Signal Wall
Articles, memos, builds, and signals.
零点击广告：效率至上如何把用户变成雇佣兵载体
广告平台在追求效率的同时，忽视了安全风险，导致零点击广告成为潜在的安全威胁。
软件外包公司软通动力，成本里原材料第一次超过了人工
软通动力今年上半年的营业成本里，原材料占 50.0%，职工薪酬 45.9%，花在东西上的钱第一次超过了花在人上的钱。这家靠程序员起家、曾经一半收入来自华为的外包公司，2024 年买下同方计算机和机械革命开始卖电脑，现在又在建工厂造 AI 服务器。营收从 130 亿翻到 351 亿，净利润却从 12.55 亿掉到 2.06 亿；上半年存货多了 30 亿、短期借款多了 34 亿，研发投入却少了 14.5%。一家卖人的公司变成卖货的公司，代价先写在资产负债表上。
亚马逊如何通过数据垄断推高网络价格
亚马逊通过数据垄断和算法操纵，推高了网络价格，损害了消费者和卖家利益。
浪潮前三季度利润翻倍，第三季度却比上一季少赚一半多
浪潮信息前三季度净利润预增 156% 到 177%，算下来三季度单季比二季度少赚 51% 到 64%。二季度一季赚了 23.47 亿，差不多等于去年一整年，毛利率冲到 10.28%。利润跟着内存价格走：涨价最猛时毛利率最高，涨价放缓就回落。同一波涨价，英伟达毛利率被压，浪潮被抬。半年报里，浪潮借了 112 亿短债，多囤了 193 亿原材料，这是一次押零件价格的押注。文末给出三季报可以检验的三个数。
Apple HomeView：重塑家庭智能中心的未来
Apple HomeView通过本地计算和隐私保护，重塑了家庭智能中心的未来。
iFlytek's half-year revenue of 11.6 billion yuan is still losing money: it is using education money to support a big model
iFlytek's revenue in the first half of the year was 11.6 billion yuan, with a parent loss of 204 million yuan and a non-deduction loss of 637 million yuan. Losses in the first half of the year are an old rule. What is worth watching is the structure of the accounts: for every 100 yuan of income, R & D spent 21.8 yuan, more than sales; for the first time, the income from open platforms exceeded that of education, but the gross profit was only 40% of that of education. Compared with Intelligent Spectrum and MiniMax, the industry-wide gross profit of selling models is around 20%. iFlytek's ability to make profits throughout the year relies on educating these old businesses. The problem is that the old business is slowing down. The computing power bill in R & D has doubled every year. The fixed increase of 4 billion yuan has 60% of the investment power, and there is still 21.7 billion yuan receivable on the account. At the end of the article, three numbers that can be tested in the three quarterly reports are given.
The micro server hidden behind Codex
Turn user machines into low-cost cloud nodes to collect hidden service fees
AI companies are starting to build their own mobile phones, and their 24-hour computing power accounts will be transferred to you.
Qualcomm CEO Ammon revealed that some AI companies require mobile phones to be able to permanently run hundreds of billions of parameter models in 2028, and other AI companies have begun to make their own mobile phones. Even if the 100 billion parameter is pressed to 4 bits, it requires 50GB of memory. Nowadays, the mainstream for high-end machines is 12GB. Why do you have to put it on your mobile phone and keep running? One account: The agent resident in the cloud burns the computing power of the AI company every minute, and when placed on the mobile phone, it becomes a one-time payment when you buy the phone. One ticket: Agents must have system permissions to operate applications. Doubao mobile phones have demonstrated it last year, and system permissions are only the first door. Coupled with the increase in memory prices, who will the money be ultimately blamed?