Accessible version The Flow Show The Bros, the Base & the Billionaires Scores on the Doors: gold 27.7%, stocks 6.7%, govt bonds 6.1%, IG 5.8%, HY bonds 5.0%, cash 1.8%, commodities -1.7%, US dollar -8.9%, crypto -10.0%, oil -12.4% YTD. "Bro Billionaire" stocks*vs the Base stocks (Russell 2000, RHS) Source: BofA Global Investment Strategy, Bloomberg Trump election +45% since election -7% 1700 1900 2100 2300 2500 2700 2900 3100 3300 5000 6000 7000 8000 9000 10000 11000 12000 13000 Jun'24 Aug'24 Oct'24 Dec'24 ...

Core Viewpoint - Reddit, Inc. is under investigation for potential violations of federal securities laws, primarily related to misleading statements about the impact of Google's AI on its user growth [1][2]. Company Overview - Reddit operates a social news aggregation and forum platform, receiving significant user traffic from Google Search [2]. - The company previously assured investors that Google's AI did not materially affect its user growth [2]. Impact of Google's AI - Contrary to Reddit's assurances, Google's AI has negatively impacted its user growth by reducing the necessity for users to visit Reddit for answers, as these answers now appear directly in Google's search results [3]. Stock Performance - Following a downgrade by Wall Street analyst Baird on May 21, 2025, due to concerns over Google's AI capabilities, Reddit's stock price fell by $9.79, or over 9%, from $105.64 to $95.85 per share [4].

Meta Platforms (META 1.95%) is the parent company of the world's most widely used social media sites, like Facebook and Instagram. Its sprawling business has already allowed it to achieve a $1.67 trillion valuation, but I think there's much more in store. I could easily see it being worth $3 trillion in five years, which would provide market-beating returns for shareholders.Multiple factors influence this prediction, but Meta's various investments in artificial intelligence are the biggest. Few companies ar ...

Core Viewpoint - The company is well-positioned for a potential stock split, which could signal management's confidence in continued stock price growth, making it a strong buy regardless of the split decision [1][2][3]. Company Overview - Meta Platforms has experienced significant growth, with a stock price increase of 725% over the last decade, and is currently trading above $650 per share [3][6]. - The company has successfully expanded its user base through major acquisitions like Instagram, WhatsApp, and Oculus, while also focusing on advancements in virtual reality and artificial intelligence [7]. Financial Performance - Meta's annual advertising revenue has surged from $11.5 billion in 2014 to an expected $161 billion in 2024, reflecting a compound annual growth rate of 30% [8]. - The company plans to invest approximately $70 billion in capital expenditures this year, primarily for AI-related data centers [9]. Growth Opportunities - Meta aims to leverage artificial intelligence to enhance its advertising capabilities, including AI agents for ad campaign management, which could significantly increase ad value and attract more small businesses [10]. - The company is also exploring the development of chatbot agents for WhatsApp and Messenger, with potential revenue generation of $100 billion per year from these services [11]. - Additionally, Meta is integrating generative AI into augmented reality applications, which could drive mainstream adoption of AR and VR technologies [12]. Valuation - Meta's stock is currently valued at 26 times forward earnings expectations, indicating a reasonable valuation despite potential earnings growth being tempered by increased depreciation from past capital expenditures [13].

有不少机构或LP愿意买单。 将投中网设为"星标⭐"，第一时间收获最新推送 这几天财经热点不少，其中就包括两则交易：一是小红书进行了一笔老股交易，交易估值260亿美元（约合1870亿人民币）， 二是迅雷收购虎扑，花了5亿人民币。人们敏捷地捕捉到两点信息，一是小红书估值又涨了，二是男性用户那是真不值钱。 作者丨张雪 编辑丨张楠 来源丨 投中网 小红书估值的消息来自彭博，据金沙江创投的一份内部文件显示，小红书的估值上涨到260亿美元，不过这份文件的标注日期 是在三月份。一位正在替LP收购小红书老股的投资人向投中网透露，真实成交或许已经加价至300亿美元。最近，小红书老股 的报价已经是：350亿美元 （约合2500亿人民币） ，而且这个价格还没份额。 对此，投中网分别向小红书和金沙江创投主管合伙人朱啸虎进行确认，截至发稿，小红书没有回复。朱总的回答则稍显艺术， 对于350亿美元的估值，他既没承认，但也没有否认，只回了几个字，"没有股东愿意卖"。 一位投资人对我表示，350亿美元的价格就是GRS（金沙江创投）和朱总对外报的，"他报价不一定是为了卖，而是希望让市场 知道或者说维持在这个价格"。不过据我了解，如果350亿美 ...

文 | 点点数据 四月初，美国总统特朗普在社交媒体上宣布，他将签署行政令，再次给予TikTok"不卖就禁用"法律75天宽限期。标志着这款风靡全球的短视频社交应用的 未来走向再次走向未知，同时也为社交市场酝酿了更多的不确定性。 时至今日，距离宽限期满已不足半个月，外界对于TikTok的结局众说纷纭，收购论、合并论、封禁论乃至继续延期的观点各执一词。然而实质上对于美国 社交市场而言其最终的结局无外乎两种，即延续或消失。 "一鲸落，万物生"的结局势必为市场带来更多的机遇，然而终局未至之前，仓促入局不如先看准形势。 回顾这一年里与之相关的诸多热点事件，各大互联网公司纷纷下场布局替代应用以期收割用户；TikTok"难民"涌入小红书通过"对账"破除了彼此的滤镜； 字节主动下架旗下一干产品表明立场...，再延续到总统换届以来，特朗普所策动的一系列关税战乃至所发生的一切堪称"魔幻"的事件。有些变化，似乎已 经悄然发生在了TikTok的"终局"来临之前。 TikTok竞品层出不穷，但市场总体格局变化不大 把时间倒回至"TikTok禁令"敲定的时间点，即美国前总统拜登于2024年4月24日签署国会通过的关于TikTok"不卖就禁 ...

