📰 Weekly Highlights#
Reddit Files for IPO#
Known as the "American Tieba," Reddit is preparing for its IPO.
On February 22, Reddit, which primarily operates as a social platform, submitted its prospectus to the U.S. Securities and Exchange Commission (SEC). The prospectus mentions that Reddit will soon conduct its initial public offering (IPO) on the New York Stock Exchange under the ticker symbol "RDDT," with underwriters including Morgan Stanley, Goldman Sachs, and more than ten other institutions.
"Going public is to advance our corporate mission and make Reddit a stronger company," Reddit co-founder Steven Huffman stated in an open letter.
He also believes that one of Reddit's main advantages is that the vast amount of information on the platform will become high-quality training data for large models. "The data and information on Reddit will grow and regenerate as users access it. We expect the continuously increasing amount of data and intellectual property on the platform to be key elements for training future large language models (LLMs)."
Notably, on the same day Reddit's prospectus was made public, Google also announced its latest collaboration plan with Reddit, expanding cooperation in cloud services and data sharing. Specifically, Google Cloud will provide AI-driven support through its application Vertex AI to help Reddit improve its search engine and other platform features. In exchange, Google requests Reddit to provide platform data to assist in training its AI models.
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I hope they don't take the old Tieba route due to profit pressure after going public.
BYD Yangwang U9 Supercar Launched: 0-100 km/h in 2.36 Seconds / Top Speed Nearly 310 km/h, Priced at 1.68 Million Yuan#
BYD's luxury brand Yangwang's second product — the "Million-Level Pure Electric Performance Supercar" Yangwang U9 was officially launched on the evening of February 25, priced at 1.68 million yuan. The car measures 4966x2029x1295/1338mm in length, width, and height, with a wheelbase of 2900mm. It comes standard with a carbon fiber roof and rear diffuser, with an optional electric rear wing. The new car offers three color options: Moonlight Silver, Argyle Purple, and Crimson Red.
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Just watch the reviews on Bilibili.
Hanwang Clear 6 E-Book Available: 6-Inch Black and White E Ink Screen, 3000 mAh Battery, Launch Price 699 Yuan#
The configuration feels average, and the small screen requires manual tapping to turn pages, which is quite inferior compared to a phone.
Zeekr's View on Xiaomi Cars#
Zeekr Automotive expressed respect and awe for Xiaomi Cars, as Xiaomi is a leading internet technology company with strong capabilities. "Their marketing is something we can learn from, but technically, they need to learn from us. You can look at the composition of their technical team; it is actually paying homage to us."
Haha, that's delightful to hear.
British Financier and Rothschild Banking Family Member Lord Jacob Rothschild Passes Away at 87#
Given the popularity of "Currency Wars" during my high school years, this family's legacy is quite legendary in the Chinese internet.
However, considering the sharp decline in Britain's status, one can imagine how much influence the Rothschild family, rooted in Britain, has in today's financial world.
Apple Cancels Autonomous Electric Car Project and Lays Off Some Employees#
Apple is scuttling its secretive, long-running effort to build an autonomous electric car, executives announced in a short meeting with the team Tuesday morning. The company is likely cutting hundreds of employees from the team and all work on the project has stopped, TechCrunch has learned.
On Tuesday morning, executives announced in a brief meeting with the team that Apple is abandoning its secretive, long-term autonomous electric vehicle manufacturing plan. TechCrunch learned that the company may cut hundreds of employees from the team, and all work on the project has ceased.
Some remaining employees will be shifted to Apple’s generative AI projects, according to Bloomberg, which first reported the project’s cancellation. Others will have 90 days to find a reassignment to other roles inside the company, or they will be let go. The car project still had around 1,400 employees working on it, according to one employee who was granted anonymity because they were not authorized to speak about their work.
According to Bloomberg, some remaining employees will be transferred to Apple’s generative AI projects, which were the first to be canceled. Others will have 90 days to be reassigned to other positions within the company, or they will be laid off. An employee who wished to remain anonymous due to lack of authorization to discuss their work revealed that around 1,400 employees were still involved in the car project.
