以下文章来源于表外表里 ，作者洞见数据研究院 表外表里 . 洞见数据研究院 将投中网设为"星标⭐"，第一时间收获最新推送 在被颠覆的恐惧中开启自救。 作者丨 陈梓洁 编辑丨 曹宾玲 来源丨表外表里 在武汉，几栋不起眼的红色矮楼静卧于汉江湾，国内知名 音乐公司海葵音乐 便是在那里 ，创造出 6亿的年产值。 短短 5年 时 间， 海葵音乐就 从 29名员工 壮大为 500人 的 音乐集团， 投资的音乐工作室超 170家 。 一千公里外的成都，另一位头部玩家阔景音乐，被视为 "凤头"引入音乐 文创园 。 今年前 8个月， 园内 规上企业营收 同比 增长 47.7% ， 是全国 音乐产业增长最快的区域之一。 这两家成功的音乐公司，股权架构里都有一个相同的名字 ——腾讯音乐（TME）。 通过层层投资， TME与大量音乐公司形成联盟，也是"财富共同体"。2025Q3，其营收 增长 20.6% 至 84.6亿元，调整后净利润飙升 27 % ， 实现连续 8个季度的双位数高增长。 而 TME，仅仅是音乐产业蝶变的缩影。 随着短视频崛起、音乐进入市场化时代，行业加速洗牌，在线音乐平台吞下了更多份额，传统唱片公 司也在被颠覆的恐 ...

Core Insights - The article discusses the transformation of the music industry in China, highlighting the rapid growth of companies like Hai Kui Music and Kua Jing Music, which have significantly increased their revenue and employee count in a short period [4][5]. - Tencent Music Entertainment (TME) plays a crucial role in this transformation, forming alliances with numerous music companies and achieving substantial revenue growth [6][8]. - The rise of short videos has reshaped the music landscape, leading to a focus on viral hits and a shift from traditional music production to a more market-driven approach [10][18]. Group 1 - Hai Kui Music has grown from 29 employees to 500 and has generated an annual output value of 600 million yuan [4][5]. - Kua Jing Music is recognized for its significant revenue growth, with a 47.7% increase in the first eight months of the year [5]. - TME's revenue increased by 20.6% to 8.46 billion yuan in Q3 2025, with a 27% rise in adjusted net profit, marking eight consecutive quarters of double-digit growth [6]. Group 2 - The music industry is undergoing a major shift, with online platforms capturing more market share and traditional record companies facing disruption [8][10]. - Short video platforms have become a significant source of revenue for music companies, with viral songs generating substantial profits [10][14]. - The industry is experiencing a crisis as independent musicians and professionals navigate the challenges of a rapidly changing landscape, leading to a mix of opportunities and risks [10][18]. Group 3 - The article highlights the emergence of a new music creation model, where songs are quickly produced and tested for viral potential on short video platforms [12][14]. - There is a growing trend of music companies focusing on creating "emotional hits" that are designed to go viral, often at the expense of artistic integrity [15][18]. - The influx of new music has led to a saturation of the market, with many songs going unheard despite the increase in production [34][39]. Group 4 - The article notes that the average revenue per thousand plays on domestic platforms is around 1 yuan, significantly lower than the 20-50 yuan seen on international platforms [39]. - The competitive landscape has led to a decrease in income for musicians, with many struggling to make a living from their art [40][41]. - The industry is facing a cycle of homogenization and low quality, as companies prioritize quick profits over artistic value [29][43]. Group 5 - Despite the challenges, there is optimism for the future of Chinese music, with some artists continuing to pursue their passion for creating quality music [57][58]. - The article emphasizes the need for a more supportive infrastructure for independent musicians, including better access to management and marketing resources [53][56]. - The evolution of the music industry is ongoing, with both traditional and digital platforms seeking to balance quality content with the demands of a rapidly changing market [50][52].

