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AB Kuai Dong

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2016 年入行从业,专栏作家,兴趣内容分享和研究,现居东京。
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6.9 Years
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I am very glad to meet CZ in Tokyo. This is his return to Japan after 7 years, and during this time, the entire industry has undergone tremendous changes. At this event, I asked CZ a question: How do you view the on-chain of everything and the tokenization of stocks? He replied: There have not yet been large-scale coin-stock products on the market. The possible reason is that each country and region has different policies, making it difficult for coin-stock investors to receive dividends and easily redeem stocks. There are also price differences during trading. However, projects on the chain are usually global in nature, which was a significant pain point back then. Restrict areas or try to solve it? But he reiterated that the trend of RWA cannot be stopped. $BNB
I am very glad to meet CZ in Tokyo. This is his return to Japan after 7 years, and during this time, the entire industry has undergone tremendous changes.

At this event, I asked CZ a question: How do you view the on-chain of everything and the tokenization of stocks?

He replied: There have not yet been large-scale coin-stock products on the market. The possible reason is that each country and region has different policies, making it difficult for coin-stock investors to receive dividends and easily redeem stocks. There are also price differences during trading. However, projects on the chain are usually global in nature, which was a significant pain point back then.

Restrict areas or try to solve it?

But he reiterated that the trend of RWA cannot be stopped. $BNB
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An 8-year veteran practitioner tells you: How to spend the industry's garbage timeThe market has gradually become quiet recently. Many colleagues have expressed that they can’t see the direction clearly or are forced to be friends with time. This is actually not the first time. Looking back, since I entered the circle in 2016, I seem to have experienced four major garbage cycles. Although I often comfort myself in my heart that all this will pass, the positive cycle will come back, and liquidity will come back, but when we are really in the garbage time, we will feel more or less depressed or helpless. Winter in Zhongguancun. The first garbage time was when I entered the circle. At that time, the industry had just shifted from the cold winter of 2015 to the recovery period of 2016. OKCoin and Huobi, located in Zhongguancun, also stopped layoffs. The market was gradually recovering, and exchanges finally had positive income.

An 8-year veteran practitioner tells you: How to spend the industry's garbage time

The market has gradually become quiet recently. Many colleagues have expressed that they can’t see the direction clearly or are forced to be friends with time. This is actually not the first time.

Looking back, since I entered the circle in 2016, I seem to have experienced four major garbage cycles. Although I often comfort myself in my heart that all this will pass, the positive cycle will come back, and liquidity will come back, but when we are really in the garbage time, we will feel more or less depressed or helpless.

Winter in Zhongguancun.

The first garbage time was when I entered the circle. At that time, the industry had just shifted from the cold winter of 2015 to the recovery period of 2016. OKCoin and Huobi, located in Zhongguancun, also stopped layoffs. The market was gradually recovering, and exchanges finally had positive income.
Didn’t expect Gaode Maps to blow up in Taiwan Looks like lane-level navigation and showing traffic light countdowns are pretty useful.
Didn’t expect Gaode Maps to blow up in Taiwan

Looks like lane-level navigation and showing traffic light countdowns are pretty useful.
The Trump Gold Card might be going belly up. Previously hailed by Trump, the $1 million investment for the Trump Gold Card, which promised U.S. permanent residency, is now facing a major chill. According to the Secretary of Commerce, during a congressional hearing yesterday, only 1 person has been approved since the card's launch, while hundreds of others are left in the queue waiting for review. This is inconsistent with the previous claims of selling thousands of these cards. The card was launched in 2025, after Trump took office. Individual investors need to fork over $15,000 for the Department of Homeland Security review fee, and after a government review of personal information, donate $1 million. This will supposedly allow them to obtain the Trump Gold Card in a quick turnaround, which is officially explained as equivalent to U.S. permanent residency. However, many are skeptical about the card's validity after Trump leaves office, which could ultimately make that $1 million go down the drain.
The Trump Gold Card might be going belly up.