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Perhaps they only want to focus on profitable businesses, which led to the inability to land?
Cai Chongxin: E-commerce is the Richest AI Scenario#
Alibaba Group Chairman Cai Chongxin stated that Alibaba will focus on e-commerce and cloud. E-commerce is the richest application scenario for AI, and Alibaba is increasing its investment in related technologies.
For example, efforts are being made to enhance user purchase frequency and order volume through more precise supply-demand matching.
As chairman, Cai Chongxin believes the most important thing is to have a strong management team in place to inject new vitality into management and new confidence into employees.
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Imagine if we could understand the products users want through natural language, would the product names, descriptions, and images be more numerous and complex than now, increasing the cognitive cost of understanding the products?
Baidu Financial Report: Q4 2023 Total Revenue of 35 Billion Yuan, Year-on-Year Growth of 6%#
Baidu announced its financial report for the fourth quarter and the whole year of 2023, with total revenue of 134.598 billion yuan for the year, and a net profit of 28.7 billion yuan under non-GAAP, a year-on-year increase of 39%. The report shows that Baidu's total revenue for the fourth quarter of 2023 was 35 billion yuan, a year-on-year increase of 6%; the operating profit under non-GAAP was 7.1 billion yuan. Baidu's core revenue was 27.5 billion yuan, a year-on-year increase of 7%; online marketing revenue was 19.2 billion yuan, a year-on-year increase of 6%; while non-online marketing revenue was 8.3 billion yuan, a year-on-year increase of 9%.
For the entire year of 2023, Baidu's total revenue was 134.6 billion yuan, a year-on-year increase of 9%, of which iQIYI's revenue was 31.9 billion yuan; net profit under non-GAAP was 28.7 billion yuan, a year-on-year increase of 39%.
Baidu founder, chairman, and CEO Robin Li stated that in 2023, we made significant progress in iterating the Wenxin large model and Wenxin Yiyan, reconstructing products and services, and commercialization.
At the same time, Baidu's core business remains resilient and healthy. Looking ahead, we will continue to firmly invest in generative AI and foundational models to lay the groundwork for creating new growth engines.
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Looks good? I wonder how it will be at year-end.
Bitcoin Surpasses $60,000. Cryptocurrency Approaches Record Levels, Prices May Continue to Rise as "Halving" Event Approaches.#
Bitcoin keeps soaring and surpassed $60,000 on Wednesday for the first time since 2021. The cryptocurrency has rallied all week, jumping more than 15% in just four days to $61,074 late Wednesday morning.
Bitcoin continues to soar, surpassing $60,000 on Wednesday for the first time since 2021. This cryptocurrency has been rising all week, increasing by more than 15% in just four days, reaching $61,074 late Wednesday morning.
Since the start of the year, bitcoin has gained more than 40% due to renewed interest in the digital currency after the U.S. approved the first bitcoin spot ETFs. This enabled investors to get into the Bitcoin game without all the risk of directly investing in the still controversial currency.
Since the beginning of this year, bitcoin has risen more than 40% due to renewed interest in this digital currency after the U.S. approved the first bitcoin spot ETFs. This allows investors to enter the Bitcoin market without taking on all the risks of directly investing in this still controversial currency.
Meanwhile, a technical event called "halving," which restricts the mining of new bitcoins, is approaching in April and will likely keep bitcoin prices rising. The cryptocurrency is now less than $8,000 away from breaking its all-time high of $68,999.
Meanwhile, a technical event known as "halving" is approaching in April, which will limit the mining of new bitcoins, likely causing bitcoin prices to continue rising. The cryptocurrency is now less than $8,000 away from breaking its all-time high of $68,999.
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Bitcoin is back; when it hit its peak, I played for a while, lost a thousand, and got nothing back.
Israel-Gaza War | Joe Biden States He Believes a New Temporary Ceasefire Between Israel and Hamas is Possible by Next Monday.#
Joe Biden has said he believes a new, temporary ceasefire in Gaza is possible by next Monday, as Hamas was reportedly considering a draft agreement for a 40-day pause in fighting and the exchange of dozens of Israeli hostages for hundreds of Palestinian prisoners, according to a Reuters source.