在国补效应逐渐减弱、传统电商流量见顶的大背景下，京东试图用高频的外卖业务来带动整个平台活跃度。为了这场仗，刘强东亲自下场送外卖、站台卖 酒。 文 | 啸 天 京东集团交出了三季度财报。 数据显示，京东三季度实现营收2991亿元，同比增长14.9%，延续了2024年四季度以来连续四个季度的双位数增长态势。然而，这份亮眼成绩单背后，却 潜藏着巨大的隐忧。 深层焦虑可能来自"国补"政策的退坡。过去一年，"国补"为京东优势的电子产品类提供了强劲的增长动力。但随着政策效应边际递减，京东亟需找到新增 长引擎来填补空缺。 尤其是大举进军的"新业务"板块。新业务板块的营收同比暴涨213.7%至155.92亿元，但经营亏损却达到创纪录的157.36亿元。将时间线拉长至今年前九个 月，京东新业务累计亏损已达318.4亿元。一换算，刘强东每天醒来，就要亏掉1.16亿元。 在国补政策效应逐渐减弱、传统电商流量见顶的大背景下，京东试图用高频的外卖业务来带动整个平台的活跃度。为了这场仗，刘强东不惜亲自下场送外 卖、站台卖酒。 然而，巨额投入目前仍未换来回报。在这场关乎京东未来的押注中，刘强东是否正将这家互联网巨头推向未知的深渊？ 外卖" ...

Project Naming & Marketing - Project naming conventions, including those based on numerology, can impact project success [1] - Leveraging the names of successful projects can boost initial traffic, but may attract irrelevant users [1] - The AI project "buildpad" benefits from traffic misdirected from "buidlpad" due to similar names [1] Buidlpad & MMT Finance - Buidlpad projects have historically provided stable returns [1] - Users staking MMTFinance on Buidlpad can participate in new project launches by joining the team, adding Ⓜ️Ⓜ️T to their ID, tagging the project, and promoting its features [1] MMT Finance DEX - Momentum (MMTFinance) DEX utilizes Sui's Programmable Transaction Blocks (PTB) to combine multi-step operations into atomic transactions, reducing fees and simplifying the user experience [1] - MMTFinance's parallel execution architecture ensures high throughput and transaction speed, mitigating MEV risks [1] - MMTFinance has attracted over 2.1 million users and surpassed $550 million in Total Value Locked (TVL), becoming Sui's deepest liquidity venue [1] - MMTFinance serves as Sui's core liquidity engine, supporting various protocols and becoming the preferred liquidity and distribution partner for projects [1]

Group 1 - The article highlights the phenomenon of internet celebrities, particularly focusing on "Chicken Chop Brother," who gained significant attention during the holiday season, leading to overwhelming crowds and demands for his time [1][2] - There is a growing societal sentiment advocating for the well-being of these internet personalities, reflecting a collective maturity in understanding the pressures they face from sudden fame and public scrutiny [2][3] - The article discusses the transient nature of internet fame, emphasizing that while some individuals like "Noodle Brother" and "Hair Stylist Xiaohua" have adapted to their new realities, the challenge remains for internet celebrities to maintain authenticity and balance amidst the chaos of public attention [2][3] Group 2 - The narrative suggests that all stakeholders, including individuals, onlookers, platforms, and media, must learn to navigate the dynamics of internet traffic, balancing the excitement of viral moments with the need for sustainable engagement [3] - It emphasizes the importance of cultivating long-term stories and values rather than succumbing to the fleeting nature of internet fame, advocating for a grounded approach to personal and professional growth [3]

Market Sentiment & Meme Coins - The market reacted positively to a controversial event involving a $4 meme coin, driven by the belief that "meme有流量就是最大的利好" (meme coins with traffic are the biggest advantage) [1] - A trader bought the coin after seeing the event, setting a breakeven stop loss, indicating a short-term, speculative approach [1] Promotional Activities & User Engagement - UX launched a new activity on BSC, offering gas fee waivers and a chance to win 10,000 USD (1WU) in prize money, aiming to boost user participation [1]

