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穿越牛熊的数据派交易员|运营老炮|Web3创业OG|币安广场创作者,奉行周期大于一切,关注真正影响投资决策的信息
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链研社
Behind China's new AI is also a game of connections and founders, determining 80% of a company's success or failure. It's been discovered that Alibaba has invested in half of China's AI sector. 1. MiniMax (Overseas Expansion + Hit Apps) - Business Model: Model + Hit Apps, Top Tier Audio/Video Developer - Founders: Yan Junjie, former Vice President and Product Manager at SenseTime; Zhang Qianchuan, former Product Manager at ByteDance (parent company of TikTok). - Investors: Alibaba (largest external shareholder), Tencent, Hillhouse Capital (lead investor in the first round), Sequoia China, etc. - Hidden Backing: Liu Wei (Dawei Ge), a key early investor in miHoYo, currently serves as a non-executive director of MiniMax. miHoYo not only provided funding but also a large amount of game scenario testing data, allowing MiniMax to stand out in multimodal interaction and role-playing capabilities. 2. The Dark Side of the Moon (C-end Traffic + Long Text) - Business Model: Kimi AI Assistant, focusing on office and programming. Subscription Model - Founder: Yang Zhilin, a graduate of Tsinghua University's Yao Class, previously worked at Google and Meta, and is the designer of important architectures such as Transformer-XL and XLNet. - Investors: Alibaba (lead investor in Series A+), Meituan, Tencent, Xiaomi, Xiaohongshu, Sequoia China, ZhenFund - Hidden Backing: Alibaba holds a 30% stake, making it its core computing power and financial supporter. Zhang Yutong (former partner at GSR Ventures) brings top-tier VC vision and connections, enabling Kimi to complete rapid fundraising in 2024-2025, and its cash reserves remain the highest in 2026. 3. Zhipu AI (Academic + All-Round) - Business Model: Coding Package + MaaS (Model as a Service) + Industry Private Deployment - Founders: All Tsinghua University graduates; Zhang Peng (CEO): PhD in Computer Science from Tsinghua University; Tang Jie (Key Figure): Chief Scientist. Professor Yang Zhilin of the Department of Computer Science at Tsinghua University mentored the team at Lunar Dark Side. - Investment Institutions: Alibaba, Tencent, Meituan, Xiaomi, Ant Group, Hillhouse Capital, Sequoia China, State-owned Assets Background - Hidden Backing: Government and State-owned Assets Background; Beijing Artificial Intelligence Industry Investment Fund, Zhuhai Huafa, and Chengdu and Hangzhou State-owned Assets provided crucial assistance during the IPO period. 4. Leap Forward (Trillion-Dollar Model + Hardware-Software Integration) - Business Model: Hardware Licensing + Embodied Intelligence - Founder: Jiang Daxin, former Global Vice President of Microsoft and Chief Scientist of Microsoft Research Asia - Investment Institutions: Tencent Investment, Qiming Venture Partners, Shanghai State-owned Capital - Hidden Backing: Deep cooperation with Geely Automobile and OPPO; Megvii Technology + Qianli Technology (formerly Lifan Motors). 5. Zero One Everything (Enterprise Focus + Agent) - Business Model: Enterprise-level Agent, AI Agent Intelligent System - Founder: Kai-Fu Lee: Chairman and CEO. Chairman of Innovation Works, formerly a global vice president at Microsoft, Google, and Apple. - Investors: Alibaba, Innovation Works, Shunwei Capital - Hidden backing: Some members of the pre-trained algorithm team were acquired by Alibaba Cloud at the end of 2024.
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链研社
I just discovered that Binance's TradFi contracts offer free pending orders and a 0.02250% take-order fee. This would probably be great for grid trading (grid strategies rely on pending orders, and fees are a significant part of the transaction). Such a strategy is well-suited for the long-term, slow-moving bull market in US stocks. Now, gold, silver, and many US stocks can be traded on it. The 24-hour trading volume of gold and silver is not low, exceeding 1 billion. There are relatively few stocks, with Tesla's 24-hour trading volume at 8.37 million. With such high-quality assets available, there will be far fewer contracts and funds for altcoin trading. Altcoins will face competition from US stocks, which will give them almost no advantage. However, US stock contracts differ from holding spot assets because of funding fees, which incur costs. While stock funding fees are lower than those for BTC and ETH (less than 10%), and contracts also eliminate the benefit of dividends, they address the pain points of both the crypto and US stock markets. The crypto lacks quality assets, while the US stock market does. Conversely, while the US stock market offers quality assets, it's not a lucrative investment; US stock contracts solve this problem.
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The competition in China's AI field is essentially a competition of people; those who excel will continue to excel in their next project. 1. The two core AI teams at ByteDance, Doubao and Jimeng, are led by founders of companies acquired by ByteDance and are pioneers in building Douyin (TikTok), making them business geniuses. - Zhu Jun, head of Doubao, is the founder of Musically, the predecessor to Douyin's overseas version, which was later acquired by ByteDance. He has now made Doubao the number one platform in China, with over 100 million daily active users. One success can be a coincidence, but two successes demonstrate strength. - Zhang Nan, head of Jimeng, was the first person to build Douyin, experiencing its development from scratch. She then went to Jianying and now works at Jimeng. Her personal experience includes creating a photo-sharing community, and after being acquired by ByteDance in 2013, she was responsible for the UGC business. 2. The two core AI teams at Alibaba, Qianwen and Quark, are led by talents cultivated by Alibaba from scratch, possessing technical backgrounds. - Wu Jia, head of Quark/Qianwen C-end, joined Alibaba after graduating from Zhejiang University. In 2018, he took over Quark, a lightweight product of UC Browser, and achieved over 100 million monthly active users (MAU) by 2025, becoming the first AI application in China to achieve this milestone and securing Alibaba's entry into the AI field. However, it has since been surpassed by Doubao. In November 2025, he took over the C-end of Qianwen, and subsequently fully integrated it with Alibaba's ecosystem businesses such as Taobao, Alipay, and Fliggy, again achieving over 100 million MAU for Qianwen. He has twice brought Alibaba's products to over 100 million MAU. - Lin Junyang, head of the Tongyi Qianwen large-scale model technology, holds a bachelor's degree in Computer Science from Peking University and a master's degree in Linguistics and Applied Linguistics. He is Alibaba's youngest P10-level technical expert. He joined Alibaba DAMO Academy in 2019 and participated in ultra-large-scale pre-trained models in 2020. Afterwards, the Qwen series models were open-sourced, and global downloads have exceeded 1 billion. He achieved the first open-source model...
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