Previously hailed by Trump, the $1 million investment for the Trump Gold Card, which promised U.S. permanent residency, is now facing a major chill.

According to the Secretary of Commerce, during a congressional hearing yesterday, only 1 person has been approved since the card's launch, while hundreds of others are left in the queue waiting for review.

This is inconsistent with the previous claims of selling thousands of these cards.

The card was launched in 2025, after Trump took office. Individual investors need to fork over $15,000 for the Department of Homeland Security review fee, and after a government review of personal information, donate $1 million. This will supposedly allow them to obtain the Trump Gold Card in a quick turnaround, which is officially explained as equivalent to U.S. permanent residency.

However, many are skeptical about the card's validity after Trump leaves office, which could ultimately make that $1 million go down the drain.
It feels like Xiaomi has totally poached the entire BMW design team. Sorry, but the offers they're throwing around are just too high.
It feels like Xiaomi has totally poached the entire BMW design team.

Sorry, but the offers they're throwing around are just too high.
Is Trump really gonna have that main character glow? Right before the elections, he nearly got shot, and boom, his support rate flipped to the top. Now, with the midterms coming up, there's another shooting nearby, and the shooter turns out to be a dude who donated to the Dems' Harris...
Is Trump really gonna have that main character glow?

Right before the elections, he nearly got shot, and boom, his support rate flipped to the top.

Now, with the midterms coming up, there's another shooting nearby, and the shooter turns out to be a dude who donated to the Dems' Harris...
Looks like the bro is really anxious; Trump just tweeted on his own platform that he has ordered the US military to fire on any ships laying mines in the Strait of Hormuz. At the same time, he's sending out minesweepers at three times the current scale to clear the strait and ensure it gets back to normal as soon as possible.
Looks like the bro is really anxious; Trump just tweeted on his own platform that he has ordered the US military to fire on any ships laying mines in the Strait of Hormuz.

At the same time, he's sending out minesweepers at three times the current scale to clear the strait and ensure it gets back to normal as soon as possible.
Cook said that his biggest blunder during his tenure was Apple Maps. As he prepares to step down as CEO of Apple in September, Cook admitted at the conference that the biggest mistake of his term was the rushed launch of Apple Maps. User feedback and media reports at the time revealed serious functional flaws in this mapping app, such as disappearing buildings and frequent location errors. This also led to the departure of Scott Forstall, who was a key player under Jobs and at that time the head of Apple's software division, as he bore the main responsibility for Apple Maps. However, when talking about his proudest achievement, it was surprisingly the Apple Watch; he was deeply moved by the first user email he received stating that the Apple Watch saved their life. So he believes this is the best product of his tenure.
Cook said that his biggest blunder during his tenure was Apple Maps.

As he prepares to step down as CEO of Apple in September, Cook admitted at the conference that the biggest mistake of his term was the rushed launch of Apple Maps.

User feedback and media reports at the time revealed serious functional flaws in this mapping app, such as disappearing buildings and frequent location errors.

This also led to the departure of Scott Forstall, who was a key player under Jobs and at that time the head of Apple's software division, as he bore the main responsibility for Apple Maps.

However, when talking about his proudest achievement, it was surprisingly the Apple Watch; he was deeply moved by the first user email he received stating that the Apple Watch saved their life. So he believes this is the best product of his tenure.
The influencer you like might be a fake. An Indian guy claims he scammed a bunch of conservative patriots out of thousands of dollars using a bogus AI influencer named Emily Hart. He crafted her daily persona to resonate with folks by portraying her as a Bible-loving, fishing, beer enthusiast. In the end, the donations from these supporters helped him cover his med school tuition. And the Ins algorithm keeps boosting his fake content daily; he even tried creating another version but didn't hit the jackpot.
The influencer you like might be a fake.

An Indian guy claims he scammed a bunch of conservative patriots out of thousands of dollars using a bogus AI influencer named Emily Hart.