Core Insights - Reddit, Inc. is under investigation for potential violations of federal securities laws, as announced by Bleichmar Fonti & Auld LLP [1] - The investigation stems from claims that Google's use of AI has negatively impacted Reddit's user growth, contrary to Reddit's assurances to investors [2][3] Company Overview - Reddit operates a social news aggregation and forum platform, receiving significant user traffic from Google Search [2] - The platform's user growth has been reportedly hindered by Google's AI search results, which provide answers directly, reducing the need for users to visit Reddit [3] Stock Performance - Following a downgrade by Wall Street analyst Baird on May 21, 2025, Reddit's stock price fell by $9.79, or over 9%, from $105.64 to $95.85 per share [4]

Core Insights - The article discusses the challenges faced by content creators in 2025 regarding multi-platform distribution and the need for tailored strategies to optimize content performance across different platforms [2] Group 1: Platform Rule Differences - Multi-platform publishing is not merely about "copying and pasting" content, as each platform has distinct user demographics, content preferences, and recommendation mechanisms [5] - A notable case involved a team that lost 120,000 followers in a month after posting long videos from Bilibili directly to Douyin, which was deemed "low-quality content" [5] - Creators must adapt to three types of rule differences: content format suitability, optimal posting times, and commercial restrictions [6] Group 2: Flow Leverage Effect - The typical feature of viral content in 2025 is the "cross-platform dissemination chain," exemplified by a rural account that achieved over 1 million GMV in a month through a series of coordinated posts across platforms [9] - Effective linkage strategies include designing flow carryover, innovating content combinations, and utilizing data feedback mechanisms [10] Group 3: Operational Efficiency Revolution - With over 30 mainstream platforms, manual operations are no longer feasible, prompting teams to adopt intelligent distribution systems that significantly reduce content synchronization time [13] - The core value of efficiency tools includes automatic duplicate handling, data aggregation analysis, and collaborative matrix account operations [14] - Creators using multi-platform management tools have seen an average content exposure increase of 5-8 times, with specific examples showing significant improvements in engagement metrics [14]

2004 年，三个大二学生带着他们尚处于雏形阶段的大学社交网站进军硅谷。这个网站只在几个大学校园内运行。它没有占据市场领导地位，甚至不是首 个出现的大学社交网站；其他公司早就推出了这种服务，而且功能更齐全。网站当时只有 15 万注册用户，几乎没有收入。但在那年夏天，他们筹集到了 第一笔 50 万美元的创业资金。不到一年后，他们又另外筹到了 1270 万美元。 Facebook 的故事如今举世皆知。20 年后的今天，还会不会再出现一款超级现象级的社交产品？或者传统社交产品必将走向落寞？ 眼看他起高楼，眼看他楼塌？ 前两天看了一篇文章，叫《时代变了，互联网不再需要陌生人社交》。笔者感慨万千，认同的是陌生人社交确实已经走到了一个十字路口的位置，不认同 的是这篇文章的作者对"陌生人社交"并没有深入理解。如果看这篇文章的你也没有特别深入了解陌生人社交，可以翻阅社交产品笔记早期的文章，里面详 细解释了"为什么要社交"。 事实上，从疫情开始的火爆到疫情后的落寞，陌生人社交市场的的确确开始逐渐消失在非游应用的 Top 榜单上？ 根据 SensorTower 的最新榜单数据，2025 年 4 月海外非游应用收入排行榜上，只有近 ...

在组织建设方面，程一笑提到，快手将继续深化子弟兵的培养和发展计划，通过晋升、绩效和各类内部 大赛等场景，挖掘和培养更多在快手内部成长起来的优秀人才。同时，公司也将进一步构建公平信任的 组织环境和开放的内部沟通环境，打造健康的人才梯队，锻造更优的组织能力，以适应不断变化的市场 环境。 另外，21世纪经济报道记者从快手获悉，快手14周年庆，给所有在职员工发放司庆红包。其中，员工司 龄大于5年的，可以领到888元；司龄介于3年到5年之间的，可以领到666元；司龄3年以下的，可以领到 466元。 谈技术创新：在技术变革关键节点 坚定在AI上投入 在技术创新方面，程一笑强调快手一直是技术发展的受益者。从早期引入算法机制，到如今拥抱AI变 革，快手持续推动技术在业务中的应用。2024年上线的可灵AI在一年内迭代超过20次，取得了技术突 破，并迅速开启了全球商业化进程。此外，快手在智能化产品和工具上的升级重构，也为创作者和商家 的发展提供了支持。目前，平台上AIGC素材的日均消耗已突破3000万，数字人直播技术的应用降低了 商家的经营成本，实现了"24小时不间断开播"。 6月6日，快手迎来十四周年庆，快手科技创始人兼首席执 ...