks [12] - The drug works by combining three different gut hormones, offering advantages over existing treatments [12] Group 5 - OpenAI released the latest version of its AI model, GPT-5.2, in response to increasing competition in the generative AI field [28] - The rapid updates to the model highlight the competitive pressure within the AI industry [28] Group 6 - Samsung launched its first tri-fold smartphone, the Galaxy Z Trifold, in South Korea, priced at approximately 1.72 million KRW [28] - The device will be available in other markets, including China and the US, at a later date [28]