Group 1 - The article discusses the resurgence of Luo Yonghao, highlighting his ability to generate public discourse and leverage it for commercial success through live streaming [4][7][8] - Luo's recent conflict with Xibei has positioned him as a figure of public support, with 90% of online sentiment favoring him during the controversy [7][25] - During the peak of the conflict, Luo's live streaming platform attracted 12 million viewers and generated sales estimated at 50 million yuan, a significant increase from previous sales figures [8][23] Group 2 - Luo Yonghao's transition from technology entrepreneurship to becoming a prominent live streamer showcases his adaptability and understanding of market dynamics [20][28] - The article notes that Luo's ability to set public discourse topics has become a key differentiator compared to other streamers, enhancing his commercial viability [9][30] - Despite setbacks in his AR ventures, Luo continues to recruit for AI-related positions, indicating a strategic pivot towards AI technology [20][31] Group 3 - The article emphasizes the importance of public sentiment and discourse in driving traffic and sales for Luo's live streaming business, contrasting it with other streamers who lack similar capabilities [29][31] - Luo's public persona has evolved, with his recent actions reinforcing his image as a representative of the younger generation, further enhancing his marketability [25][26] - The article concludes that Luo's unique ability to engage in public discourse and convert it into commercial success positions him as a leading figure in the live streaming industry [28][30]

从辛巴手里接管辛选集团后，初瑞雪在近日的直播中宣布了新的调整，将主播合作模式由签约制升级为 合伙制。在新的模式下，辛选收取约5%的服务费，利润与主播四六分成。 网经社电子商务研究中心数字生活分析师陈礼腾向红星资本局表示，该模式可降低公司成本、规避风 险，并激发主播自主性。然而，主播需自负盈亏，面临更大挑战。 23日，红星资本局就此采访辛选集团，截至发稿暂无回应。 主播自负盈亏 辛选收取5%服务费 初瑞雪表示，主播会与集团成立独立的合伙企业，他们每个人都是自己公司的CEO。辛选主要负责供应 链、中台支持和资源赋能，但不再直接管理主播运营。 直播中，辛选头部主播赵梦澈提到，主播们的分成会翻倍，公司仅收取约5%的服务费，其他的利润分 给主播六成，剩下四成利润维持公司运转。 随后，赵梦澈对身后的主播们说道，在新的合伙制模式下，"你们是自己的法人（法定代表人），可以 查自己的账，对自己的流量，但是赔钱公司不管。" 红星资本局注意到，赵梦澈在直播中对主播们说，"只是希望你们活下去，希望你们都好。" 对于这一变化给辛选带来的影响，9月23日，红星资本局采访辛选集团，截至发稿暂无回应。 据辛选官网，其开创了成熟的主播选拔、培 ...

Core Viewpoint - The article discusses how Luo Yonghao has successfully created a closed-loop business model in the live-streaming industry, leveraging his ability to generate public discourse and convert that into sales through live broadcasts [4][12][35]. Group 1: Luo Yonghao's Business Strategy - Luo Yonghao has transitioned from being a tech entrepreneur to a prominent figure in live-streaming, effectively using his platform to set topics and generate traffic [10][35]. - During a recent conflict with Xibei, Luo's live-streaming attracted 10 million viewers and generated sales estimated at 50 million yuan, a significant increase from previous sales figures [11][28]. - Luo's ability to create public discourse has positioned him as a unique "topic-setting anchor" in the industry, contrasting with other streamers who chase traffic without engaging in public discussions [13][38]. Group 2: Challenges and Shifts in Focus - After experiencing setbacks in the AR sector, Luo acknowledged the difficulties in commercializing AR technology and shifted his focus towards AI, although initial product launches have faced delays [20][25]. - Luo's team has been actively recruiting for AI-related positions, indicating a continued interest in technology despite the challenges faced [26]. - The article highlights that Luo's public persona has evolved, with a growing emphasis on his role as a commentator and influencer rather than solely a tech entrepreneur [14][32]. Group 3: Public Perception and Influence - Luo's recent public engagements have significantly increased his follower count, with a notable rise of 700,000 followers in just one week during the Xibei controversy [34]. - Data analysis shows that 47% of online comments supported Luo during the recent public debate, indicating a strong public backing [33]. - Luo's ability to capture public sentiment and engage in timely discussions has solidified his status as a key figure in the live-streaming and tech discourse [36][40].

