看清流量迁徙的切面 出品｜虎嗅黄青春频道 作者｜商业消费主笔 黄青春 以下文章来源于黄青春频道 ，作者黄青春Youth 黄青春频道 . 题图｜视觉中国 一个隐秘的新趋势正在小红书风靡。 虎嗅发现，近期，Ask me anything（下简称 AMA）玩法正成为小红书热议的"新风潮"——许多 AI 学术圈大 佬、知名 AI 创业者、大模型负责人纷纷在小红书上发起"Ask me anything"笔记，邀请用户向自己不设限提 问，并积极在评论区互动、对话。 往前回溯，这一趋势始于 9 月开学季，小红书突然成为 AI 前沿技术的"接头基地"。 截至目前，十余位 AI 领域有影响力及知名度的创业者相继入驻小红书，包括零一万物创始人李开复、面壁智 能联创刘知远、千里科技及旷视创始人印奇、维他动力创始人兼 CEO 余轶南、测测创始人任永亮等。 虽然，这股趋势兴起时也有运营痕迹，但这些 AI 明星"找到组织"后一点不怯场，积极以 AMA 形式与网友互 动，"AI 引路人"的话题丝滑融入了日常 UGC 的讨论场域。 甚至，一些专业机构、互联网企业研究院负责人也闻讯而来，跳入了这场大讨论，如上海人工智能实验室领军 青年科学家 ...

Core Insights - A new trend of "Ask Me Anything" (AMA) is gaining popularity on Xiaohongshu, with many AI experts and entrepreneurs engaging with users through this format [2][5][9] - The trend began in September during the school season, positioning Xiaohongshu as a hub for discussions on cutting-edge AI technology [4][11] - The platform has seen a significant increase in AMA-related content, with a 100% month-on-month growth in posts and over 120 million views on related topics [9][13] Group 1: Trend Development - Influential figures in the AI field, including founders and researchers, have joined Xiaohongshu, actively participating in AMAs and engaging with users [5][6][20] - The AMA trend has evolved from a niche discussion among experts to a broader engagement involving various participants, including students and industry professionals [21][30] - Xiaohongshu's ability to capture and leverage trends has positioned it ahead of other platforms, enhancing its community engagement [10][39] Group 2: Community Engagement - The AMA format allows for a more casual and interactive dialogue compared to traditional platforms like Zhihu, making it accessible for non-experts [30][31] - The community's response has been positive, with users enjoying the informal and engaging nature of the discussions, leading to increased participation [32][36] - Xiaohongshu's strategy of focusing on high-profile AI figures has successfully driven engagement and discussion across the platform [35][39] Group 3: Competitive Landscape - Xiaohongshu's expansion into the AI discussion space is seen as a direct challenge to platforms like Bilibili and Zhihu, which have traditionally dominated these topics [27][40] - The platform's diverse content strategy, which includes various interest areas, has attracted a younger audience and increased its relevance in the tech community [11][26] - The AMA trend reflects Xiaohongshu's capability to break community boundaries and adapt to emerging consumer interests [39][40]

Core Viewpoint - Recent discussions among major platforms like Xiaohongshu, Weibo, Kuaishou, Toutiao, and UC highlight their failure to uphold public interest and social responsibility, leading to a deteriorating online environment filled with misinformation and harmful content [1][2]. Group 1: Issues Identified - The platforms have been criticized for the prevalence of vulgar content, malicious traffic generation, and misinformation on trending topics, particularly in three areas: 1. Entertainment content dominating the trending lists, with celebrity gossip overshadowing public interest topics [2][4]. 2. Unregulated dissemination of sensitive information, leading to heightened social tensions and potential harm [4]. 3. Manipulation of information flow, where platforms control what content is visible, creating a biased information environment [5][7]. Group 2: Platform Responsibilities - The recent warnings from regulatory bodies emphasize the need for platforms to recognize their responsibilities and abandon harmful traffic-centric views to maintain a healthy online ecosystem [2][10]. - Platforms are urged to prioritize social benefits over traffic, reducing the exposure of entertainment gossip while increasing the visibility of quality content such as political news and educational resources [9][10]. Group 3: Future Directions - The call for platforms to act as builders of a healthy online ecosystem rather than destroyers is clear, with a focus on adhering to mainstream values and optimizing information recommendation mechanisms [8][10]. - The emphasis is on ensuring that trending topics reflect public interest and are free from manipulation, thereby restoring trust and integrity in online information dissemination [6][9].

