{"id":52440,"date":"2025-03-04T14:57:08","date_gmt":"2025-03-04T14:57:08","guid":{"rendered":"https:\/\/fabricegrinda.com\/liontree-%e7%9a%84-antal-runnebom-%e7%9a%84%e7%8d%b2%e5%8b%9d%e8%80%85%e6%9c%80%e5%8f%97%e9%97%9c%e6%b3%a8\/"},"modified":"2025-03-04T18:55:49","modified_gmt":"2025-03-04T18:55:49","slug":"liontree-%e7%9a%84-antal-runnebom-%e7%9a%84%e7%8d%b2%e5%8b%9d%e8%80%85%e6%9c%80%e5%8f%97%e9%97%9c%e6%b3%a8","status":"publish","type":"post","link":"https:\/\/grinda.org\/zh-hant\/liontree-%e7%9a%84-antal-runnebom-%e7%9a%84%e7%8d%b2%e5%8b%9d%e8%80%85%e6%9c%80%e5%8f%97%e9%97%9c%e6%b3%a8\/","title":{"rendered":"LionTree \u7684 Antal Runnebom \u7684\u7372\u52dd\u8005\u6700\u53d7\u95dc\u6ce8"},"content":{"rendered":"\n<p>\u6211\u8207 LionTree \u7684 Antal Runnebom \u5750\u4e0b\u4f86\u3002\u6211\u5c0d\u7279\u5b9a\u5782\u76f4\u5e02\u5834\u7684\u6a5f\u6703\u63d0\u51fa\u4e86\u6211\u7684\u770b\u6cd5;FJ Labs \u9078\u64c7\u6211\u5011\u6295\u8cc7\u7684\u6578\u767e\u5bb6\u521d\u5275\u4f01\u696d\u7684\u904e\u7a0b;\u70ba\u4ec0\u9ebc\u4eba\u5f62\u6a5f\u5668\u4eba\u548c AI \u9a45\u52d5\u7684\u6295\u8cc7\u8005\u4f86\u5f97\u6bd4\u6211\u5011\u4efb\u4f55\u4eba\u90fd\u610f\u8b58\u5230\u7684\u8981\u5feb;\u4ee5\u53ca\u95dc\u65bc\u672a\u4f86\u80fd\u6e90\u8c50\u5bcc\u5c07\u5982\u4f55\u4f7f\u6211\u5011\u80fd\u5920\u201c\u6d6a\u8cbb\u80fd\u6e90\u201d\u767c\u660e\u4e0b\u4e00\u500b\u5f88\u9177\u7684\u6771\u897f\u7684\u9858\u666f\u3002 <\/p>\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Winner Takes Most with Serial Entrepreneur Fabrice Grinda\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/CzFFW6-nFy8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n<p>\u5982\u679c\u60a8\u9858\u610f\uff0c\u53ef\u4ee5\u5728\u5d4c\u5165\u5f0f\u64ad\u5ba2\u64ad\u653e\u6a5f\u4e2d\u6536\u807d\u8a72\u5287\u96c6\u3002<\/p>\n\n<iframe src=\"https:\/\/art19.com\/shows\/kindredcast\/episodes\/f94eb726-5587-4076-96de-c12892e1bced\/embed\" style=\"width: 100%; height: 200px; border: 0 none;\" scrolling=\"no\" sandbox=\"allow-scripts allow-popups allow-popups-to-escape-sandbox\"><\/iframe>\n\n<p>\u9664\u4e86\u4e0a\u9762\u7684YouTube\u8996\u983b\u548c\u5d4c\u5165\u5f0f\u64ad\u5ba2\u64ad\u653e\u6a5f\u5916\uff0c\u60a8\u9084\u53ef\u4ee5\u5728 <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/winner-takes-most-with-serial-entrepreneur-fabrice-grinda\/id1223813619?i=1000697298725\" target=\"_blank\" rel=\"noreferrer noopener\">iTunes<\/a> \u548c <a href=\"https:\/\/open.spotify.com\/episode\/7mZz3pOubPfDvEM8UvYgA9?si=-urfmwlgToiB-ArfCpgB_w\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a>\u4e0a\u6536\u807d\u64ad\u5ba2\u3002<\/p>\n\n<p><strong>\u6284\u672c<\/strong><\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u6b61\u8fce\u4f86\u5230 KindredCast\u3002\u6211\u662f Antal Runneboom\u3002\u503c\u6b64\u7b2c 200 \u671f\u64ad\u5ba2\u6642\uff0c\u6211\u5011\u5c07\u6df1\u5165\u63a2\u8a0e\u65e9\u671f\u6295\u8cc7\u9818\u57df\uff0c\u91cd\u9ede\u95dc\u6ce8\u5e02\u5834\u3001\u8edf\u9ad4\u548c\u5176\u4ed6\u524d\u77bb\u6027\u6280\u8853\u3002\u4eca\u5929\uff0c\u6211\u5011\u5f88\u9ad8\u8208\u80fd\u8207 FJ Labs \u7684\u5275\u59cb\u5408\u5925\u4eba Fabrice Grinda \u4ea4\u8ac7\uff0cFJ Labs \u662f\u4e00\u5bb6\u7e3d\u90e8\u4f4d\u65bc\u7d10\u7d04\u5e02\u7684\u8207\u821e\u81fa\u7121\u95dc\u7684\u98a8\u96aa\u57fa\u91d1\u3002   <\/p>\n\n<p>Fabrice \u662f\u4e00\u4f4d\u9023\u7e8c\u5275\u696d\u8005\u548c\u8d85\u7d1a\u5929\u4f7f\u30022006\u5e74\uff0c\u4ed6\u8207\u4ed6\u4eba\u5171\u540c\u5275\u7acb\u4e86OLX\uff0c\u9019\u662f\u4e00\u5bb6\u5168\u7403\u6578\u4f4d\u5206\u985e\u5ee3\u544a\u5e02\u5834\u985b\u8986\u8005\uff0c\u96a8\u5f8c\u88ab\u51fa\u552e\u7d66Naspers\uff0c\u4ed6\u5728\u90a3\u88e1\u4e00\u76f4\u5f85\u52302014\u5e74\u3002 <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u5f9e\u90a3\u6642\u8d77\uff0c\u4ed6\u4e00\u76f4\u81f4\u529b\u65bc\u901a\u904e FJ Labs \u5fb9\u5e95\u6539\u8b8a\u5e02\u5834\u548c\u6280\u8853\u751f\u614b\u7cfb\u7d71\uff0c\u5728\u90a3\u88e1\u4ed6\u9818\u5c0e\u4e86\u5c0d\u5168\u7403 1100 \u591a\u5bb6\u521d\u5275\u516c\u53f8\u7684\u6295\u8cc7\u3002Fabrice \u7684\u4e00\u4e9b\u6295\u8cc7\u5305\u62ec\u963f\u88e1\u5df4\u5df4\u3001Airbnb\u3001FanDuel\u3001Palantir\u3001Beepi\u3001Vinted\u3001Quince \u548c Figure AI \u7b49\u3002 <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u4eca\u5929\uff0c\u6211\u5011\u5c07\u63a2\u8a0e Fabrice \u7684\u5275\u696d\u6b77\u7a0b\u3001\u4ed6\u5728 FJ Labs \u7684\u6295\u8cc7\u7406\u5ff5\uff0c\u4ee5\u53ca\u4ed6\u5c0d\u5e02\u5834\u3001\u4eba\u5de5\u667a\u6167\u548c B2B \u521d\u5275\u516c\u53f8\u672a\u4f86\u7684\u770b\u6cd5\uff0c\u4e26\u6df1\u5165\u77ad\u89e3\u4ed6\u7684\u4e3b\u8981\u6295\u8cc7\u7d44\u5408\u516c\u53f8\u3002Fabrice\uff0c\u4eca\u5929\u975e\u5e38\u9ad8\u8208\u80fd\u9080\u8acb\u5230\u60a8\u4f86\u5230 KindredCast\u3002 <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u8b93\u6211\u5011\u5f9e\u60a8\u7684\u80cc\u666f\u958b\u59cb\u3002\u662f\u4ec0\u9ebc\u8b93\u60a8\u6700\u521d\u4f86\u5230\u7f8e\u570b\u4e26\u9032\u5165\u6280\u8853\u9818\u57df\uff1f <\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u6240\u4ee5\u6211\u5728\u6cd5\u570b\u5357\u90e8\u7684\u5c3c\u65af\u9577\u5927\u30021984\u5e74\uff0c10 \u6b72\u7684\u6211\u5f97\u5230\u4e86\u6211\u7684\u7b2c\u4e00\u53f0\u96fb\u8166\u3002\u4e00\u898b\u937e\u60c5\u3002\u5f9e\u90a3\u4e00\u523b\u8d77\uff0c\u6211\u77e5\u9053\u6211\u548c Computers \u5c07\u6c38\u9060\u5728\u4e00\u8d77\u3002\u554f\u984c\u662f\uff0c\u5c0d\u6211\u4f86\u8aaa\uff0c\u7576\u6642\u662f\u5426\u9700\u8981\u53bb\u7f8e\u570b\u4e26\u4e0d\u660e\u986f\uff0c\u4f46\u5f88\u660e\u986f\uff0c\u5728 1980 \u5e74\u4ee3\u71b1\u611b\u8a08\u7b97\u6a5f\u7684\u6cd5\u570b\uff0c\u6211\u662f N of 1\u3002\u6211\u662f\u4e00\u500b\u5916\u661f\u4eba\u3002\u6709 