He crafted her daily persona to resonate with folks by portraying her as a Bible-loving, fishing, beer enthusiast.

In the end, the donations from these supporters helped him cover his med school tuition.

And the Ins algorithm keeps boosting his fake content daily; he even tried creating another version but didn't hit the jackpot.
Done, totally got hooked by GPT image 2.0 Expect a massive wave of unemployment hitting the design, image, and photography sectors soon.
Done, totally got hooked by GPT image 2.0

Expect a massive wave of unemployment hitting the design, image, and photography sectors soon.
When you're feeling the grind at work and the pressure's piling up, just check out the Pinduoduo legal team. The battles never end, it's like a never-ending short.
When you're feeling the grind at work and the pressure's piling up, just check out the Pinduoduo legal team.

The battles never end, it's like a never-ending short.
After a long wait, Tesla China has finally rolled out its in-car voice service. It's been revealed that they've integrated ByteDance's Volcano Engine API, with AI services provided by Doubao and DeepSeek. The international version is known as Grok.
After a long wait, Tesla China has finally rolled out its in-car voice service.

It's been revealed that they've integrated ByteDance's Volcano Engine API, with AI services provided by Doubao and DeepSeek.

The international version is known as Grok.
You can tell Tencent is getting pretty anxious with this move. Recently, there's been a wave of employees from the Yuanbao AI team airing their grievances on Maimai. They've been grinding late into the night, pulling 14-hour shifts every day, plus meetings.
You can tell Tencent is getting pretty anxious with this move.

Recently, there's been a wave of employees from the Yuanbao AI team airing their grievances on Maimai.

They've been grinding late into the night, pulling 14-hour shifts every day, plus meetings.
Behind Tencent's anxiety, Byte's Doubao monthly active users are 6 times that of Tencent's Yuanbao. From Baidu's search back in the day to the ask-and-answer Doubao.
Behind Tencent's anxiety, Byte's Doubao monthly active users are 6 times that of Tencent's Yuanbao.

From Baidu's search back in the day to the ask-and-answer Doubao.
The FTX founder was accused of siphoning off user assets amounting to $16 billion, and if that hadn't gone down, FTX wouldn't have filed for bankruptcy. Now, let's break down their external investment portfolio returns: Anthropic: $82.3 billion (about 165x) SpaceX: $15 billion (about 75x) Robinhood: $4.9 billion (about 8x) Cursor: $3 billion (about 15,000x) Genesis Digital Assets: $3.5 billion (about 3x) That's a total value of over $100 billion. Unfortunately, there are no 'what ifs' in this game; misappropriating user funds is definitely the original sin.
The FTX founder was accused of siphoning off user assets amounting to $16 billion, and if that hadn't gone down, FTX wouldn't have filed for bankruptcy.

Now, let's break down their external investment portfolio returns:
Anthropic: $82.3 billion (about 165x)
SpaceX: $15 billion (about 75x)
Robinhood: $4.9 billion (about 8x)
Cursor: $3 billion (about 15,000x)
Genesis Digital Assets: $3.5 billion (about 3x)

That's a total value of over $100 billion.

