for context: zora is a social network and every single new post is a new tokenobviously quite a different model than what's being compared on other chainsnot trying to dunk, but adding mcap does show the differences/o blockworks for the chart: https://t.co/m6P89g4Dl5 ...

An important kind of social network will be one where no bots whatsoever are allowed. ...

Financial Performance and Key Metrics - In Q1 2025, total revenues were $136 million, down 3% year-over-year and up 1% quarter-over-quarter [7] - Marketing services revenues were $14 million, down 15% year-over-year and 27% quarter-over-quarter [7] - Online game revenues were $117 million, flat year-over-year and up 7% quarter-over-quarter [7] - GAAP net income was $182 million compared to a net loss of $25 million in Q1 2024 [8] - Non-GAAP net loss was $16 million compared to a net loss of $22 million in Q1 2024 [8] Business Line Performance - Sohu Media platform revenues were $70 million, compared to $20 million in the same quarter last year, with an operating loss of $70 million [19] - Changyou's quarterly revenues were $180 million, down from $190 million in the same quarter last year, with an operating profit of $55 million [19] Market Data and Key Metrics - For Q2 2025, marketing services revenues are expected to be between $60 million and $70 million, implying a year-over-year decrease of 14% to 19% [20] - Online game revenues are expected to be between $96 million and $106 million, implying a year-over-year decrease of 28% to 35% [20] Company Strategy and Industry Competition - The company is focusing on enhancing its social media platform and leveraging unique IPs for monetization opportunities [6] - The online gaming business is adopting a top game strategy, diversifying its portfolio with various game types, and expanding into global markets [15][16] Management's Comments on Operating Environment and Future Outlook - Management noted that the advertising sentiment is mixed, with the auto sector performing better while luxury goods and alcohol spending is declining [24] - The company expects a similar trend in advertising for the second half of the year, with a focus on accelerating growth through its social network platform [25] - AI is seen as beneficial for the gaming business, improving efficiency in art design and production [29] Other Important Information - The company reversed a tax expense previously recognized, amounting to approximately $199 million, which was an accounting treatment issue rather than a cash flow event [8][42] Q&A Session Summary Question: Recent trend in advertising sentiment and outlook for the second half - Management indicated that the auto sector is performing better, while luxury goods and alcohol spending is declining, with expectations for a similar trend in the second half [24][25] Question: Impact of AI on advertising and online games - Management stated that AI has a marginal impact on the media platform but is beneficial for gaming, improving efficiency in various production aspects [26][29] Question: Details on the tax reversal - The tax reversal was an accounting issue related to uncertainty that has now been resolved, with no actual cash flow involved [42][45] Question: ADR delisting risk and alternative plans - Management noted that the situation is speculative and that they would consider alternatives if necessary, but currently, there are no immediate plans [48][52]

近期的传闻和动作颇具代表性，在大洋彼岸，手握ChatGPT和Sora等王牌的OpenAI，据称正内部测试类X的社交功能，其CEO Sam Altman甚至在私下 征求反馈；而在国内，凭借长文 本能力声名鹊起的Kimi，也被曝出正在小范围灰度测试自己的内容社区。 以下文章来源于硅星GenAI ，作者周一笑 硅星GenAI . 比一部分人更先进入GenAI。 作 者 | 周一笑 来源 | 硅星GenAI 导语 ：你刷的朋友圈，其实是他们养模型的牧场。 AI圈最近弥漫着一股微妙的气息。人们似乎不再热议大语言模型的最新突破、以及AI应用的无限可能时，一些代表着未来的AI巨头，却似乎正将目光 投向互联网那熟悉得不能再熟悉的角落——社交网络与社区。 就在这些AI新贵们探索社交可能性的同时，国内的社交巨头已经抢先一步，用一种更"润物细无声"的方式将AI融入了核心场景。 腾讯旗下AI助手"元宝"已正式入驻微信，不是以小程序或公众号，而是以一个可以添加的"联系人"身份，出现在用户的聊天列表中。这种深度整合， 几乎零成本地将AI能力嵌入了数亿用户的日常。 这种转向，无论是AI公司自建社区，还是社交平台整合AI，自然引发了诸多讨论 ...