Core Viewpoint - The article discusses the resurgence of Luo Yonghao in the tech and live-streaming industry, highlighting his ability to generate public discourse and leverage it for commercial success through live-streaming sales [4][7][24]. Group 1: Luo Yonghao's Journey - Luo Yonghao transitioned from a tech entrepreneur to a prominent live-streamer, utilizing his skills in public speaking to create engaging content and drive sales [4][6][24]. - He has established a podcast titled "Luo Yonghao's Crossroads," where he interviews tech leaders and entrepreneurs, further enhancing his public persona [4][6]. - Luo's recent conflict with the restaurant chain Xibei has positioned him as a champion of public sentiment, with 90% of online support during the controversy [7][22]. Group 2: Commercial Success in Live-Streaming - During the period of the Xibei controversy, Luo's live-streaming platform attracted 12 million viewers, generating an estimated sales peak of 50 million yuan, a significant increase from previous sales figures [8][19]. - Luo's ability to set public discourse topics has made him a unique figure in the live-streaming industry, contrasting with other streamers who lack this capability [9][27]. - The article notes that Luo's live-streaming sales have become a stable revenue source, with a notable increase in sales during public controversies [19][28]. Group 3: Challenges and Future Directions - Despite initial success in the AR field, Luo acknowledged the challenges and setbacks faced, including a lack of commercialization potential for AR glasses [16]. - The article mentions a shift in Luo's focus from AR to AI, with plans to launch a new AI product, although it has faced delays [12][16]. - Luo's ongoing recruitment for AI-related positions indicates a continued commitment to technology, even as he capitalizes on his live-streaming success [17][28].

Core Viewpoint - The article discusses the recent activities and public perception of Luo Yonghao, highlighting his ability to leverage public discourse for commercial success, particularly in the live-streaming sector, while transitioning from AR to AI technology [6][12][20]. Group 1: Luo Yonghao's Public Engagement - Luo Yonghao has re-emerged in the public eye through a podcast series where he engages with tech leaders, setting topics that generate significant public discourse [7][8]. - His recent conflict with Xibei has positioned him as a champion of public sentiment, with 90% of his supporters backing him during this controversy [8][18]. - The live-streaming event during the conflict attracted 10 million viewers and generated an estimated sales volume of 50 million yuan, a significant increase from previous sales figures [8][15]. Group 2: Business Model and Financial Performance - Luo Yonghao's business model effectively combines public discourse with live-streaming sales, creating a closed loop that maximizes revenue [8][20]. - The company "交个朋友" saw its stock price rise over 12% in two trading days following the live-streaming event, indicating a positive market reaction [8]. - Despite a 9.8% year-on-year revenue growth in the first half of 2025, the net profit of "交个朋友" declined by 33%, attributed to rising customer acquisition costs [21]. Group 3: Transition from AR to AI - After a challenging period in the AR sector, Luo Yonghao's team is shifting focus to AI, with plans to release a new product that promises "disruptive innovation" [12][14]. - The company has applied for 15 patents related to AR technology, but the overall AR/VR industry is experiencing a downturn, with a 23.5% decline in global headset shipments in 2023 [9][12]. - Luo Yonghao's pivot to AI reflects a strategic response to the challenges faced in the AR market, as he continues to recruit talent for AI-related projects [14][20].

