Core Viewpoint - The fierce competition in the food delivery market is leading companies to invest heavily, potentially reaching a total of 100 billion yuan for the year, despite regulatory pressures against such practices [1][3]. Group 1: Market Dynamics - Companies are investing real money to reclaim market share in a saturated environment, raising questions about the motivations behind these actions [3][12]. - The current situation is likened to a triathlon where competitors unexpectedly revert to the beginning, indicating a possible misjudgment in strategy [5][6]. - The competition is characterized as a zero-sum game, where losses are evident through declining stock prices and lack of synergy among firms [7][8]. Group 2: Regulatory Context - Regulatory bodies have previously intervened to halt aggressive subsidy practices in the market, yet companies are now re-engaging in similar behaviors [3][14]. - There is a contradiction in the actions of companies, as they engage in subsidy wars while also attempting to align with regulatory expectations [13][14]. Group 3: Strategic Insights - The actions of key players, particularly JD.com, are under scrutiny as they pursue multiple initiatives that require significant policy support, such as applying for stablecoin licenses [10][11]. - The competitive landscape suggests that while some companies may feel compelled to engage in price wars, others, like JD.com, may be acting on a different strategic rationale [12][26]. Group 4: Economic Implications - The current investment in subsidies could be interpreted as a response to government calls for stimulating consumption, positioning these actions as beneficial rather than detrimental [30][32]. - The narrative suggests that these subsidies might be viewed as a form of corporate social responsibility, contributing to economic recovery rather than merely fueling competition [30][31].

今天和铁柱聊了一个多小时，他是甘肃人，在墨西哥首都墨西哥城，开了一家中餐厅。请的全是墨西哥本地人，餐厅 一般营业到当地时间晚上九点半，服务员会准点就走人，不会有服务员继续苦干。如果老板要求加班，必须支付3倍 工资。但他们更愿意花时间去喝酒唱歌，而不是加班赚钱。我问，"一点班都不加吗？""你只要让他们加班，直接给你 当面怼回来。甚至辞职。" 在马来西亚雪兰莪州，中国最大的酸菜鱼连锁店"鱼你在一起"，海外负责人军总告诉我，在当地的坪效比国内高出 50% 左右。一份酸菜鱼，在国内买30元人民币，在这边是差不多 30马币（48元人民币），高出60%。堂食生意火爆， 根本不需要开通外卖。当地外卖行业大小平台四五家，都活得不错。 但反观我们国内餐饮业，从外卖平台，到餐饮商家、骑手、消费者，我们这个链条上，每个参与者都很难受。 中国现在外卖的悖论：外卖平台要赚钱要扩张，商家要赚钱要流量，骑手要赚钱要社保，送餐不能太着急等，消费者 要又便宜又好又及时。 这根本不可能！ 我们这个链条上，每个环节都在卡bug，都过得很拧巴。平台、商家、消费者们都已经习惯了低价产品。所以蜜雪冰 城、拼多多、美团等成了最热门的公司和股票。 | 国家 ...