那个NG . 以下文章来源于那个NG ，作者渣渣郡 用关注决定视界｜复杂世界的策展人 出品 | 虎嗅青年文化组 作者 | 渣渣郡 本文首发于虎嗅年轻内容公众号"那個NG"（ID：huxiu4youth）。在这里，我们呈现当下年轻人的面 貌、故事和态度。 "日本美术刀剑收藏是一个充满朝气的夕阳行业。" 这是あやかし堂 - 株式会社妖府制作所社长@成实对日本美术刀剑行业的看法。 作为一位从2001年赴日生活的中国刀剑爱好者，他用19年时间把爱好变成了事业。在扎进了有着千 年历史 （10世纪日本的《延喜式》第34卷内容对太刀的所需材料、规格和使用等级作出了规定） 的 日本刀剑行业之后，他站稳了脚跟。 不但在东京建立了自己的实体店，还在今年夏天，上了北野武的朋友所乔治主持的节目《所さんお届 けモノです！》。 而在中国，妖府制作所凭借硬核的刀剑鉴赏知识和有趣的刀商故事，在抖音上收获了5.9万粉丝。在 每个精心制作的作品结尾，都有日本唯一华人刀剑实体店的文案，被关注日本美术刀剑的爱好者视为 百科书式的存在。 在妖府刀剑稳定发展的同一时期，日本美术刀剑市场也正在稳步扩张。多篇报告指出，随着《鬼灭之 刃》、《幕府将军》、《对 ...

以下文章来源于地球知识局 ，作者地球知识局 地球知识局 . 人文+地理+设计，全球视野新三观。 合作请联系：xiaobaibai_9999（注明品牌和需求） 本文来自微信公众号： 地球知识局 ，作者：地球知识局，原文标题：《土耳其，突然对中国免签了！》 免签适用于旅游和过境目的，在每180天内，免签停留时间累计不超过90天。 原本土耳其对我国是电子签，虽说几乎交钱秒出，但如今实行免签，实打实地省下了将近500块。 最近几年，土耳其一直是中国人出境游的热门目的地。这里不仅拥有众多文化遗产，海景更是一绝。 现在在土耳其的最大城市伊斯坦布尔，街头巷尾都能听见中文。甚至在许多景点，如卡帕多西亚、伊斯坦布尔考 古博物馆里，有些时段能看到中国人占所有游客过半的比例。 土耳其，要被中国人"挤爆"了！ 中国游客，将越来越多 从伊斯坦布尔的街头和爱琴海沿岸来看，中国人确实很多。 土耳其文化和旅游部发布的数据显示，在2024年前五个月，造访土耳其的中国旅客就已经超过了15万人次，同比 增长125%，增长非常迅猛。 中国人对于出国旅游的需求是庞大的，根据中国旅游研究院近两年发布的《中国出境旅游发展年度报告》，2023 年中国人出境 ...

Core Viewpoint - The article discusses the recent failures of China's new rockets, Zhuque-3 and Chang Zheng-12A, in achieving successful recovery, yet highlights a paradoxical surge in the aerospace sector, particularly in commercial space stocks, indicating a rational revaluation of value under new rules and clear expectations [5][6][7]. Group 1: Market Dynamics - Despite the failures of rocket recovery, the aerospace sector, especially commercial space stocks, experienced significant price increases, with some stocks doubling in a matter of days [6]. - The market is not irrationally reacting; rather, it is undergoing a rational revaluation based on a new understanding of "engineering iteration certainty" [7][10]. - The introduction of commercial space and private capital has shifted the traditional failure-averse culture to a "rapid trial and error" approach, allowing for faster technological iterations [12]. Group 2: Supply Chain Implications - The focus should shift from the success or failure of rocket recovery to the thousands of components that make up a rocket, revealing a broader picture of the industry's supply chain [17]. - The reusable rocket technology leads to increased demand for high-end manufacturing components, creating a "continuous consumption demand" for the aerospace supply chain [20]. - The dual validation from both state-owned and private companies pursuing similar technological goals provides a "technical path insurance" for supply chain enterprises [21]. Group 3: IPO and Market Opportunities - The release of guidelines by the Shanghai Stock Exchange for commercial rocket companies to list on the Sci-Tech Innovation Board has created a clear path for capital market participation [24][25]. - The new listing criteria focus on successful payload delivery to orbit rather than recovery, encouraging investment in companies that demonstrate strong launch capabilities [26]. - The market is actively seeking and trading stocks related to leading commercial space companies, indicating a preemptive investment strategy in the emerging aerospace ecosystem [28]. Group 4: Data Utilization and Industry Growth - The commercial space sector has made failure data transparent and marketable, turning each failed attempt into a valuable resource for industry learning and advancement [30]. - The accumulation of failure data is seen as a unique advantage for China's commercial space industry, allowing for rapid engineering experience accumulation [31]. - The current enthusiasm in the market reflects a collective bet on the potential for significant cost reductions in space access, driven by China's robust industrial capabilities [36].

