Core Viewpoint - The article discusses the phenomenon of "traffic backlash" experienced by companies like Xiaomi, highlighting the relationship between user base growth, product reputation, and the challenges of scaling business in a digital environment [1][5][24]. Group 1: Traffic and Reputation - The increase in user base directly affects product reputation, creating a formula where product reputation safety coefficient = project time / user base, indicating that a larger coefficient means greater safety [4]. - Companies that focus solely on traffic without considering reputation often face backlash, as seen in the cases of Xiaomi, Alibaba, and others [5][12]. - The article emphasizes that a mature company should separate public relations and marketing functions to ensure that reputation management is not compromised for the sake of traffic [10][14]. Group 2: Understanding Backlash - Backlash is not an inevitable outcome of pursuing traffic; it can be mitigated by focusing on product quality rather than relying on individual personalities or trends [15][20]. - Successful companies like those in Silicon Valley manage to avoid backlash by aligning traffic with product performance, demonstrating that genuine product value is key [17][18]. - The article suggests that backlash can be seen as a form of validation, indicating that a company has reached a level of success where backlash is possible [24][26]. Group 3: Strategies to Mitigate Backlash - Companies should maintain open communication with users, competitors, and media to manage public perception and avoid triggering regulatory scrutiny [30][31]. - A proactive approach to criticism, including listening and adapting, is essential for companies to navigate backlash effectively [32]. - The article concludes that true strength lies in a company's ability to remain unaffected by rumors and maintain a focus on product integrity [33].

Core Insights - The article discusses advancements in autonomous driving technology, particularly focusing on Tesla's use of similar techniques as VLA in their V14 model, highlighting the importance of spatial understanding and multitasking capabilities [1][2] - Ashok Elluswamy, Tesla's AI software VP, emphasized the integration of various data sources in Tesla's Full Self-Driving (FSD) system during a workshop at ICCV 2025, indicating a significant upgrade in their autonomous driving capabilities [1][2] Group 1: Tesla's Technological Advancements - Tesla's V14 model utilizes technology akin to VLA, showcasing enhanced spatial comprehension and multitasking abilities, which are critical for long-duration tasks [1] - Elluswamy's presentation at ICCV 2025 highlighted the FSD system's reliance on a comprehensive network that incorporates camera data, LBS positioning, and audio inputs, culminating in action execution [1][2] Group 2: ICCV 2025 Workshop Details - The ICCV 2025 workshop focused on distilling foundation models for autonomous driving, aiming to improve the deployment of large models like vision-language models and generative AI in vehicles [3] - Key topics included foundational models for robotics, knowledge distillation, and multimodal fusion, indicating a broad exploration of AI applications in autonomous driving [6][7]

Group 1: Government Shutdown Impact - The U.S. Senate failed to pass a government funding bill, resulting in the continuation of the government shutdown that began on October 1 [1][2] - The funding bill aimed to extend government funding until November 21 but did not meet the required 60 votes, receiving only 50 in favor [2] - The shutdown has led to the National Nuclear Security Administration (NNSA) initiating forced unpaid leave for approximately 1,400 employees, marking the first such occurrence since the agency's establishment in 2000 [4][5] Group 2: Economic Data and Federal Reserve - The government shutdown has caused a "data vacuum," complicating the Federal Reserve's ability to assess economic conditions, particularly regarding inflation and employment risks [6][7] - Financial markets expect the Federal Reserve to lower the benchmark interest rate by 25 basis points to a range of 3.75%–4.00% during the upcoming policy meeting [7] - The average monthly non-farm employment growth from June to August was only 29,000, significantly below pre-pandemic levels, raising concerns about the labor market's true state [7][8] Group 3: Stock Market Performance - U.S. stock markets experienced significant gains, with major indices rising over 1%, driven by optimism from quarterly earnings reports and improved risk appetite [3][10] - Apple Inc. saw its stock price reach a record high of $262.24, with a market capitalization of $3.89 trillion, surpassing Microsoft to become the second-largest company by market value in the U.S. [13][15] - The iPhone 17 series has shown strong early sales, outperforming the iPhone 16 series by 14%, indicating a positive trend for Apple's future sales [15]

