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Google issuing 100-year corporate bonds is a good thing. Although the market is wary of CapEx issues, as I said a few months ago, as long as the spread between these corporate bonds and government bonds doesn't narrow, it shows that tech companies are still investing heavily in AI. The most important reason Manus was able to sell, as Ji Yichao mentioned, is that they discovered this is manufacturing. In manufacturing, all the equipment is bought, and then canned peaches are processed into peaches and sold to consumers. Future internet companies will be similar, except some will make canned peaches, some will buy pork and starch to make sausages, and some will buy soybeans to make soy milk. This is the new industrial revolution. The overall profit margins of internet companies will decrease, and even large-scale companies will see a decline, but it will benefit consumers with more user-friendly AI.

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