Minitel\uff0c\u5728\u6280\u8853\u9818\u57df\u6709\u4e00\u4e9b\u6771\u897f\uff0c\u4f46\u5b83\u4e26\u4e0d\u662f\u771f\u6b63\u7684\u6280\u8853\u524d\u6cbf\u3002\u6211\u8df3\u4e86\u5e7e\u500b\u5e74\u7d1a\u3002\u6211\u662f\u73ed\u4e0a\u7684\u4f7c\u4f7c\u8005\u3002\u6211\u8d0f\u5f97\u4e86\u6240\u6709\u7684\u5967\u6797\u5339\u514b\u7af6\u8cfd\u3002\u6211\u6b63\u5728\u7d44\u88dd\u6211\u7684\u8a08\u7b97\u6a5f\u3001\u7a0b\u5f0f\u8a2d\u8a08\u3001\u69cb\u5efa BBS\uff0c\u4e26\u958b\u59cb\u8003\u616e\u70ba\u5927\u5b78\u505a\u4ec0\u9ebc\u3002          <\/p>\n\n<p>\u6211\u53bb\u4e86\u6700\u597d\u7684\u6cd5\u570b\u5b78\u6821 Lennar \u9762\u8a66\u3002\u7136\u5f8c\u6211\u53bb\u548c\u90a3\u88e1\u7684\u4e3b\u8b1b\u6559\u6388\u8ac7\u4e86\u8ac7\u3002\u201c\u4ed6\u8aaa\uff0c\u201d\u90a3\u9ebc\u4f60\u7562\u696d\u5f8c\u60f3\u505a\u4ec0\u9ebc\uff1f\u6211\u60f3\uff0c\u201c\u55ef\uff0c\u6211\u60f3\u8ffd\u96a8\u6211\u7684\u699c\u6a23\u6bd4\u723e\u00b7\u84cb\u8328\u548c\u53f2\u8482\u592b\u00b7\u7d04\u4f2f\u65af\u7684\u8173\u6b65\u3002\u4ed6\u8aaa\uff0c\u300c\u4ec0\u9ebc\uff1f\u4f60\u6703\u80cc\u53db\u6cd5\u570b\u793e\u6703\u4e3b\u7fa9\u9769\u547d\u7684\u7406\u60f3\u55ce\uff1f\u6211\u4ee5\u70ba\u4ed6\u5728\u958b\u73a9\u7b11\uff0c\u6211\u5927\u7b11\u8d77\u4f86\u3002\u4ed6\u7576\u7136\u4e0d\u662f\u3002\u201c\u6211\u8aaa\uff0c\u201d\u597d\u5427\uff0c\u4e5f\u8a31\u6211\u5c6c\u65bc\u7f8e\u570b\uff0c\u7f8e\u570b\u5922\u6211\u4f86\u4e86\u3002\u65bc\u662f\u7533\u8acb\u4e86\u5927\u5b78\u3002\u6211\u7684\u610f\u601d\u662f\uff0c\u90a3\u6642\u5019\u5f88\u96e3\uff0c\u56e0\u70ba\u7db2\u4e0a\u4ec0\u9ebc\u90fd\u6c92\u6709\u3002\u6211\u5fc5\u9808\u53bb\u62dc\u8a2a\u4ed6\u5011\uff0c\u6311\u9078\u61c9\u7528\u7a0b\u5f0f\u3002\u6211\u4ec0\u81f3\u4e0d\u77e5\u9053\u4f60\u53ef\u4ee5\u70ba SAT \u5b78\u7fd2\u3002\u4f46\u53bb\u4e86\u666e\u6797\u65af\u9813\uff0c\u5269\u4e0b\u7684\u5c31\u662f\u6b77\u53f2\u4e86\u3002            <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u4e86\u4e0d\u8d77\u3002 \u6240\u4ee5\uff0c\u60a8\u6709\u8da3\u7684\u4e00\u9ede\u662f\uff0c\u5728 OLX \u4e4b\u524d\uff0c\u9019\u53ef\u80fd\u662f\u60a8\u5275\u7acb\u7684\u6700\u8457\u540d\u7684\u4f01\u696d\uff0c\u60a8\u4e4b\u524d\u5df2\u7d93\u5275\u8fa6\u4e86\u5169\u5bb6\u516c\u53f8\u4e26\u51fa\u552e\u4e86\u5b83\u5011\u3002\u544a\u8a34\u6211\u5011\u4e00\u4e9b\u95dc\u65bc\u60a8\u7684\u5275\u696d\u4e4b\u65c5\u7684\u5f62\u6210\u548c\u57fa\u790e\uff0c\u6700\u7d42\u5c0e\u81f4\u60a8\u5275\u7acb\u4e86 OLX\uff0c\u7136\u5f8c\u518d\u6b21\u5c07\u5176\u51fa\u552e\u7d66 Naspers\u3002 <\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u6240\u4ee5\u53bb\u4e86\u666e\u6797\u65af\u9813\uff0c\u5b8c\u6210\u4e86\u6211\u7684\u8ab2\u7a0b\u3002\u4e3b\u8981\u5b78\u7fd2\u7d93\u6fdf\u5b78\uff0c\u56e0\u70ba\u5c0d\u6211\u4f86\u8aaa\uff0c\u5b83\u89e3\u91cb\u4e86\u4e16\u754c\u7684\u904b\u4f5c\u65b9\u5f0f\u3002\u7562\u696d\u540e\uff0c\u6211\u5c31\u60f3\uff0c\u300c\u597d\u5427\uff0c\u6211\u60f3\u6210\u70ba\u4e00\u540d\u79d1\u6280\u5275\u59cb\u4eba\uff0c\u73fe\u5728\u6709\u4e00\u500b\u6ce1\u6cab\uff0c\u4f46\u6211\u9019\u500b\u5bb3\u7f9e\u3001\u5167\u5411\u300121 \u6b72\u7684\u4eba\uff0c\u8b93\u6211\u5011\u53bb\u9ea5\u80af\u932b\u5427\u3002\u9019\u662f\u5546\u5b78\u9662\uff0c\u53ea\u662f\u4ed6\u5011\u4ed8\u9322\u7d66\u4f60\u3002\u5f9e\u90a3\u88e1\u958b\u59cb\uff0c\u6211\u5c07\u5b78\u7fd2\u53e3\u982d\u548c\u66f8\u9762\u6e9d\u901a\u6280\u5de7\u3001\u516c\u958b\u6f14\u8b1b\u6280\u5de7\uff0c\u9019\u5c07\u4f7f\u6211\u5728\u5efa\u7acb\u516c\u53f8\u6642\u6210\u70ba\u4e00\u540d\u66f4\u597d\u7684\u5546\u4eba\u3002\u5169\u5e74\u5f8c\uff0c\u6211\u89ba\u5f97\u6211\u5b78\u5230\u4e86\u6211\u9700\u8981\u5b78\u7fd2\u7684\u6771\u897f\u3002\u6211\u7576\u6642 23 \u6b72\uff0c\u90a3\u662f 98 \u5e74\u3002\u6211\u8aaa\uff0c\u201c\u597d\u5427\uff0c\u6211\u5011\u53bb\u5efa\u7acb\u79d1\u6280\u516c\u53f8\u5427\u3002\u73fe\u5728\u7684\u554f\u984c\u662f\u7576\u6642\u7684\u7d04\u675f\u689d\u4ef6\u975e\u5e38\u4e0d\u540c\u3002\u5982\u679c\u4f60\u60f3\u5728 98 \u5e74\u5efa\u7acb\u4e00\u5bb6\u79d1\u6280\u516c\u53f8\uff0c\u4f60\u9700\u8981\u5efa\u7acb\u81ea\u5df1\u7684\u6578\u64da\u4e2d\u5fc3\u3002\u4f60\u9700\u8981\u6578\u767e\u842c\u7f8e\u5143\u624d\u80fd\u958b\u71c8\u3002\u4f5c\u70ba\u4e00\u500b 23 \u6b72\u7684\u5e74\u8f15\u4eba\uff0c\u5b83\u7522\u751f\u4e86\u8907\u96dc\u6027\u3002           <\/p>\n\n<p>\u6240\u4ee5\uff0c\u7576\u6211\u4ed4\u7d30\u601d\u8003\u6642\uff0c\u6211\u60f3\u69cb\u5efa\u4ec0\u9ebc\uff1f\u55ef\uff0c\u6211\u5929\u751f\u5c31\u662f\u4e00\u540d\u7d93\u6fdf\u5b78\u5bb6\u3002\u6211\u5b78\u7fd2\u4e86\u5e02\u5834\u8a2d\u8a08\u3002\u6211\u611b\u4e0a\u4e86 eBay \u7684\u6a21\u5f0f\u3002\u6211\u89ba\u5f97\u5b83\u662f\u8f15\u91cf\u7d1a\u7684\uff0c\u8d0f\u5bb6\u901a\u5403\uff0c\u800c\u4e14\u53ef\u64f4\u5c55\u6027\u6975\u5f37\u3002\u201c\u6211\u8aaa\uff0c\u201d\u4f60\u770b\uff0c\u5b83\u6709\u5176\u81ea\u8eab\u7684\u8907\u96dc\u6027\uff0c\u5373\u5339\u914d\u4f9b\u9700\u548c\u89e3\u6c7a\u5148\u6709\u96de\u9084\u662f\u5148\u6709\u86cb\u7684\u554f\u984c\u3002\u4f46\u9019\u662f\u6211\u975e\u5e38\u9069\u5408\u89e3\u6c7a\u7684\u554f\u984c\u3002\u6240\u4ee5\u6211\u6c7a\u5b9a\u628a\u9019\u500b\u60f3\u6cd5\u5e36\u5230\u6b50\u6d32\uff0c\u4e5f\u5e36\u5230\u62c9\u4e01\u7f8e\u6d32\u3002\u800c\u9019\u50c5\u50c5\u662f\u500b\u958b\u59cb\u3002       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General Catalyst\u3001Bessemer\u3001Founders Fund \u7684 PowerPoint \u4e0a\u662f\u975e\u540c\u5c0b\u5e38\u7684\u3002\u6211\u7576\u6642\u60f3\uff0c\u201c\u597d\u5427\uff0c\u6211\u5011\u53bb\u69cb\u5efa\u9019\u500b\u5427\u3002       <\/p>\n\n<p>\u6240\u4ee5\uff0c\u69cb\u5efaOLX\u3002\u5728 100 \u500b\u570b\u5bb6\/\u5730\u5340\u63a8\u51fa\u3002\u7576\u60a8\u5efa\u7acb\u4e00\u500b\u5e02\u5834\u6642\uff0c\u60a8\u5e0c\u671b\u5f9e\u53bb\u627e\u8ce3\u5bb6\u958b\u59cb\uff0c\u56e0\u70ba\u8ce3\u5bb6\u5728\u90a3\u88e1\u6709\u7d93\u6fdf\u52d5\u6a5f\u3002\u6240\u4ee5\u6211\u544a\u8a34\u6240\u6709\u9019\u4e9b\u4eba\uff0c\u201c\u770b\uff0c\u6211\u5011\u9084\u6c92\u6709\u6d41\u52d5\u6027\uff0c\u4f46\u6211\u5011\u662f\u514d\u8cbb\u7684\u3002\u70ba\u4ec0\u9ebc\u4e0d\u662f\u6211\u5011\uff1f\u770b\u770b\u6703\u767c\u751f\u4ec0\u9ebc\u3002\u56e0\u6b64\uff0c\u6211\u53bb\u627e\u6c7d\u8eca\u7d93\u92b7\u5546\u3001\u623f\u5730\u7522\u7d93\u7d00\u4eba\uff0c\u5c24\u5176\u662f\u5728\u6c92\u6709 