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Group 1 - The article discusses the phenomenon of "celebrity culture" in children's music, highlighting the disparity between genuine talent and the superficial appeal of "big flow" labels like the children's band "Radish and Cabbage" [1] - It emphasizes that the core competitiveness of such bands is not musical skill but rather their popularity, which grants them privileges in performance opportunities [1] - The narrative draws parallels to broader societal issues, suggesting that individuals often face a choice between conforming to established power dynamics or remaining silent on the sidelines [1] Group 2 - The text addresses the concept of "burnout society," where modern individuals experience loneliness and confusion exacerbated by social media, leading to various mental health issues [3] - It posits that these issues stem from an overload of affirmation rather than negativity, resulting in a culture of overproduction and excessive information [3] - The author, Han Byung-chul, critiques the performance-driven society that prioritizes multitasking and user-friendly technology over genuine well-being, contributing to widespread anxiety and discontent [3][4] Group 3 - The article advocates for the reconstruction of the sacred meaning of holidays and festivals, suggesting that such practices can help individuals transcend material existence and find deeper significance in life [5] - It argues that escaping consumer-driven environments is essential for a society that is struggling with illness to regain its sense of purpose [5] Group 4 - The text critiques the notion that a university degree is a guaranteed pathway to success, questioning the fairness of a system that equates wealth and status with social contribution [9] - It highlights the disillusionment with the "American Dream," suggesting that the belief in equal opportunity has led to elite arrogance and resentment among the lower classes [9][10] - The author, Michael Sandel, encourages citizens to reflect on their responsibilities to one another and to consider the value and dignity of all types of work [10] Group 5 - The article discusses the concept of "distinction" as a reflection of social class struggles, revealing how cultural consumption perpetuates social inequalities [13] - It emphasizes that tastes and preferences are not innate but are shaped by social conditions, thus masking the roots of inequality [13] Group 6 - The text introduces the idea of using oneself as a method for reflection, suggesting that understanding one's identity is crucial for personal growth and societal progress [15][16] - It highlights the importance of self-reflection in overcoming personal barriers to development and achieving meaningful change [16] Group 7 - The article presents the concept of "intrinsic motivation," emphasizing its role in driving action and achieving goals in a professional context [19][20] - It suggests that setting abstract and meaningful goals can enhance motivation and lead to more effective outcomes [19][20] - The author, Elliot Fishbach, provides practical tips for harnessing intrinsic motivation to achieve personal and professional objectives [20]

Interview Focus - The interview explores the success of "EnHeng" and questions the factors contributing to it, including skill, luck, and networking [1] - The discussion delves into the authenticity of EnHeng's admiration for figures like CZ, 孙哥 (Sun Ge), and 一姐 (Yi Jie), questioning whether it's genuine respect or simply for gaining popularity [1] - The interview features a deep conversation with Jiayi, a female investor well-versed in the market, aiming to provide insightful perspectives [1] Content Quality & Audience Perception - The content is perceived as high-quality and thoughtfully produced [1] - The interview is seen as potentially beneficial for younger generations, offering valuable educational insights [1] - The overall sentiment suggests a feeling of anxiety and competitiveness within the industry, prompting a need for learning and reflection [1]

Core Points - The article highlights the unexpected rise to fame of Liu Shili, a migrant worker who loves reading, after attending a book sharing event in Beijing, which led to widespread media attention and public interest in his story [1][3][16] - Liu's passion for reading has been a lifelong pursuit, stemming from his childhood experiences and the value placed on education by his family, despite his limited formal schooling [5][7][8] - The narrative explores the impact of sudden fame on Liu's life, including the challenges and opportunities that arise from media attention and public engagements [16][20][21] Group 1 - Liu Shili's journey from a rural teacher to a recognized figure in the reading community began with his visit to a bookstore in Beijing, where he participated in a book sharing event [1][3] - His story resonated with many, leading to over 10 million views on a video platform, and a flurry of media interviews and public speaking invitations [3][4][16] - Despite the positive attention, Liu's life changed significantly, as he found it difficult to return to his previous routine of quiet reading [4][16] Group 2 - Liu's early life was marked by a strong interest in books, which served as a window to the world beyond his rural upbringing, despite his family's financial struggles [5][7][8] - His commitment to self-education led him to become a teacher in his hometown, where he continued to foster his love for reading [8][10] - The article illustrates the tension between Liu's newfound public persona and his wife's concerns about the implications of their sudden visibility and the potential for exploitation [16][20][21] Group 3 - Liu's experiences reflect a broader societal trend of valuing literacy and education, particularly among migrant workers, who often face barriers to accessing resources [1][3][16] - The narrative also touches on the complexities of navigating fame, as Liu grapples with various invitations and opportunities that challenge his understanding of his role in the community [17][20] - Ultimately, Liu's story emphasizes the importance of reading and education as tools for personal growth and social mobility, resonating with many in similar circumstances [1][3][16]