Joe Biden stated that he believes a new temporary ceasefire in Gaza is possible by next Monday, as Hamas is reportedly considering a draft agreement for a 40-day pause in fighting and the exchange of dozens of Israeli hostages for hundreds of Palestinian prisoners, according to a Reuters source.
"My national security adviser tells me that we’re close. We’re close. We’re not done yet," Biden told reporters during a visit to New York on Monday after taping an appearance on NBC’s Late Night with Seth Meyers. "My hope is by next Monday, we’ll have a ceasefire."
"My national security adviser tells me that we are close. We are close. We are not done yet," Biden told reporters during a visit to New York on Monday after recording an appearance on NBC's Late Night with Seth Meyers. "I hope that by next Monday, we will have a ceasefire."
During the Meyers interview, Biden also said Israel would be willing to temporarily halt its war during the upcoming Muslim fasting month of Ramadan if a deal is reached to release some of the hostages. "Ramadan’s coming up and there has been an agreement by the Israelis that they would not engage in activities during Ramadan as well, in order to give us time to get all the hostages out," Biden said.
During the Meyers interview, Biden also stated that Israel would be willing to temporarily halt its war during the upcoming Muslim fasting month of Ramadan if a deal is reached to release some hostages. "Ramadan is coming up, and the Israelis have agreed that they will not engage in activities during Ramadan as well, to give us time to get all the hostages out," Biden said.
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Notably, a few days ago, the UN's resolution on Israel-Palestine was once again opposed by the U.S., followed closely by the U.K. abstaining.
Alibaba Cloud Cuts Prices on Hundreds of Products, Average Reduction of 20%#
On February 29, Alibaba Cloud announced that it would comprehensively adjust the prices of its core products, covering more than 100 products and over 500 product specifications, with an average reduction of 20%, and some even as high as 55%. This includes areas such as computing, storage, and databases, with the new pricing system taking effect immediately. For example, the eighth-generation ECS cloud server, which used to cost 1,896 yuan per year, is now available for just 1,450 yuan!
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Alibaba Cloud's position in the public cloud should still be relatively stable, but hybrid cloud has been greatly impacted by Huawei.
Everything Can Run Doom, This Time It's a Smart Toothbrush#
[Source](https://www.ithome.com/0/752/950.htm) > That's so interesting.Musk Sues OpenAI and CEO Altman, Demanding Return to Open Source#
Elon Musk’s lawsuit against OpenAI and Sam Altman centers on the alleged betrayal of their founding principles. Musk, in a recent filing, contends that the company’s recent partnership with Microsoft has veered it off course from its initial goal of promoting open-source artificial general intelligence (AGI) for the greater good.
Elon Musk's lawsuit against OpenAI and Sam Altman focuses on the alleged betrayal of their founding principles. Musk claims in a recent filing that the company's recent partnership with Microsoft has diverted it from its original goal of promoting open-source artificial general intelligence (AGI) for the greater good.
In addition, he accuses OpenAI of transforming into a closed-source entity driven by profit, rather than advancing technology for humanity’s benefit. Notably, this recent development has sparked discussions in the artificial intelligence (AI) sector, especially amid the growing demand for AI services globally.
Additionally, he accuses OpenAI of becoming a closed-source entity driven by profit rather than advancing technology for the benefit of humanity. This recent development has notably sparked discussions in the AI sector, especially given the increasing demand for AI services worldwide.
Meanwhile, Musk’s lawsuit, filed in San Francisco Superior Court, outlines several grievances, including breach of contract, breach of fiduciary duty, and unfair business practices. Besides, he demands that OpenAI revert to its open-source ethos and seeks an injunction to prevent the exploitation of AGI technology for profit.
Meanwhile, Musk's lawsuit, filed in San Francisco Superior Court, outlines several grievances, including breach of contract, breach of fiduciary duty, and unfair business practices. He also demands that OpenAI return to its open-source ethos and seeks an injunction to prevent the exploitation of AGI technology for profit.