文丨吕行 编辑丨杜海 来源丨正经社（ID：zhengjingshe） （本文约为3100字） 【正经社"科技前沿"观察之59】 小红书出事，是迟早的事。 问题的核心是，小红书需要首先弄清楚，"谁是我们的朋友，谁是我们的"敌人"。换言之，平台是大众内容分享社区，还是明星饭圈文化阵地；是值得用户 持续信赖的生活空间，还是充斥不良信息的网络声援之地。 约谈之前，据彭博社消息，小红书的估值在三个月内上涨了19%，达到310亿美元。业界也普遍认为，小红书的IPO已进入冲刺阶段。 然而，"坏消息"随之在网上掀起了不小的波澜。 国家网信办指导上海市网信办，对小红书平台采取约谈、责令限期改正、警告等一系列处置处罚措施，小红书未落实信息内容管理主体责任，在热搜榜单重 点环节频繁呈现多条炒作明星个人动态和琐事类词条等不良信息内容，严重破坏网络生态。 资本市场的青睐与监管部门的严惩形成鲜明反差。 理性地来看，该事件让不少人开始重新审视这个曾经备受年轻人喜爱的生活分享平台，尤其是在商业化进程中，拥有3.5亿用户的小红书，又在焦虑什么？ 1 小红书错在哪里 作为内容平台，当明星的多个词条反复占据热搜榜Top10，投诉"屏蔽无效"，用户 ...

Core Viewpoint - Xiaohongshu is actively enhancing its e-commerce business through various initiatives, including the "Million Commission-Free Plan" and the introduction of new commercial tools and cash subsidies for creators, signaling a shift towards a "buyer era" in its community-driven platform [2][3]. Group 1: E-commerce Developments - Xiaohongshu has transformed its e-commerce section "Market" into a primary entry point within the app, indicating a strategic focus on e-commerce growth [2]. - The platform reported over 1.5 million commercial creators, with a year-on-year growth rate of 61%, and a significant increase in live-streaming buyers and sales [3]. - The number of new merchants on Xiaohongshu has surged by 8.1 times in the past year, with a 3.3 times increase in merchants achieving over 100 million in sales [6]. Group 2: Supply and Demand Dynamics - Xiaohongshu's unique supply structure allows for better discovery of quality products, as evidenced by successful case studies where specific posts led to significant sales increases for brands [6][11]. - The platform's buyer model, which integrates deep user engagement, allows creators to recommend products with a high degree of accuracy and trust [7]. - The community's demand is driven by real-life experiences and interactions, leading to a more engaged and motivated consumer base [14][19]. Group 3: New Relationships and Roles - Creators on Xiaohongshu are referred to as "buyers" rather than traditional influencers, emphasizing their role in curating and building trust with their audience [21]. - The platform has introduced new features to enhance the buyer's ability to showcase products, allowing for a more personalized shopping experience [25]. - Xiaohongshu's approach fosters long-term relationships between creators and their audience, moving away from short-term sales tactics to a model based on trust and community engagement [23][26].

Group 1 - The article discusses the organization of the "National Defense Education Month" activities in 2025, aimed at enhancing national defense awareness among the public [2] - A special program titled "National Defense Open Class" will be broadcasted on the Xiaohongshu APP from September 12 to September 30, featuring daily lessons and interactive participation [2] - Citizens can participate in a quiz activity from September 24 to September 30, with rewards for consistent participation and high scores [3] Group 2 - The "National Defense Open Class" will air daily at 9 AM, with a replay until 11 PM, encouraging citizens to engage and earn points towards a certificate [2] - Participants in the quiz can earn an electronic certificate by answering questions correctly for seven consecutive days, with prizes for top scorers [3] - The prizes include emergency kits, custom badges, and canvas bags, with a total of 800 awards distributed among first, second, and third place winners [3]

Core Viewpoint - Xiaohongshu, valued at $31 billion (approximately 220 billion RMB), is facing regulatory scrutiny as it approaches its IPO, following a warning from the Shanghai Cyberspace Administration for promoting celebrity content and disrupting the online ecosystem [1][15][21] Group 1: Regulatory Challenges - Xiaohongshu has been warned by the Shanghai Cyberspace Administration for frequently promoting celebrity dynamics, which has led to concerns about its impact on the online environment [1][15] - The platform has acknowledged the warning and stated it will implement corrective measures [3] - This is not the first time Xiaohongshu has faced regulatory issues; it was previously fined for violating minor protection laws [12][14] Group 2: User Engagement and Content Strategy - Xiaohongshu has 350 million monthly active users but is experiencing a slowdown in user growth, with increased focus on celebrity content to drive engagement [6][9] - Users have expressed dissatisfaction with the platform's algorithm, which prioritizes celebrity-related content over public interest topics, leading to complaints about content homogenization [8][10] - The platform's strategy of promoting celebrity content has been criticized for undermining its original purpose of sharing genuine life experiences [10][11] Group 3: Financial Performance and IPO Prospects - Xiaohongshu's valuation has increased by 19% in three months, reaching $31 billion, with expectations of profits exceeding $3 billion by 2025 [15][17] - The company is restructuring its business model to enhance monetization, including partnerships with Taobao to improve transaction efficiency [17] - Despite achieving profitability for the first time in 2023, the market remains cautious about its advertising growth and sustainability of new business ventures [17][19] Group 4: User Experience and Service Issues - Users have reported significant issues with Xiaohongshu's customer service and after-sales support, describing it as ineffective [18][19] - Complaints about the platform's logistics and order processing have surfaced, highlighting operational inefficiencies compared to established competitors [18][19]

