判断平台是否完成了可持续转型，可以通过一组剪刀差指标观察：一端是单位交易变现率的变化，另一端是供给侧的满意度指标，例如留存率或净推荐值。如果变现率持续上升，而供给侧满意度同步下滑，这种赚钱方式本质上仍是竭泽而渔。只有当两者同时改善，平台的转型才具备长期稳定性。
When you overload a credential used for authentication by also using it for encryption, the “blast radius” for losing that credential becomes immeasurably larger.
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"The first time there's any type of struggle, the immediate thought is, 'well, I thought you were my soulmate. But maybe you're not, because soulmates aren't supposed to deal with things'," he says. "But if relationships are going to go long term, it's never just going to be a downhill run."
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华为 2025 年销售收入超 8800 亿元、鸿蒙设备破 4000 万