Core Viewpoint - The article emphasizes the transformative potential of AI in the field of mental health care, suggesting that AI can enhance the effectiveness and accessibility of psychological treatments [11][21]. Summary by Sections Introduction to AI in Mental Health - The article discusses the feasibility of applying AI broadly in psychological treatment, highlighting that AI models can exhibit statistical advantages in empathy and kindness compared to human practitioners [11][12]. Data Collection and Analysis - Digital technologies can provide more objective and continuous data collection methods, utilizing smartphones and wearable devices for passive monitoring of behaviors [12]. - AI can analyze large datasets from therapy sessions to identify effective interventions and therapist behaviors, revealing insights that smaller datasets might miss [13]. Stages of AI Integration - The integration of AI in mental health can be categorized into three stages: 1. Basic AI assistance for documentation and treatment planning [19]. 2. Collaborative AI involvement in reviewing session records and assisting patients [19]. 3. Fully autonomous care where AI can perform all tasks traditionally done by human clinicians [19]. Future of Mental Health Care - The article envisions a future where mental health care becomes more affordable and accessible, akin to services like Spotify and Netflix, allowing for personalized treatment options [15][16]. - AI-driven platforms could facilitate the exploration of various therapeutic methods, making it easier for individuals to find the most effective treatment for their needs [18][20]. Benefits of AI in Therapy - AI systems can enhance the training of human therapists and provide support, allowing for greater patient interaction and access to care for millions who currently lack it [21]. - The potential for continuous, personalized support through AI could lead to healthier coping mechanisms and emotional resilience among users [21].

将投中网设为"星标⭐"，第一时间收获最新推送 投资机构的边界或许不局限于传统的募投管退。 作者丨曹玮钰 来源丨 投中网 刚刚，凯辉在欧洲募了一支VC基金，规模10亿美元。这支基金同时创下两项纪录：欧洲有史以来最大的AI基金，以及欧洲"最 大VC基金"。 作为一家中国人在欧洲创立的GP，凯辉做到这份上着实提气，尤其放在外资基金式微、基金普遍缩水的大背景下，10亿美金 的份量更值得感慨。 先看一下这期基金的具体情况。这是凯辉的VC基金的第三期（创新基金三期），LP还是以凯辉的"老朋友"世界500强和产业方 为主，包括赛诺菲、道达尔能源、法雷奥、法国巴黎银行保险、法国赛博集团、巴黎机场集团、淡水河谷及南美能源与科技集 团COPEC都在其列，产业方浓度超50%，基金投资将覆盖中国及东南亚、欧洲与北美等地。 值得注意的是，这支基金早在2022年就完成6亿美元首关，当时的投资方向相对广泛，覆盖大消费、企业软件、人工智能、金 融科技等8个赛道。如今基金完成终关，投向却更加聚焦——"专注于推动人工智能在垂直领域的深度应用，覆盖数字医疗、金 融科技、消费以及出行与能源四大关键产业"。 段兰春： 2022年的基金首关，其实是我们 ...

Meeting Details - The 4th meeting of the 10th Board of Directors of Kunwu Jiuding Investment Holdings Co., Ltd. was held on May 26, 2025, via telecommunication, with all 9 directors present [1] - The meeting was convened in accordance with the Company Law and the Articles of Association, and the resolutions made are legally valid [1] Agenda Items - The board approved a proposal to sign a framework cooperation agreement and provide financial assistance [2][5] - A wholly-owned subsidiary, Jiangxi Ziheng Construction Engineering Co., Ltd. (Ziheng Construction), will provide a loan to Zhongzhou Real Estate for land acquisition and project development [2] Loan Details - The loan amount is RMB 20 million, with a 12-month usage period [2] - The interest rate is 6% for the first 6 months and 12% for the subsequent 6 months, calculated on a simple interest basis [2][3] - The interest calculation formula is: Interest = Loan Amount × Annual Interest Rate × Actual Days Used ÷ 365 [3] Collateral and Capital Increase - Zhongzhou Real Estate will provide collateral including 100% equity pledge and personal guarantees from shareholders [3] - The registered capital of Zhongzhou Real Estate must be increased from RMB 5 million to RMB 20 million [3] Project Cooperation - Ziheng Construction will assist in land acquisition and development, with a total contract value not less than RMB 150 million [2][4] - A construction contract will be signed simultaneously with the framework agreement, effective upon successful land acquisition [4] Profit Assurance - The contracts must specify a reasonable profit calculation method for Ziheng Construction, ensuring a profit margin not lower than industry standards [4]