Core Insights - The era of top live-streaming hosts is coming to an end, with significant declines in viewership and sales figures observed in 2025 compared to previous years [2][3] - The live-streaming e-commerce model is becoming increasingly challenging for small and medium-sized businesses, with profitability concentrated among top hosts and established individual brands [3][5] - Future strategies for top hosts are shifting towards self-branded products, supply chain management, and content innovation to sustain growth [5][6] Group 1: Industry Trends - In June 2025, the average daily viewership for a leading live-streaming host dropped to 15.04 million, a 45% decrease from the same period in 2024 [2] - Sales figures for prominent hosts like Li Jiaqi have also shown a downward trend, with his sales during the 618 pre-sale event dropping from 49.77 billion in 2023 to 25-35 billion in 2024 [2] - The influx of wealthy investors and celebrities into the live-streaming space has made it increasingly difficult to generate profits, leading some experienced hosts to pivot to teaching rather than selling [3] Group 2: Business Model Evolution - Top hosts are reducing their live-streaming frequency and exploring alternative revenue streams, indicating a shift in the market dynamics [5] - The development of self-branded products is becoming a key focus for top hosts, allowing them to gain greater control over pricing and brand identity [5] - Short-form content, such as short dramas, is being utilized by hosts to create new traffic channels and enhance emotional connections with their audience [5][6]

Core Insights - The article discusses the resurgence of Luo Yonghao, who has transitioned back into the public eye through his podcast and live streaming, leveraging his ability to generate public discourse and drive sales [5][19][21]. Group A: Luo Yonghao's Transition - Luo Yonghao has taken on multiple roles, including a tech entrepreneur, podcast host, and live streamer, with his streaming identity proving to be the most commercially viable [19][21]. - After a period of reflection prompted by Liang Wenfeng's comments, Luo decided to remain in the tech sphere while also capitalizing on his strengths in public speaking and discourse [2][11]. Group B: Impact of Public Discourse - Luo's recent public engagements, particularly his conflict with Xibei, have significantly increased his visibility and popularity, with 90% of public sentiment reportedly in his favor [5][17]. - During the peak of the controversy, his live streaming attracted 1.2 million viewers and generated sales estimated at 50 million yuan, a substantial increase from previous sales figures [6][14]. Group C: Business Model and Strategy - Luo's business model is characterized by creating public discourse that drives traffic to his live streams, where he can convert that traffic into sales [6][20]. - The article highlights Luo's ability to set topics in the public arena, which contrasts with other streamers who lack this capability, making him a unique figure in the industry [21][23]. Group D: Challenges and Future Directions - Despite his recent successes, the AR/VR industry is facing a downturn, with a reported 23.5% decline in global headset shipments in 2023, which poses challenges for Luo's tech ventures [10]. - Luo's team is reportedly shifting focus from AR to AI, with plans to release a new product that promises "disruptive innovation," although previous announcements have faced delays [11][24].

Core Viewpoint - The disparity between the high costs associated with influencer marketing and the actual sales results highlights the deceptive practices within the live-streaming e-commerce industry, raising concerns about the integrity of data presented by influencers and the potential exploitation of small businesses [2][3]. Group 1: Influencer Marketing Issues - A businessman in Heilongjiang paid 50,000 yuan as a "placement fee" to a popular influencer with millions of followers, expecting significant sales, but only one order was completed [2]. - Another case involved a businessman from Henan who was promised a minimum sale of 20,000 pairs of shoes but ended up selling only 58 pairs, which is less than 0.3% of the promised amount [2][3]. - Influencers often evade accountability by claiming that contracts do not guarantee sales, leading to frustration among businesses seeking refunds [3]. Group 2: Data Integrity Concerns - Complaints regarding live-streaming sales have surged, with 402,000 reports received in 2024, marking a 19.3% increase from the previous year, and complaints related to short video platforms rising by 48.8% [3]. - Many small businesses lack the ability to discern the reliability of the data presented by influencers, which can include purchased followers and manipulated view counts [3][5]. - The discrepancy between the impressive data shown before signing contracts and the actual sales results raises questions about the authenticity of the influencers' claims [3]. Group 3: Regulatory and Ethical Considerations - China's e-commerce law prohibits false advertising and data manipulation, emphasizing the need for truthful marketing practices [4]. - The live-streaming industry is urged to enhance data verification processes to ensure that displayed metrics are accurate and reflective of market realities [5]. - Regulatory bodies are called to implement targeted management measures to address industry irregularities and enforce stricter oversight against false advertising and data fraud [6].