Core Viewpoint - Xiaohongshu, a "grass-planting" giant with a valuation of $31 billion (approximately 220 billion RMB), is facing regulatory scrutiny as it approaches its IPO phase due to issues related to celebrity content and network ecology disruption [1][19]. Group 1: Regulatory Challenges - Xiaohongshu was recently warned by the Shanghai Cyberspace Administration for frequently promoting celebrity dynamics, which has been deemed harmful to the online ecosystem [2][6]. - The platform acknowledged the warning and committed to implementing corrective measures [4][6]. - This is not the first time Xiaohongshu has faced regulatory issues; it was previously fined for violating minor protection laws in January 2022 [14]. Group 2: User Experience and Content Strategy - Users have expressed dissatisfaction with the platform's focus on celebrity content, which has led to complaints about the lack of meaningful public discourse and the overwhelming presence of trivial celebrity news [10][12]. - Xiaohongshu's strategy of promoting celebrity content has been criticized for prioritizing short-term traffic and engagement over authentic user-generated content [13][26]. - The platform's user growth has shown signs of slowing down, with monthly active users (MAU) reaching 350 million but with a deceleration in growth rate [11][12]. Group 3: Financial Performance and IPO Prospects - Xiaohongshu's valuation has increased by 19% in three months, reaching $31 billion, with expectations of profits exceeding $3 billion by 2025 [19][22]. - The company is restructuring its business model to enhance monetization, including initiatives like the "Red Cat Plan" to improve traffic conversion efficiency [22][26]. - Despite achieving profitability for the first time in 2023, the market remains cautious about the sustainability of its advertising growth and e-commerce conversion rates [22][26]. Group 4: Community and Service Issues - Users have reported significant issues with the platform's customer service and after-sales support, describing it as ineffective and unresponsive [23][24]. - Complaints about the shopping experience highlight systemic flaws in the order fulfillment process, leading to user frustration [23][24].

Group 1 - The core issue is that Xiaohongshu platform was summoned by the Shanghai Cyberspace Administration for failing to manage harmful content effectively, which disrupts the online ecosystem [3] - The platform frequently displayed inappropriate content related to celebrity gossip and personal matters on its trending list, leading to regulatory action [3] - The regulatory body emphasized the importance of maintaining a clean and healthy online environment, indicating ongoing efforts to address violations that harm the online ecosystem [3] Group 2 - Xiaohongshu was established in 2013, initially serving as a guide for overseas shopping, commonly referred to as "Hai Tao" [5] - The platform quickly gained popularity, achieving tens of thousands of downloads within a month of its launch [5] - Over time, Xiaohongshu evolved into a leading "grass-planting" community in China, known for its strong social attributes and content generation capabilities [5]

Group 1 - The valuation of Xiaohongshu has surged by 19% in just three months, reaching $31 billion, as disclosed in an investment portfolio document from a fund managed by GSR Ventures [2][3] - Xiaohongshu's valuation has increased significantly from $26 billion in March to $31 billion, indicating strong market interest and potential for future growth [3] - The company is expected to achieve profits exceeding $1 billion in 2024, with projections of $3 billion in 2025, highlighting its commercial potential [2][3] Group 2 - Advertising remains the primary revenue source for Xiaohongshu, accounting for nearly 80% of its income in 2023, despite efforts to explore e-commerce [4] - The company has partnered with Taobao and JD.com to enhance its advertising capabilities, allowing users to link directly to external products [4] - Xiaohongshu's advertising strategy includes two collaboration models: direct investment from merchants and a model involving Alibaba's algorithm for optimization [5] Group 3 - Xiaohongshu's e-commerce business has shown significant growth, with a GMV of over 400 billion yuan in 2024, and a substantial increase in the number of merchants [6] - However, the company faces challenges in its e-commerce strategy, which has been inconsistent, impacting its growth rate [7][10] - Frequent organizational changes reflect a strategic uncertainty, but they also indicate ongoing attempts to optimize business operations [8][11] Group 4 - The introduction of a "marketplace" feature on the homepage aims to enhance user engagement and purchasing intent, particularly among younger users [12][13] - Xiaohongshu plans to expand its e-commerce initiatives by conducting more industry recruitment activities and enhancing its product offerings by 2025 [13] - The company is navigating the challenge of balancing its community-oriented platform with commercial demands, requiring ongoing experimentation and adaptation [14]