According to Musk, the release of GPT-4 in March 2023 marked a significant departure from OpenAI’s principles. Despite being touted as a milestone in AI advancement, GPT-4 remains a closed model, contrary to previous iterations. Musk alleges that this shift towards proprietary technology serves Microsoft’s financial interests, undermining the original intent of OpenAI’s non-profit status.
Musk claims that the release of GPT-4 in March 2023 marked a significant departure from OpenAI's principles. Although it is hailed as a milestone in AI advancement, GPT-4 remains a closed model, unlike previous iterations. Musk alleges that this shift towards proprietary technology serves Microsoft's financial interests, undermining the original intent of OpenAI's non-profit status.
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Most of the major models are open-source, while the most famous OpenAI is closed-source.
You can refer to the article below: Google Researcher: "Our AI Has No Moat, and Neither Does OpenAI"
Putin: The West Will Face Real Risks of Nuclear War if It Escalates the Russia-Ukraine Conflict#
Russian President Vladimir Putin warned the West in his annual address that if Western countries escalate the Russia-Ukraine conflict, they will face the real risk of nuclear war.
According to AFP, Putin delivered his annual state of the nation address to domestic political elites on Thursday (February 29), stating that Russian soldiers are advancing in Ukraine and warning the West that any country daring to send troops to Ukraine will face dire consequences. "They should ultimately realize that we also have weapons capable of striking targets within their territory. Everything the West proposes poses a real threat of nuclear conflict, which could destroy civilization."
French President Emmanuel Macron said earlier this week that sending ground troops to Ukraine should not be ruled out to achieve Europe's goal of defeating Russia. This statement was immediately opposed by other European leaders.
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France is just making noise or trying to strengthen its military capabilities to increase its influence over NATO.
📚 Articles#
HiPhi Stalled, No Shortcut for High-End Electric Cars | Deep Tech Lite#
AI Summary#
HiPhi Motors is a new car brand positioned in the ultra-high-end market, founded by Ding Lei, a "godfather" figure in the automotive industry. HiPhi Motors does not cling to the mainstream market but chooses the luxury supply chain camp, combined with flamboyant design, targeting the 600,000 to 800,000 yuan market. Although resource investment is limited, HiPhi Motors has made a name for itself in the high-end market. However, HiPhi Motors faces product rhythm disconnection and funding crises, needing to seek investment or acquisition.
Key Points:
HiPhi Motors is a new car brand positioned in the ultra-high-end market, focusing on the luxury supply chain camp and flamboyant design.
HiPhi Motors has made a name for itself in the high-end market but faces product rhythm disconnection and funding crises.
HiPhi Motors needs to seek investment or acquisition to save the company.
HiPhi Motors faces market competition and funding pressure, needing to reassess its market positioning and development strategy.
Excerpts#
Excerpt One#
In the view of a HiPhi Motors employee, the HiPhi X successfully shaped the high-end brand image for HiPhi Motors. He revealed that because HiPhi Motors and NIO have similar positioning, the latter often poaches talent from HiPhi Motors.
However, some employees believe that luxurious hardware configurations cannot form a core competitive advantage. One HiPhi Motors employee stated that the level of vehicle networking in their products is relatively outdated, and the functional interaction is very basic, failing to meet automotive-grade interaction requirements.
To solidify its high-end positioning, in August 2022, HiPhi launched its second flagship model, the HiPhi Z, featuring a mecha-style design, self-developed vehicle machine, and intelligent driving system, with prices still high, ranging from 610,000 to 630,000 yuan.
Excerpt Two#
"The biggest problem with the company lies in the senior leadership," more than one employee told 36Kr.
The management team of HiPhi Motors is generally divided into three levels: CEO Ding Lei, the Executive Committee (Excom), and first-level department heads (DH). The Executive Committee consists of more than ten VPs who manage finance, human resources, legal affairs, product planning, engineering, design, supply chain, and other departments, reporting to Ding Lei. More than ten first-level department heads manage second and third-level departments, reporting to VPs or Ding Lei.
Several HiPhi Motors employees stated that although decisions are made collectively by more than ten people, in reality, only Ding Lei makes the final call, and the Excom members, who all come from traditional automotive backgrounds, find it difficult to provide constructive opinions.