Market Overview - Major indices in China opened higher, with the Shanghai Composite Index up 0.18%, Shenzhen Component Index up 0.52%, and ChiNext Index up 0.81, led by gains in precious metals and deep earth economy sectors [1] - In the external market, major US indices rose over 1%, with the Dow Jones up 1.12% to 46,706.58 points, S&P 500 up 1.07% to 6,735.13 points, and Nasdaq up 1.37% to 22,990.54 points [3] - Chinese concept stocks also saw collective gains, with the Nasdaq China Golden Dragon Index rising 2.39% [3] Industry Insights - CITIC Securities highlighted the rapid advancement of solid-state battery technology, noting a breakthrough that addresses the solid-solid interface contact issue, which has been a major bottleneck for mass production [4] - The collaboration between Changsheng Technology and Boyuan Co. aims to enhance the supply chain and accelerate the commercialization of sulfide solid-state batteries [4] - Huatai Securities emphasized that internet platform companies are actively seeking commercialization opportunities in their advantageous scenarios, particularly in basic cloud service providers and advertising sectors [5] - CITIC Securities recommended focusing on "small but beautiful" companies in the textile and apparel manufacturing sector, which are showing positive operational changes and potential for valuation re-evaluation [6] - China Galaxy Securities noted a market style shift leading to a recovery in the food and beverage index, with a focus on new consumption trends and companies with solid fundamentals [8]

Group 1: Market Performance - The three major U.S. stock indices rose over 1%, with the Dow Jones up 1.12% to 46,706.58 points, the S&P 500 up 1.07% to 6,735.13 points, and the Nasdaq up 1.37% to 22,990.54 points, driven by easing trade tensions and a significant increase in Apple’s stock price [1] - European blue-chip stocks also saw gains, with a 1.3% rise to a record closing high, led by Infineon and German defense stock RHM, which both increased over 5% [1] - Major technology stocks generally rose, with Apple increasing by 3.94%, while Nvidia saw a slight decline of 0.32% [1] Group 2: Gold Market Dynamics - The proportion of gold in global central bank reserves has surpassed 30%, while the dollar's share has decreased to 40%, indicating a historic shift in reserve asset allocation [2] - Deutsche Bank estimates that if gold prices exceed $5,790 per ounce, gold and the dollar will each account for 36% of global reserves, marking a significant milestone [2] - A recent survey by the World Gold Council revealed that 43% of central banks plan to increase their gold holdings, up from 29% the previous year, suggesting a strong long-term support for gold prices [2]

美东时间周一，随着贸易形势缓和，加上苹果股价大涨的助攻，三大指数均涨超1%，重回历史高位附近。截至收盘，道琼斯指数涨1.12%，报46,706.58 点；标普500指数涨1.07%，报6,735.13点；纳斯达克指数涨1.37%，报22,990.54点。 欧元区蓝筹股指涨1.3%，创收盘历史新高，英飞凌和德国军工股RHM涨超5%领跑。意大利银行板块收涨超2%，德国股指涨1.8%，法国股指逼近历史最高 位。 《 全球储备资产大变局：央行"买买买"，若黄金突破5790美元，将超越美元地位 》华尔街见闻 大型科技股普遍上涨，英伟达跌0.32%，微软涨0.63%，苹果涨3.94%，谷歌涨1.28%，亚马逊涨1.61%，Meta涨2.13%，特斯拉涨1.85%。 热门中概股集体上涨， 纳斯达克中国金龙指数涨2.39% ，阿里巴巴涨3.84%，京东涨2.09%，拼多多涨2.40%，蔚来涨4.59%，小鹏汽车涨1.23%，理想汽车 涨0.09%，哔哩哔哩涨1.85%，百度涨1.76%，网易涨3.13%，腾讯音乐涨1.70%，小马智行涨1.76%。 现货黄金在尾盘加速上涨，日内涨幅一度扩大至3.0%，COMEX黄金期货涨幅更 ...

01 大会信息 大会时间： 2025年12月3-5日 大会地点： 中国 · 深圳国际会展中心（深圳市宝安区福海街道展城路1号） 大会主题： 融合 · 创新 | 传递多一点 特色活动： 热管理展（350+展商，20000 m 2 展区） 详细信息点击查看~ iTherM（i nsight T hermal M anagement ）洞见热管理 ，定位于热管理产业链一站式、高效率价值服 务平台。 在新质生产力发展背景下， 2 02 5第六届热管理产业大会暨博览会（ iTherM 2025）将 紧密依 托电子信息、新材料、新能源、 半导体、 数字经济、 汽车、 智慧网联 、低空经济、 绿色低碳等 诸多 产业集群，以热管理价值优势 及应用 场景 为导向， 洞见 和把握 热管理行业政策、科学、材料、技术、 标准和工程等前沿动态与发展趋势 。 iTherM 2025将 吸收顶尖研究机构和公司的行业远见 ， 内容涵盖热管理 行业 的科学前沿、功能材料、技 术应用和工程方案等多个领域， 诚挚 邀请国内外知名学者、技术专家、领军企业高管、 政府园区、 科研 院所和投资机构 等嘉宾走上大会舞台， 共同探讨热管理产业新动态、新技术 ...