MLS 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<\/p>\n\n<p>\u7531\u65bc\u9019\u4e9b\u5e02\u5834\u7684\u52d5\u614b\uff0c\u60a8\u5e0c\u671b\u5be6\u73fe\u8d85\u7576\u5730\u8a9e\u7cfb\u5316\uff0c\u60a8\u5e0c\u671b\u5275\u9020\u6d41\u52d5\u6027\uff0c\u6211\u5011\u6c7a\u5b9a\uff0c\u60a8\u77e5\u9053\u55ce\uff1f\u5b83\u5728\u7f8e\u570b\u4e26\u4e0d\u771f\u6b63\u6709\u6548\uff0c\u56e0\u70ba\u7372\u53d6\u5ba2\u6236\u7684\u6210\u672c\u592a\u9ad8\u4e86\u3002Craigslist \u5df2\u7d93\u6709\u4e86\u6d41\u52d5\u6027\u3002\u5b83\u5728\u5927\u591a\u6578\u897f\u6b50\u5730\u5340\u4e26\u6c92\u6709\u771f\u6b63\u594f\u6548\uff0c\u56e0\u70ba Schibsted \u548c Adevinta \u5df2\u7d93\u5728\u90a3\u88e1\u4e86\u3002\u5373\u4f7f\u60a8\u662f\u66f4\u597d\u7684\u7522\u54c1\u548c\u6355\u9f20\u5668\uff0c\u6d41\u52d5\u6027\u4e5f\u52dd\u904e\u5176\u4ed6\u4e00\u5207\u3002\u6240\u4ee5\u6211\u5011\u8aaa\uff0c\u300c\u4f60\u77e5\u9053\u55ce\uff1f\u6211\u5011\u6703\u5728\u5b83\u8d77\u4f5c\u7528\u7684\u5730\u65b9\u52a0\u500d\u52aa\u529b\u3002\u54c8\u6587\u628a\u7fa9\u5927\u5229\u9762\u6254\u5728\u7246\u4e0a\u540e\u8aaa\uff1a\u201c\u8b93\u6211\u5011\u53bb\u5370\u5ea6\u3001\u5df4\u897f\u3001\u8461\u8404\u7259\u3001\u5df4\u57fa\u65af\u5766\u5427\u3002Hyper \u5c08\u6ce8\u65bc\u90a3\u88e1\u3002\u6210\u70ba\u90a3\u88e1\u7684\u4e3b\u5c0e\u8005\uff0c\u8b8a\u5f97\u975e\u5e38\u5927\uff0c\u6709\u5229\u53ef\u5716\u3002\u7136\u5f8c\u6211\u5011\u6c7a\u5b9a\u5229\u7528\u9019\u7b46\u8cc7\u91d1\u64f4\u5c55\u5230\u5176\u4ed6 30 \u500b\u570b\u5bb6\u3002         <\/p>\n\n<p>\u56e0\u6b64\uff0c\u751a\u81f3\u5728 Naspers \u4ea4\u6613\u4e4b\u524d\uff0c\u6211\u5011\u5df2\u7d93\u589e\u9577\u4e86\u8d85\u904e 1 \u5104\u7368\u7acb\u8a2a\u5ba2\uff0c\u5728\u5927\u591a\u6578\u65b0\u8208\u5e02\u5834\u4e2d\u4f54\u64da\u4e3b\u5c0e\u5730\u4f4d\u3002\u5766\u7387\u5730\u8aaa\uff0c\u6211\u975e\u5e38\u9ad8\u8208\uff0c\u4e00\u5207\u90fd\u6e96\u5099\u597d\u4e86\u3002\u6211\u60f3\uff0c\u300c\u597d\u5427\uff0c\u672a\u4f86 10 \u5e74\u6211\u5011\u9032\u884c CDC \u4ea4\u6613\u975e\u5e38\u660e\u78ba\uff0c\u6211\u5011\u4e3b\u5c0e\u6c7d\u8eca\u548c\u623f\u5730\u7522\uff0c\u7136\u5f8c\u53ef\u80fd\u662f\u5c31\u696d\uff0c\u7136\u5f8c\u6211\u5011\u958b\u59cb\u4ea4\u6613\u3002\u90a3\u88e1\u6709\u4e00\u5bb6 1000 \u5104\u5bb6\u516c\u53f8\u8981\u5efa\u3002  <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u662f\u7684\uff0c\u4f46\u5f88\u5feb\u60c5\u6cc1\u5c31\u4e0d\u540c\u4e86\uff0c\u4f60\u628a\u516c\u53f8\u8ce3\u7d66\u4e86 Naspers\u3002<\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u6240\u4ee5 OLX \u662f\u6211\u4e00\u751f\u90fd\u60f3\u5efa\u7acb\u548c\u7d93\u71df\u7684\u516c\u53f8\u3002\u6211\u5011\u662f\u6240\u5728\u570b\u5bb6\u793e\u6703\u7d50\u69cb\u7684\u4e00\u90e8\u5206\u3002\u73fe\u5728\uff0c\u6211\u5011\u6bcf\u6708\u6709 3 \u5104\u7368\u7acb\u8a2a\u5ba2\uff0c\u5927\u7d04\u6709 5000 \u842c\u4eba\u9760\u7db2\u7ad9\u8b00\u751f\u3002\u5b83\u5c0d\u4eba\u5011\u7684\u751f\u6d3b\u7522\u751f\u4e86\u6df1\u9060\u7684\u5f71\u97ff\uff0c\u5c24\u5176\u662f\u5728\u652f\u4ed8\u7cfb\u7d71\u3001\u4fe1\u8a17\u548c\u904b\u8f38\u7cfb\u7d71\u904b\u4f5c\u4e0d\u4f73\u7684\u570b\u5bb6\u3002\u4ee4\u6211\u975e\u5e38\u61ca\u60f1\u7684\u662f\uff0c\u6b50\u6d32\u516c\u958b\u4ea4\u6613\u7684\u7af6\u722d\u5c0d\u624b Schibsted \u8207 Telenor \u6210\u7acb\u4e86\u4e00\u5bb6\u5408\u8cc7\u4f01\u696d\uff0c\u4ed6\u5011\u5728\u6211\u7684\u6838\u5fc3\u570b\u5bb6\uff0c\u5c24\u5176\u662f\u5df4\u897f\u548c\u8461\u8404\u7259\uff0c\u7528\u6578\u5104\u7f8e\u5143\u7684\u96fb\u8996\u652f\u51fa\u4f86\u653b\u64ca\u6211\u3002\u7279\u5225\u662f\u5728\u5df4\u897f\uff0c\u4ed6\u5011\u5728\u7b2c\u4e00\u5e74\u82b1\u8cbb\u4e86 6000 \u842c\u6b50\u5143\uff0c\u7b2c\u4e8c\u5e74\u82b1\u8cbb\u4e86 8000 \u842c\u6b50\u5143\uff0c\u4eca\u5e74\u82b1\u8cbb\u4e86 1.6 \u5104\u6b50\u5143\u3002\u6240\u4ee5\u6578\u5104\u7f8e\u5143\u3002      <\/p>\n\n<p>\u6b64\u6642\u6211\u5011\u5df2\u7d93\u7c4c\u96c6\u4e86 2850 \u842c\u3002\u96d6\u7136\u6211\u5011\u4f54\u64da\u4e3b\u5c0e\u5730\u4f4d\uff0c\u4f46\u6211\u5011\u6709\u6d41\u52d5\u6027\uff0c\u4ed6\u5011\u6b63\u5728\u4e00\u9ede\u4e00\u9ede\u5730\u8fce\u982d\u8d95\u4e0a\u3002\u5728\u67d0\u4e9b\u6642\u5019\uff0c\u6211\u5011\u4ecd\u7136\u50cf 60-40\uff0c\u5373\u4f7f\u4ed6\u5011\u5df2\u7d93\u82b1\u4e86\u6578\u5104\u30022010 \u5e74\uff0c\u6211\u53bb\u4e86\u7f8e\u570b\u7684\u98a8\u96aa\u6295\u8cc7\u516c\u53f8\uff0c\u6211\u8aaa\uff0c\u201c\u4f60\u770b\uff0c\u6211\u6709\u500b\u58de\u6d88\u606f\u3002\u53bb\u5e74\u6211\u5011\u975e\u5e38\u6709\u5229\u53ef\u5716\uff0c\u8868\u73fe\u4e5f\u975e\u5e38\u51fa\u8272\uff0c\u4f46\u73fe\u5728\u6211\u5011\u9700\u8981\u505c\u6b62\u8b8a\u73fe\uff0c\u5728\u96fb\u8996\u4e0a\u82b1\u8cbb 1 \u5104\uff0c\u4e26\u5728\u591a\u500b\u5e02\u5834\u9032\u884c\u3002\u5982\u679c\u9019\u6b21\u5c0d\u8a71\u767c\u751f\u5728 2015 \u5e74\uff0c\u4e5f\u8a31\u662f\u8207 DSC \u6216 Tiger Global \u6216\u5176\u4ed6\u516c\u53f8\u9032\u884c\uff0c\u6211\u5011\u53ef\u80fd\u80fd\u5920\u505a\u5230\u9019\u4e00\u9ede\u3002    <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u4f60\u6703\u5f97\u5230\u9019\u7b46\u8cc7\u91d1\u7684\u3002<\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u662f\u7684\u3002 \u4f46\u5728 2010 \u5e74\uff0c\u6211\u53bb\u627e\u7f8e\u570b\u7684\u98a8\u96aa\u6295\u8cc7\u516c\u53f8\uff0c\u544a\u8a34\u4ed6\u5011\uff0c\u6211\u9700\u8981\u6578\u5104\u7f8e\u5143\u5728\u5df4\u57fa\u65af\u5766\u7684\u96fb\u8996\u4e0a\u82b1\u9322\uff0c\u7d50\u679c\u4e26\u4e0d\u9806\u5229\u3002\u6240\u4ee5\u6211\u8a2d\u6cd5\u8aaa\u670d\u4e86 Naspers \u7684\u4eba\uff0c\u4ed6\u5011\u662f Naspers\u3002Naspers \u5c0d\u9032\u5165\u5206\u985e\u5e02\u5834\u5f88\u611f\u8208\u8da3\u3002\u4e8b\u5be6\u4e0a\uff0c\u4ed6\u5011\u662f\u5b8c\u7f8e\u7684\u5408\u4f5c\u5925\u4f34\uff0c\u56e0\u70ba\u5118\u7ba1\u6211\u5f88\u6fc0\u9032\uff0c\u4f46 Kuss \u5c24\u5176\u66f4\u5177\u4fb5\u7565\u6027\u3002\u6211\u6703\u53bb\u627e\u4ed6\uff0c\u8aaa\uff1a\u201c\u6211\u9700\u8981\u4e00\u5104\u3002\u201c\u4ed6\u6703\u56de\u554f\u6211\uff0c\u4ed6\u8aaa\uff0c\u201d\u4e0d\uff0c\u4e0d\uff0c\u4f60\u7684\u610f\u601d\u662f\u4f60\u9700\u8981 3 \u5104\u3002\u6211\u5011\u66f4\u5927\uff0c\u6211\u5011\u66f4\u5f37\u5927\u3002\u6211\u5011\u66f4\u5feb\u3002\u6211\u5011\u5c07\u8d0f\u5f97\u9019\u5834\u6230\u722d\u3002\u56e0\u6b64\uff0c\u4ed6\u5011\u7d66\u4e86\u6211\u8fd1 10 \u5104\u7f8e\u5143\uff0c\u8b93\u6211\u53bb\u8207 Schibsted \u6253\u4e00\u5834\u4ed7\u3002\u6b64\u5916\uff0c\u9019\u751a\u81f3\u4e0d\u5305\u62ec\u5c0d Dubizzle \u7684 Avito \u7b49\u7684\u6536\u8cfc\u3002\u6211\u5011\u6700\u7d42\u8d0f\u5f97\u4e86\u9019\u5834\u6230\u722d\u3002\u6211\u5011\u4ee5 51 \u6bd4 49 \u5408\u4f75\u3002\u662f\u7684\uff0c\u4e8b\u60c5\u5df2\u7d93\u5875\u57c3\u843d\u5b9a\u4e86\u3002          <\/p>\n\n<p>\u9019\u4e9b\u696d\u52d9\uff0c\u4e00\u65e6\u4f60\u6210\u70ba\u4e3b\u5c0e\u8005\uff0c\u5c31\u6703\u7372\u5f97\u975e\u5e38\u9ad8\u7684\u5229\u6f64\uff0c\u6211\u7684\u610f\u601d\u662f\uff0c\u6211\u5011\u8ac7\u8ad6\u7684\u662f 75% \u7684 EBITDA \u7372\u5229\u7387\uff0c\u9019\u751a\u81f3\u5728\u9032\u884c\u4ea4\u6613\u4e4b\u524d\uff0c\u7b49\u7b49\u3002\u6240\u4ee5 2010 \u5e74\u8207 Naspers \u7684\u4ea4\u6613\uff0c\u4ed6\u5011\u7d66\u4e86\u6211\u6240\u6709\u7684\u9322\u3002\u4ea4\u6613\u540e\u6211\u7d93\u71df\u4e86\u4e09\u5e74\u3002\u4ed6\u5011\u6c92\u6709\u8cb7\u4e0b\u6211\u3002\u9019\u96bb\u662f\u70ba\u4e86\u8d0f\u5f97\u6230\u722d\u800c\u7c4c\u96c6\u8cc7\u91d1\u3002\u7136\u5f8c 2013 \u5e74\uff0c\u6211\u60f3\uff0c\u201c\u597d\u5427\uff0c\u6211\u5011\u8d0f\u4e86\u3002\u4e8b\u60c5\u9084\u4e0d\u932f\uff0c\u4f46\u6210\u70ba\u4e00\u5bb6\u5927\u578b\u4e0a\u5e02\u516c\u53f8\u7684\u4e00\u54e1\u5f88\u7121\u804a\u3002\u6211\u4e0d\u518d\u73a9 product\u3002\u6211\u7684\u751f\u6d3b\u662f\u5275\u5efa\u5e74\u5ea6\u5831\u544a\uff0c\u7136\u5f8c\u662f\u5b63\u5ea6\u5831\u544a\uff0c\u7136\u5f8c\u66f4\u65b0\u5b63\u5ea6\u9810\u7b97\u4e4b\u985e\u7684\u6771\u897f\u3002\u8b93\u6211\u5011\u56de\u5230\u57fa\u790e\u3002\u8b93\u6211\u5011\u56de\u5230\u96f6\u3002\u56e0\u6b64\uff0c\u6211\u5728 2013 \u5e74\u96e2\u958b\u4e86\u516c\u53f8\uff0c\u5728\u67d0\u7a2e\u7a0b\u5ea6\u4e0a\uff0c\u7576\u6642\u6b63\u503c\u516c\u53f8\u696d\u7e3e\u7684\u5dd4\u5cf0\u6642\u671f\uff0c\u6b64\u5f8c\u5b83\u4e00\u76f4\u8868\u73fe\u5f97\u975e\u5e38\u51fa\u8272\u3002      <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u4e86\u4e0d\u8d77\u3002 \u9019\u4e9b\u4f01\u696d\u4ecd\u7136\u5728\u4ed6\u5011\u7684\u8a31\u591a\u5e02\u5834\u4e2d\u4f54\u64da\u4e3b\u5c0e\u5730\u4f4d\u3002\u5728\u6771\u6b50\u975e\u5e38\u5f37\u52c1\uff0c\u5728\u5df4\u897f\u975e\u5e38\u5f37\u52c1\uff0c\u5728\u5176\u4ed6\u7d93\u6fdf\u9ad4\u4e5f\u975e\u5e38\u5f37\u52c1\u3002 