Unfortunately, there are no 'what ifs' in this game; misappropriating user funds is definitely the original sin.
Wow, that was insane!\n\nThere’s this guy who, using a hairdryer, hopped over a fence at the Paris airport runway and blew hot air at the meteorological agency's temperature sensor, messing with the betting results on the prediction market Polymarket regarding the weather temperature.\n\nHe first bought a low-priced outcome on the prediction market that hardly anyone believed in. While everyone thought it would be 18 degrees, he went for 22 degrees.\n\nThe market thought such extreme weather was impossible.\n\nThen he just walked right up to the sensor with a portable heating device, like a hairdryer. He heated the surrounding air for a short time, instantly pushing the reading up to his target temperature, which was recorded as the highest temperature of the day.\n\nA few minutes later, the temperature returned to normal, but the market had already settled based on that peak, and he ended up winning.\n\nThe kicker is, he actually succeeded twice before the French meteorological agency caught on and reported him.
Wow, that was insane!\n\nThere’s this guy who, using a hairdryer, hopped over a fence at the Paris airport runway and blew hot air at the meteorological agency's temperature sensor, messing with the betting results on the prediction market Polymarket regarding the weather temperature.\n\nHe first bought a low-priced outcome on the prediction market that hardly anyone believed in. While everyone thought it would be 18 degrees, he went for 22 degrees.\n\nThe market thought such extreme weather was impossible.\n\nThen he just walked right up to the sensor with a portable heating device, like a hairdryer. He heated the surrounding air for a short time, instantly pushing the reading up to his target temperature, which was recorded as the highest temperature of the day.\n\nA few minutes later, the temperature returned to normal, but the market had already settled based on that peak, and he ended up winning.\n\nThe kicker is, he actually succeeded twice before the French meteorological agency caught on and reported him.
It's going wild, it's going wild. Fed GPT a few Binance page snapshots and a couple of photos of the co-founders, letting it get a feel for the current popular anime vibe. Then, in less than a minute, two promotional posters popped up.
It's going wild, it's going wild.

Fed GPT a few Binance page snapshots and a couple of photos of the co-founders, letting it get a feel for the current popular anime vibe.

Then, in less than a minute, two promotional posters popped up.
Masayoshi Son has lost his mind. The SoftBank consortium has been reported to be pledging shares of OpenAI, the parent company of ChatGPT, to secure a $10 billion loan, continuing to bet big on AI investments. Currently, this 2-year margin loan comes with an option that allows SoftBank to extend the borrowing period into the 3rd year. However, back in March, they just wrapped up a $40 billion bridge loan, getting ready to ride or die with this AI wave.
Masayoshi Son has lost his mind.

The SoftBank consortium has been reported to be pledging shares of OpenAI, the parent company of ChatGPT, to secure a $10 billion loan, continuing to bet big on AI investments.

Currently, this 2-year margin loan comes with an option that allows SoftBank to extend the borrowing period into the 3rd year. However, back in March, they just wrapped up a $40 billion bridge loan, getting ready to ride or die with this AI wave.
New college freshmen in the United States are reluctant to study computer science. The latest data confirms that under the wave of AI, the number of freshmen in computer-related majors is experiencing the largest decline since 2003 to 2008. In contrast, the number of applicants for engineering majors has surged, with mechanical engineering and electrical engineering becoming increasingly popular. These are actually the talents most needed in the AI era, as a large number of data centers and power infrastructure have led to an explosive demand for talent. The following data comes from the U.S. Student Information Center, and the translation is noted afterwards.
New college freshmen in the United States are reluctant to study computer science.

The latest data confirms that under the wave of AI, the number of freshmen in computer-related majors is experiencing the largest decline since 2003 to 2008.

In contrast, the number of applicants for engineering majors has surged, with mechanical engineering and electrical engineering becoming increasingly popular. These are actually the talents most needed in the AI era, as a large number of data centers and power infrastructure have led to an explosive demand for talent.

The following data comes from the U.S. Student Information Center, and the translation is noted afterwards.
After 27 years, the foreign company Starbucks will change from a direct operation model to a franchise model. Currently, social media has exposed its franchise fees in 9 provinces of China, with a single store investment requiring about 1,100,000 to 1,300,000 RMB, followed by a revenue sharing of 3 - 5%. It is roughly about 2 times the franchise cost of the neighboring Luckin.
After 27 years, the foreign company Starbucks will change from a direct operation model to a franchise model. Currently, social media has exposed its franchise fees in 9 provinces of China, with a single store investment requiring about 1,100,000 to 1,300,000 RMB, followed by a revenue sharing of 3 - 5%.

It is roughly about 2 times the franchise cost of the neighboring Luckin.
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