"There is no benchmarking culture within the company. When a new car appears on the market, the heads of various modules should understand its product and functional definitions immediately, but the Excom members mostly observe fuel vehicles as competitors," said a mid-level employee at HiPhi Motors.
However, Ding Lei, who holds decision-making power, has a relatively narrow information-gathering channel. The aforementioned individual told 36Kr that Ding Lei's industry information is primarily obtained through his assistant, and many detailed matters are also pushed to completion by the assistant. This somewhat limits Ding Lei's understanding of the market environment and trend judgments.
In contrast, within Li Auto, the CEO office organized under Li Xiang includes brand, product, business, strategy, and supply departments, with about 500 people. They form the central brain of Li Auto, ensuring sufficient information flow.
Excerpt Three#
An investor stated that the current competition in the new energy vehicle market is fierce, and car companies need to have scale effects or form differentiated advantages to meet certain investor demands; otherwise, it is difficult to obtain investment.
In 2023, NIO also found itself in a precarious situation due to funding shortages, but it secured approximately $3.3 billion in investments from the Abu Dhabi sovereign fund twice within a year, allowing it to survive. Additionally, Leap Motor, which has a relatively small market presence, received a €1.5 billion investment from Stellantis last year.
"This is because NIO's high-end brand image is already solid, and it has certain advantages in battery swap system construction and user services. Leap Motor has developed a centralized integrated electronic and electrical architecture, which Stellantis can leverage to accelerate the launch of electric vehicles in overseas markets."
However, when it comes to HiPhi Motors' core value, outsiders find it difficult to draw conclusions, and even employees cannot answer immediately. "HiPhi has shaped a high-end brand image through innovative product designs like the wing doors and unique luxury configurations, but it has almost no core technology," said a HiPhi Motors employee.
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Lacking core value, the high-end is in the interior and appearance, not in the architecture or driving experience like the BYD U8.
My Week of Zen Meditation in a Temple#
AI Summary#
This article documents the author's experience of a week of Zen meditation in a temple, including a reunion with the abbot, life in the temple, the evening study process, and nighttime rest. The author shares insights gained from this experience and their understanding of Buddhism.
Key Points:
The author went to the Tongtang Temple in their hometown for Zen meditation and reunited with Abbot Mingyuan.
Life in the temple is simple and austere; the author experienced vegetarian meals and communal chopstick usage.
The author participated in evening study, observed Buddhist rituals and scripture recitation, and gained a deeper understanding of Buddhist teachings.
The nights in the temple are quiet, without air conditioning or heating, but the author gradually adapted and experienced a different lifestyle from the city.
The author expressed admiration for Abbot Mingyuan's achievements in practice and gained a deeper understanding and insight into Buddhist teachings.
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I remember that in my childhood, a temple was built on a small bamboo hill near my village, and an abbot was invited from a large temple nearby.
One year during the New Year, my cousin and I watched a little monk chant scriptures late at night on an open platform surrounded by bamboo groves, with only a small candlelight, which was quite eerie; we watched for a while and then got scared and went back.
Google Researcher: "Our AI Has No Moat, and Neither Does OpenAI"#
Read the original text.
Although the article emphasizes the importance of open source and small, fast models, I feel that only giants will remain in this industry; computing power and data are the core.
🎞️ Life#
Dressing Guide#
I watched a video teaching how to dress.
Best coat length = height ✖️ 0.41
To appear taller -2cm
Casual sports +2cm
Shoulder width +2-5cm
Black leather looks fair; wear royal blue, dark gray, navy, dark green.
In one scene, when she was crying while climbing the stairs home in heavy rain, I told my girlfriend that there must be a twist, that Lei Jiayin might need money for himself or his family due to illness, or that his cousin was misled and then struggled to be fired; after all, it was the Spring Festival release, but I didn't expect to be slapped in the face, haha.
💭 Snippets#
Personal income tax can be declared.
I tried to fill out a form for supporting elderly parents and found that if it’s (maternal) grandparents, they need to have no direct descendants... well, I give up.
I heard that you can buy a nutritionist certificate like this, fill it in as continuing education, and you can break even in a year.