在职业价值导向层面，上海交通大学上海高级金融学院2024年毕业典礼上，学院负责人在致辞中 寄语毕业生：不要因为从事金融行业而产生羞耻感…… 无独有偶，在全球经济结构深度调整的背景下，美国近期出现对金融行业价值导向的反思性讨论。 特朗普在高校毕业典礼致辞中呼吁这些商科高材生们放弃看似 "高大上" 的金融领域。他指出青年 人才应避免过度聚焦金融投机领域，转而关注实体经济领域的价值创造。 本期导读： 当下，金融行业面临的问题之一就是过去金融的繁荣，使得就业者暴增。如今行业面临压力，金 融行业精英们正经历一场"上山下乡"运动，核心是转哪行？ 作者丨 范译阳 本期推荐阅读5分钟 57年前，中国城市曾面临青年就业结构调整，大量中学毕业生的职业路径与城乡资源分配议题引 发社会关注。1968 年，知识青年参与农村建设的相关举措成为特定历史时期的社会现象，1975 年 全国参与相关实践的青年人数达 236.8 万。1980 年随着改革开放后城市经济活力增强，相关政策 逐步调整，城市就业机会逐渐增加。这一历程成为一代人特定代际的集体记忆。 回到金融行业生态，当下， 金融行业面临的问题之一就是过去金融的繁荣， 使得就业者暴增。据 ...

Market Overview - The overall stock market has returned to early-year levels, but corporate earnings and consumer confidence indicators are showing signs of weakness [1] - Uncertainties in the market are largely stemming from Washington, particularly regarding tariff and tax policy disputes, with no short-term resolution in sight [1] Historical Summer Performance - Historical data from American Century Investments indicates that summer markets have recorded gains in 38 out of the last 50 years, with an average increase of approximately 3.9% from May 1 to October 31 [2] - Despite this positive historical performance, the current market conditions for the summer of 2025 present several warning signals, including a near 21 times forward P/E ratio for the S&P 500, approaching levels seen in the late 1990s [2] Current Market Sentiment - The first quarter earnings season showed strong performance, with 78% of S&P 500 companies exceeding earnings expectations, slightly above the five-year average of 77% [3] - However, there has been an increase in the mention of "recession" during earnings calls, marking the highest frequency since 2022 [3] - Analyst sentiment is also cautious, with Yardeni Research reporting the worst record in two years for the ratio of analysts raising versus lowering earnings and revenue forecasts [3] Key Events Impacting Summer Market - Ongoing disputes over tariffs and tax policies are contributing to market volatility, with significant fluctuations often following President Trump's trade policy announcements [3] - Upcoming trade negotiations between the U.S. and Japan are set for May 30, with Japan seeking to expand investments in the U.S. and modify import regulations, although the U.S. remains cautious regarding auto tariffs [4] - The U.S. and EU trade talks have gained momentum after Trump backed off from imposing tariffs, but uncertainty remains among EU businesses regarding the outcome of these negotiations [4] Legislative Developments - A new tax and spending bill proposed by Republicans, referred to as the "Beautiful Bill," is facing resistance due to concerns over increasing the deficit, with key senators expressing the need for significant modifications [5] - The bond market is showing signs of unease, with 30-year Treasury yields exceeding 5%, nearing the highest levels since 2007 [5] Federal Reserve's Role - The Federal Reserve is expected to maintain high short-term interest rates to combat inflation, with meetings scheduled for June 17-18 and July 29-30 [6] - Current market expectations suggest a greater than 70% probability that the Fed will keep rates unchanged, but any unexpected rate cuts could lead to a stock market rebound unless economic data indicates a looming recession [6]

Core Insights - The article presents the weekly ranking of outstanding works in the "作·嗅之星" list, highlighting the top articles from May 16 to May 22, 2025 [1][3] Ranking Summary - TOP 1: "Xiaomi's 'Pure Public Relations Disaster'" by Che Nian Ji [4] - TOP 2: "Why Buffett Almost Never Invests in A-shares but Continues to Increase Holdings in Japan" by Ren Shen Gong Fen [5] - TOP 3: "The Last Batch of 'Restaurant Kings' is Being Abandoned by the Times" by Hong Can Wang [6] - TOP 4: "How Middle-Class Moms' Travel Money is Being Siphoned Off" by Lv Jie [7] - TOP 5: "Chinese Takeout, All Losers" by Nan Qi Dao [3] - TOP 6: "How Japan Avoided Middle-Class Poverty in the 'Lost Thirty Years'" by Qing Nian Zhi Youthology [3] - TOP 7: "Do You Hope China Will Develop to the Level of Europe in Twenty Years?" by Ning Nan Shan [3] - TOP 8: "After AI, I Decisively Uninstalled Duolingo, Which Controls 500 Million People" by APPSO [3] Selection Criteria - The selected works are based on various dimensions such as article quality and popularity. Readers can also support their favorite works and authors through reading, sharing, and interaction [9]