Core Viewpoint - The restaurant industry faced unprecedented challenges in 2025, with significant pressure on operators due to rising costs, declining customer traffic, and a sharp drop in profits, leading to a survival struggle for many entrepreneurs [4][5]. Group 1: Consumer Behavior Changes - Consumer behavior has fundamentally changed, with increased price sensitivity and a heightened demand for quality and experience, forcing restaurants to optimize their "value-for-money" proposition [5]. - The controversy surrounding pre-prepared meals has intensified industry differentiation, impacting cost structures, service models, and consumer trust [5]. Group 2: Successful Business Models - Brands that successfully navigate the challenges have adopted new operational models, focusing on either extreme cost-effectiveness or unique customer experiences [7]. - For example, "南城香" has implemented a model of "fresh stir-fry + self-service weighing," offering competitive pricing with a focus on quality [8]. - The brand "椿芽·鲜牛肉杭州拌川" has differentiated itself through fresh preparation and a unique aesthetic, achieving significant market presence [8]. Group 3: Regional Cuisine and Consumer Preferences - Regional cuisines, such as Jiangxi cuisine, have gained popularity, with a notable increase in the number of related establishments and consumer preference for authentic local flavors [9]. - Data indicates that the importance of "regional characteristics" in restaurant selection has risen from 18% in 2024 to 29% in 2025, reflecting a shift towards unique and authentic dining experiences [9]. Group 4: Social Media and Brand Engagement - Building genuine brand engagement through social media has become crucial, with brands leveraging authenticity and transparency to connect with consumers [10]. - For instance, the founder of Big Pizza has cultivated a personal brand that resonates with consumers by sharing real experiences and addressing operational issues openly [10]. Group 5: Operational Adjustments - Smaller store formats have emerged as a strategy to reduce costs and adapt to the dual demands of dine-in and delivery services [12]. - Brands like "麻小六" and "小菜园" have successfully reduced store sizes and simplified their offerings to enhance operational efficiency and profitability [12]. Group 6: Strategic Recommendations for 2026 - Moving into 2026, the industry must shift focus from merely expanding store numbers to creating unique value for customers and ensuring brand memorability [14]. - Operators are advised to optimize their menu, enhance space efficiency, prioritize delivery channels without becoming overly reliant on platforms, and maintain product quality [14][15]. - Emphasizing team cohesion and employee well-being is critical for navigating challenging times, as a strong team can significantly impact business resilience [15].

Group 1 - The core viewpoint of the article highlights a significant demographic shift in China, with a predicted decline in newborns to around 8.71 million by 2025, dropping below 7% of the global total births [4][7] - The number of high school graduates is expected to reach a historical high of 13.35 million in 2025, while college graduates will also peak at 12.22 million, indicating a mismatch between the declining birth rate and the increasing number of graduates [8][19] - The article discusses the reasons behind the declining birth rate, attributing it to high living costs, particularly housing and education, as well as changing societal values among younger generations [13][15][17] Group 2 - The article notes that the expansion of higher education has led to a situation where many graduates are forced to take jobs that do not require a college degree, resulting in a phenomenon of "high education, low employment" [21][22] - There is a growing mismatch between the skills taught in universities and the actual demands of the job market, particularly in emerging fields like AI and renewable energy [22][23] - The rise of AI is expected to impact over 75% of jobs in the next two decades, particularly affecting roles that involve repetitive tasks, while also creating new job opportunities that did not exist before [25][27] Group 3 - The article emphasizes the need for individuals to adapt to the changing job landscape by focusing on continuous learning and developing skills that AI cannot easily replicate, such as critical thinking and interpersonal communication [28][30] - It suggests that the future career paths may involve a combination of primary and secondary jobs, requiring individuals to be versatile and capable of quickly learning new skills [33][34] - The overall sentiment reflects a shift towards a more stable and balanced approach to life, where personal fulfillment and adaptability are prioritized over traditional measures of success [36][37]