Core Viewpoint - The article highlights the growing concerns regarding the effectiveness and reliability of influencer marketing in live-streaming sales, particularly focusing on the disparity between promised and actual sales outcomes, leading to dissatisfaction among small merchants [2][3][6]. Group 1: Issues Faced by Merchants - Merchants like Mr. Tao and Mr. Xue have experienced significant discrepancies between the sales promised by influencers and the actual sales achieved, with Mr. Tao only selling 1 unit despite a 50,000 yuan "placement fee" and Mr. Xue selling only 58 pairs of shoes against a promised 20,000 pairs [2][3]. - Influencers often evade accountability by claiming that contracts do not guarantee sales, which has led to frustration among merchants seeking refunds [6][9]. Group 2: Data Reliability Concerns - The article points out that many merchants are misled by seemingly impressive data presented by influencers, such as high follower counts and live viewer numbers, which may not reflect genuine engagement or sales [7][9]. - There are allegations that some influencers engage in practices like purchasing fake followers and manipulating live-stream data, which undermines the integrity of the marketing process [10][12]. Group 3: Regulatory and Industry Response - The increase in complaints related to live-streaming sales, with 402,000 reports in 2024, indicates a growing need for regulatory oversight in this sector [6]. - The article calls for improved regulations and enforcement against deceptive practices in influencer marketing, emphasizing the need for platforms to ensure data accuracy and transparency [10][12]. Group 4: Recommendations for Merchants - Merchants are advised to critically evaluate potential influencer partnerships, focusing on past performance and genuine user feedback rather than just follower counts [12]. - It is recommended that merchants clearly outline their rights and obligations in contracts to mitigate risks associated with verbal agreements [12].

Core Viewpoint - The article highlights the growing discontent among small merchants regarding the effectiveness and reliability of influencer marketing, particularly in live streaming sales, where promised sales figures often do not materialize, leading to financial losses for businesses [1][4][6]. Group 1: Case Studies of Merchants - A merchant in Heilongjiang paid 50,000 yuan as a "slot fee" to an influencer with millions of followers, expecting to sell 6,000 to 8,000 units of beer, but only one sale was made [1][4]. - Another merchant from Henan invested 50,000 yuan and prepared over one million yuan worth of inventory based on promises of selling 20,000 pairs of shoes, but only 58 pairs were sold, which is 0.3% of the promised amount [2][6]. Group 2: Complaints and Regulatory Response - Merchants are facing difficulties in obtaining refunds, as influencers' representatives claim that contracts do not guarantee sales volumes, leading to frustration among affected merchants [6][9]. - In 2024, the 12315 platform received 402,000 complaints related to live streaming sales, marking a 19.3% increase from the previous year, with complaints on short video platforms rising by 48.8% [6][10]. Group 3: Issues with Data Integrity - Many merchants are misled by seemingly impressive data presented by influencers, such as high online viewer counts and sales figures, which may not reflect actual performance due to potential data manipulation [7][9]. - The article emphasizes that some influencers may use purchased followers and artificial engagement tactics, leading to a significant disparity between reported and actual sales [7][10]. Group 4: Recommendations for Improvement - The article calls for stricter regulations and oversight in the live streaming e-commerce sector to combat issues like false advertising and data manipulation, urging platforms to ensure data integrity [10][12]. - Merchants are advised to critically evaluate potential influencer partnerships, focusing on past performance and user reviews rather than just follower counts, and to clearly outline contractual terms to protect their interests [12].