"低碳转型、重视ESG能力建设是大势所趋，未来十年二十年关系到车企的生死存亡，"中国会计学会 副会长、厦门国家会计学院教授黄世忠对虎嗅表示。在电动化之外，车企如何构建ESG能力，如何提 升碳足迹核算和披露水平，正逐步影响它们在全球资本、监管、市场层面的"通关能力"。 那么，中国主流车企在ESG治理上到底处于什么水平？哪些品牌开始"做得像样"，又有哪些还停留在 口号与营销噱头？ 环境维度： 头部新势力领跑，传统车企治理 出品｜虎嗅ESG组 作者｜陈玉立 头图｜AI生成 本文是 #ESG进步观察 #系列第151篇文章 本次观察关键词：车企ESG 今年上半年，Wind 数据显示A 股新能源汽车整车行业在 ESG 信息披露方面的活跃度显著提升：16 家上市公司中已有 14 家发布了 ESG 或可持续发展报告，披露率高达 87.5%。 具体到企业，小鹏汽车于上半年完成四款在售车型的全价值链碳核算，在新势力车企中率先公开披露 范围三碳排放分类明细数据；吉利也在最新发布的ESG报告中披露"单车全生命周期碳排放下降 18%"。一系列动作背后，是汽车企业在电动化浪潮中对 ESG 能力的重新审视——在"卷性能""卷智 驾"之后， ...

北京时间2025年10月20日 03:28（对应莫斯科时间2025年10月19日 22:28）理想辅助驾驶产品经理陈 两把微博发文： 开车能够快速搭建对一座城市的认知框架，建筑风格，人群分布。 跑步可以细细观察这一座城市的每个角落，处处皆景，步步开心。 最近跑步慢慢往上加了些量，能跑10km了。 也有点喜欢上跑步了，好像懂了些喜欢跑半马全马朋友们的快乐，通过跑步慢慢感受一座城市、生活 的美好。 卷起来@大懒货 @小马师傅 Ps 通过开车了解城市的时候一定要有辅助驾驶 其IP地址在俄罗斯，该微博图1是一白衣灰裤男子在莫斯科红场南端的瓦西里教堂面前的侧面照，图2 图5是陈两把正面照且同样白衣灰裤。 合情推理，此时陈两把在莫斯科。 北京时间2025年10月20日18:32（对应莫斯科时间2025年10月20日13:32）陈两把发一个微博图文。 2025年10月14日陈两把微博表示： 陈两把 过了》 25-10-20 18:32 来自 无人使用的iPhone 16 Pro Max 发布于 俄罗斯 又是阴雨绵绵的一天，太冷了~✪ 不过更冷的是最近有两束白月光结婚了✪ 照着这速度下去，光快全没了，得冻死人啊☺ 心灰意冷比 ...

Core Insights - The automatic driving industry is experiencing a battle for narrative control over next-generation technologies, with companies like Li Auto and XPeng betting on VLA (Visual Language Action) as the future architecture, while Huawei criticizes it as a shortcut and promotes its own WA (World Behavior Architecture) [1][2][3] - The rapid emergence of jargon in the industry reflects the struggle for technological branding, as hardware becomes increasingly homogeneous and intelligent driving capabilities become the key differentiator [1][2][3] Group 1: Evolution of Terminology - Before 2022, the automatic driving industry's technical evolution was primarily defined by Tesla and Waymo, with terms being objective descriptions of specific functions [3] - Tesla's AI Day events in 2021 and 2022 significantly influenced the industry, introducing the BEV+Transformer architecture, which improved perception capabilities by integrating multiple camera inputs into a unified 3D view [3][4] - The transition to an "end-to-end" paradigm began in 2022, breaking down the barriers between perception and planning, with Tesla's FSD Beta V12 showcasing a large neural network that processes both simultaneously [5][6] Group 2: Technological Developments - Chinese automakers quickly adopted Tesla's advancements, with companies like XPeng and NIO implementing their own versions of the BEV+Transformer architecture for mass production [4][6] - The industry is moving towards a more integrated approach, with XPeng and Huawei adopting multi-stage end-to-end systems, while NIO is restructuring to focus on end-to-end development [7][8] - The introduction of VLA and world models into the automatic driving sector reflects a shift towards more sophisticated AI models that can understand and respond to complex driving scenarios [9][10][13] Group 3: Competitive Landscape - The competition in computing power is intensifying, with XPeng and Li Auto investing heavily in both vehicle and cloud computing capabilities, aiming to develop larger parameter models for their systems [11][12][36] - The VLA model, initially developed for robotics, is being adapted for automatic driving, with companies like Yuanrong Qixing leading the charge in applying this technology [10][31] - NIO and Huawei are taking a more aggressive approach by deploying world models directly in vehicles for real-time control, although the technology is still in the experimental stage [14][15] Group 4: Future Directions - The evolution of automatic driving terminology indicates a broader exploration of technology, with each new term representing a step in the industry's journey [16] - The ultimate success in the automatic driving sector may hinge on the ability to translate technological promises into tangible user experiences, rather than merely introducing new concepts [16]