Core Insights - The article discusses the significant changes in Meta's AI strategy and organizational structure, particularly highlighting the rise of Chinese talent in leadership positions within the company [5][8][30]. Group 1: Organizational Changes - Meta's AI strategy has undergone a major transformation, with multiple reorganizations throughout the year, including the acquisition of a 49% stake in Scale AI for approximately $14 billion [11]. - The new AI structure at Meta has established the Meta Super Intelligence Lab (MSL) as the core, with Alexandr Wang as the Chief AI Officer, overseeing various departments including TBD, which focuses on developing large language models [15][16]. - The departure of Yang Likun, the former Chief Scientist, marks a significant shift in leadership, as he was a long-time figure in Meta's AI landscape [17][22]. Group 2: Talent Acquisition - Meta has aggressively recruited over 50 AI researchers and engineers from competitors like OpenAI, Google, and Apple, with a notable proportion being of Chinese descent [18][19]. - The company has reportedly offered salaries exceeding $100 million, with specific cases like Ruoming Pang, who was offered up to $200 million [18][19]. - Shengjia Zhao, a prominent figure in Meta's AI structure, has quickly risen to a high-ranking position, reflecting the company's focus on retaining top talent [20][21]. Group 3: Acquisition of Manus - The acquisition of Manus, an AI agent company, is seen as a strategic move for Meta, allowing the startup to operate within Meta's ecosystem while maintaining its agility [26][29]. - The founder of Manus, Xiao Hong, is transitioning from an entrepreneur to a high-level executive at Meta, indicating a shift in his professional identity [27][30]. - The integration of Manus into Meta's AI operations is expected to enhance the company's capabilities in the competitive AI agent market [29].

以下文章来源于那个NG ，作者渣渣郡 那个NG . 用关注决定视界｜复杂世界的策展人 出品 | 虎嗅青年文化组 作者 | 渣渣郡 本文首发于虎嗅年轻内容公众号"那個NG"（ID：huxiu4youth）。在这里，我们呈现当下年轻人的面貌、故事 和态度。 "我很苦恼 我的随笔竟只成了女士们的普通摆设 一本放在客厅窗边的书……" 1580年，米歇尔·德·蒙田《论维吉尔的某些诗句》 过去，书是用来看的，现在书也是用来看的。 虽然看起来一样，但如果你留意全球各大媒体的年终购物推荐，就能明白看与看的区别。 从GQ到华尔街日报和金融时报，新年将至，纷纷发布了自己的装饰性书籍推荐榜单，这个信号意味着，越来越 多的人开始把漂亮的书籍当作通用的礼物，地位就像是前一个时期的香薰蜡烛。 同时，这个现象也意味着，书正在成为2025年最被忽略的流行装饰风格。 根据Etsy趋势专家Dayna Isom Johnsonge在今年8月给出的数据，5月到8月期间，Etsy上"爱书人装饰风格- book lover decor"相关搜索量同比暴涨19616%。 支撑这个狂野数字的，是Tiktok上名为的 #书架财富 -Bookshelf Wea ...

Core Viewpoint - The number of wealthy families in China is quietly decreasing, with a significant portion experiencing wealth shrinkage and some falling out of their original social class [4]. Group 1: Wealth Decline - The number of families with assets exceeding 6 million yuan has declined for two consecutive years, and about 30% of wealthy families have experienced varying degrees of wealth shrinkage [4]. - A case study of a 35-year-old individual named Zhenzhen illustrates the impact of wealth decline, as her family, once worth over 1 billion yuan, has faced significant financial challenges, leading her to sell luxury items to support family business operations [4][12]. Group 2: Lifestyle Changes - Zhenzhen's lifestyle has drastically changed from frequenting Michelin-starred restaurants to carefully budgeting for meals, reflecting the broader trend among wealthy families adjusting to financial constraints [5]. - The family's living conditions have deteriorated, moving from a large home to a small rented apartment, and the number of household staff has been reduced due to financial inability [17][30]. Group 3: Asset Liquidation - Zhenzhen has sold various luxury items, including a Hermès bag purchased for 400,000 yuan, which she sold for 500,000 yuan to cover business expenses, highlighting the struggle to maintain financial stability through asset liquidation [31]. - Over the years, she has managed to recover approximately 4 to 5 million yuan through the sale of luxury goods, but this has not alleviated the family's financial pressures [34]. Group 4: New Beginnings - Zhenzhen now operates a small coffee shop in Macau, working long hours and finding a sense of stability and fulfillment in her new role, despite the challenges faced [45][49]. - The experience of financial loss has led to a shift in Zhenzhen's understanding of wealth, emphasizing the importance of earning capacity over material possessions [41][52].