文章转载自红杉中国公众号「红杉汇」，内容略有调整。 红杉中国开放了他们内部进行 AI 和 Agent 基准测试的工具「 xbench」，并发布了相应论文《xbench: Tracking Agents Productivity，Scaling with Profession-Aligned Real-World Evaluations》。 论文地址： https://xbench.org/files/xbench_profession_v2.4.pdf TLDR： | Benchmark | Category | 151 B | 8 2nd | g 3rd | Details | | --- | --- | --- | --- | --- | --- | | xbench-ScienceQA | AGI Tracking | 03- high 60.8 | Gemini 2.5 Pro 57.2 | Doubao-1.5-thinking- pro 53.6 | View > | | xbench-DeepSearch | AGI Tracking | 03 65+ | o4-mini-high 60+ | ...

将投中网设为"星标⭐"，第一时间收获最新推送 AI下半场，如何定义"好问题"？ 来源丨 投中网 红杉中国宣布推出 一个 全新的 AI 基准测试 xbench 。 根据 xbench 的介绍，这是首个由投资机构发起，联合国内外十余家顶尖高校和研究机构的数十位博士研究生，采用双轨评估体系和长 青评估机制的基准测试。它将在评估和推动 AI 系统能力提升上限与技术边界的同时，重点量化 AI 系统在真实场景的效用价值，并长期 捕捉 Agent 产品的关键突破。 面向 AI 产品做出基准，这在产业、高校和研究机构是常见行为，但红杉中国作为一家投资机构，拿出很重的投入度，"跨界" 推出 一款 专门 产品（甚至还附带一篇论文）， 放在全球投资行业也是头一遭，说明红杉中国不仅有很强的业务洞察和务实姿态，在 AI 行业的布 局决心，还在投资业务上在持续拓展着边界 。 自 ChatGPT 一炮而红以后，红杉中国可能是最早行动起来全面拥抱 AGI 的机构。 AI 六小龙中，红杉中国独中四元，具身智能领域大 热的宇树科技、智元机器人，也都是红杉中国的被投企业，今天凭借 Manus 在 Agentic AI 领域火热的蝴蝶效应，也在 A ...

瀚亚投资预计，关税及美国政策的重大不确定性将抑制2025年全球经济增长。美国经济增长将放缓至 1.2-1.5%，且风险偏向下行。即使目前对中国(部分货品除外)征收30%关税以及对其他国家所有货品征 收10%关税的方案迅速落实，这仍相当于规模约为美国国内生产总值(GDP)1.5%的加税措施，创下数十 年来最大的单年加税幅度之一。 瀚亚投资称，债券市场提供多个以理想估值购入优质资产的机会。由于实际收益率吸引，加上经济基础 基本因素强韧，亚洲当地货币债券展现吸引的投资机会。此外，这类债券与已发展市场资产的相关性 低，并且逐渐纳入主要债券指数，增强了其分散投资优势。 总括而言，投资者仍应转向防守型策略，以应对未来的市场压力。在这方面，低波幅策略能尽量减低下 行风险，同时使投资者参与市场升势。 该行表示，关税谈判长期走向的不确定性可能继续触发市场间歇波动。面对当前环境，投资者应寻求进 一步分散投资，意味着亚洲及新兴市场的上行潜力将会增加，因为这些市场的估值更为吸引，占投资组 合的比重更低。从估值过高的市场重新平衡至估值较吸引且基本因素不断改善的市场属审慎之举。 例如，按市账率(P/B)计算，日本仍是全球估值最低的市场之 ...

Group 1 - The workplace is about creating value, where a partner expects an employee to generate more value than their salary, necessitating skill development to meet higher salary expectations [3][4] - Building relationships with influential figures is crucial, as it aids in navigating the industry and enhancing one's value within the organization [3][4] - Understanding the partner's perspective is essential, as it reflects the industry's characteristics and the rationality behind their actions [4] Group 2 - Investment capability is defined by the ability to identify and advocate for top projects amidst increasing competition and narrowing listing channels [6] - New employees must leverage their existing resources and relationships to enhance their resumes and secure better opportunities in the future [6][7] - Continuous learning and adaptability are vital, as opportunities can arise in unexpected areas, such as innovative investment strategies [7] Group 3 - Investment is fundamentally about understanding interests and human nature, with a focus on aligning the needs of various stakeholders in a transaction [8][9] - A successful investment proposal must satisfy multiple parties, including limited partners, partners, companies, founders, and other stakeholders [9][10] - The personal interests of investment managers should also be considered, as they play a role in the overall success of the investment [10] Group 4 - Qualities like kindness may not hold value in the investment industry, and a firm approach is often necessary to navigate challenges effectively [11]