没有商业模式--DeepSeek最坚固的“护城河”

Core Insights - The article discusses the unique business model of DeepSeek, emphasizing its lack of external funding and commercial pressures, which allows it to focus solely on its AGI (Artificial General Intelligence) ambitions [2][10][18] - As the one-year anniversary of the "DeepSeek Moment" approaches, expectations for a new model release are high, but the author cautions against overestimating its impact due to the saturation of the AI market with open-source models [3][4][8] Group 1: Business Model and Funding - DeepSeek's strongest competitive advantage is its unique model of zero external financing, allowing it to operate without the pressures of profitability that other AI companies face [2][10] - The founder, Liang Wenfeng, has chosen to fund DeepSeek through profits from his quantitative fund, Huanfang Quantitative, which generated over $700 million (approximately 5 billion RMB) in profit last year [3][12] - The decision to avoid venture capital funding has allowed DeepSeek to maintain control over its direction and avoid the commercialization pressures that come with external investments [10][13] Group 2: Market Position and Competition - The AI landscape has become crowded with numerous players releasing open-source models, diminishing DeepSeek's previous status as a market leader [4][5][8] - Despite its initial impact, DeepSeek is no longer the most powerful, cheapest, or most open model available, as competitors like Alibaba and OpenAI have quickly followed suit with their own offerings [4][5][8] - The article highlights that the lack of a commercial model is not a flaw but rather a unique characteristic that allows DeepSeek to focus on research and innovation without external pressures [8][10][18] Group 3: Internal Dynamics and Research Culture - DeepSeek's internal structure benefits from the absence of external funding, leading to a flat organization with minimal bureaucratic competition for resources [15][16] - The article argues that having less money can reduce internal conflicts and promote a culture of collaboration and innovation, contrasting with larger labs that may suffer from "big company syndrome" [14][15][16] - The absence of external valuation pressures allows DeepSeek to prioritize research quality over superficial metrics of success, fostering a more genuine pursuit of AGI [18]