Core Viewpoint - Hema is undergoing significant strategic adjustments, focusing on expanding its store formats and improving profitability, with a strong emphasis on community-oriented discount stores and a streamlined product development approach [4][6][8]. Group 1: Store Expansion - Hema has entered 40 new cities in the past year, with over 200 new stores of the discount format "Super Box Calculation NB" [4]. - The total number of Hema stores is approximately 900, with around 500 Hema Fresh stores and 400 Super Box Calculation NB stores [5]. - Hema Fresh's store growth rate is about 19%, while Super Box Calculation NB's growth rate is approximately 87% [5]. Group 2: Revenue and Profitability - Hema's overall revenue growth exceeded 40% in 2025, with over 100 million consumers served [6]. - The projected GMV for Hema by the end of the fiscal year 2026 is expected to surpass 100 billion yuan [6]. - Hema achieved profitability for the first time in the 2025 fiscal year, indicating a strong likelihood of continued profitability in 2026 [6]. Group 3: Product Development Strategy - In 2025, 80% of Hema's new product development focused on core consumer needs, marking a shift towards a more pragmatic and targeted approach [6]. - The company is simplifying processes and breaking down organizational barriers to enhance operational efficiency [7]. Group 4: Competitive Landscape - The offline retail market is becoming increasingly competitive, particularly in the discount store segment, with other brands like Yonghui and Jiajiayue also expanding [8]. - Hema's growth is closely linked to the ongoing battle in online instant retail, where it plays a crucial role as a supply hub [8].

Core Viewpoint - The political instability in Brazil, characterized by a cycle of leaders facing legal issues, directly impacts the capital market, leading to significant volatility and uncertainty for investors [2][3]. Group 1: Market Reactions and ETF Dynamics - On December 5, the Brazilian stock market experienced a sharp decline of 4.3%, with ETFs following suit, triggered by political developments [3]. - Despite the risks, Brazilian ETFs saw a massive influx of investment, with subscription funds reaching seven times the target, indicating a strong interest from mature investors [4][10]. - The initial performance of Brazilian ETFs was marked by a high opening followed by a significant drop, raising questions about investor motivations and the potential for future volatility [5][6]. Group 2: Historical Context and Performance - The IBOVESPA index, which the Brazilian ETFs track, has shown a remarkable increase of 25.08% this year, recently surpassing 150,000 points for the first time [23]. - Historically, the IBOVESPA index has increased by 1,533 times over 60 years, but much of this growth is attributed to monetary expansion rather than sustainable economic performance [24][26]. - The index's annualized return over the past decade is approximately 9%, but real returns are significantly lower when accounting for currency depreciation [26]. Group 3: Economic Factors and Future Outlook - Brazil's economic environment is characterized by high interest rates, stable currency, and declining fiscal deficits, making it attractive for foreign investment [30][31]. - The current price-to-earnings ratio of the IBOVESPA index is 8.73, indicating potential for valuation increases as earnings grow [32]. - The Brazilian economy's reliance on resource exports and its structural issues pose risks, particularly in a high-interest environment that discourages retail investor participation [34][35]. Group 4: Investment Considerations - The appeal of Brazilian ETFs lies in their scarcity and the regulatory environment, which allows for T+0 trading, attracting short-term traders [12][13]. - Investors are advised to be cautious, as the dynamics of foreign ETFs can lead to significant price fluctuations driven by market sentiment rather than fundamentals [19][21]. - The long-term viability of Brazilian ETFs will depend on the performance of the underlying IBOVESPA index and the broader economic conditions in Brazil [21][37].