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\u5728\u6307\u5c0e\u60a8\u3001\u4fc3\u6210\u4ea4\u6613\u7b49\u65b9\u9762\u505a\u5f97\u66f4\u597d\u3002\u5f9e\u90a3\u500b\u89d2\u5ea6\u4f86\u770b\uff0c\u9019\u4e26\u4e0d\u6e05\u695a\u3002       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\u842c\uff0c\u6709\u4e86\u9019\u500b\u6c34\u5e73\u7684\u8cc7\u672c\uff0c\u4f60\u53ef\u4ee5\u5efa\u7acb\u975e\u5e38\u6210\u529f\u3001\u9ad8\u6548\u7684\u516c\u53f8\u3002\u800c\u5c0d\u65bc\u8a31\u591a\u5176\u4ed6\u9700\u8981\u7684\u516c\u53f8\u548c\u985e\u5225\u4f86\u8aaa\uff0c\u60c5\u6cc1\u4e26\u975e\u5982\u6b64\uff0c\u5982\u679c\u4f60\u60f3\u5728\u4e00\u5bb6\u805a\u8b8a\u7814\u7a76\u516c\u53f8\u4e2d\u958b\u555f\u5de5\u4f5c\uff0c\u4f60\u53ef\u80fd\u9700\u8981\u6578\u5104\u5929\u7684\u96f6\u65e5\uff0c\u800c\u9019\u4e26\u4e0d\u610f\u5473\u8457\u5b83\u975e\u5e38\u53ef\u884c\u3002   <\/p>\n\n<p>FJ Labs \u662f\u4e00\u5bb6\u98a8\u96aa\u57fa\u91d1\uff0c\u4e0a\u4e00\u96bb\u57fa\u91d1\u662f 3 \u5104\uff0c\u4e0b\u4e00\u96bb\u57fa\u91d1\u53ef\u80fd\u4e5f\u662f 3 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300 \u7b46\u4ea4\u6613\uff0c\u6211\u5011\u8207\u5176\u4ed6 VC \u5206\u4eab\u5f88\u591a\u4ea4\u6613\u6d41\uff0c\u6211\u5011\u4e0d\u8207\u4ed6\u5011\u7af6\u722d\u3002\u4ed6\u5011\u958b\u51fa 1000 \u842c\u7f8e\u5143\u7684\u652f\u7968\uff0c\u6211\u5011\u958b\u51fa 400 \u842c\u7f8e\u5143\u7684\u652f\u7968\u3002\u6211\u5011\u904e\u53bb\u652f\u63f4\u4e86\u5f88\u591a\u5275\u59cb\u4eba\uff0c\u6211\u5011\u652f\u63f4\u4e86 2000 \u540d\u5275\u59cb\u4eba\uff0c\u4ed6\u5011\u5e36\u8457\u4e0b\u4e00\u5bb6\u516c\u53f8\u56de\u4f86\uff0c\u4ed6\u5011\u628a\u4ed6\u5011\u7684\u54e1\u5de5\u9001\u5230\u6211\u5011\u9019\u88e1\uff0c\u4ed6\u5011\u628a\u4ed6\u5011\u7684\u670b\u53cb\u9001\u5230\u6211\u5011\u9019\u88e1\uff0c\u7136\u5f8c\u50c5\u50c5\u56e0\u70ba\u9019\u500b\u54c1\u724c\u5c31\u5438\u5f15\u4e86\u6211\u5011\u3002\u6211\u5011\u6bcf\u5468\u6536\u5230 300 \u7b46\u4ea4\u6613\uff0c\u516c\u53f8\u6709 9 \u500b\u6295\u8cc7\u8005\uff0c\u9019\u4e9b\u4ea4\u6613\u88ab\u96a8\u6a5f\u5206\u914d\u7d66 9 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6 \u500b\u6708\u300112 \u500b\u6708\u300118 \u500b\u6708\u3001\u5169\u5e74\u7b49\u5f8c\uff0c\u60a8\u7684 CAC \u5230 LTV \u662f\u591a\u5c11\uff1f             <\/p>\n\n<p>\u5373\u4f7f\u662f\u5728\u767c\u4f48\u524d\uff0c\u6211\u4e5f\u5e0c\u671b\u4f60\u5df2\u7d93\u505a\u4e86\u8db3\u5920\u7684\u6e2c\u8a66\uff0c\u5373\u4f7f\u6709 1000 \u7f8e\u5143\uff0c\u4f60\u4e5f\u80fd\u6e05\u695a\u5730\u8868\u9054\u51fa\u4f86\u3002\u5982\u679c\u4f60\u505a\u4e0d\u5230\uff0c\u90a3\u53ef\u80fd\u610f\u5473\u8457\u4f60\u5c0d\u696d\u52d9\u7684\u7406\u89e3\u4e26\u4e0d\u50cf\u4f60\u8a8d\u70ba\u7684\u90a3\u6a23\u597d\u3002\u7b2c\u4e09\u9ede\uff0c\u4ea4\u6613\u689d\u6b3e\uff0c\u6211\u5c0d\u50f9\u683c\u5f88\u654f\u611f\u3002\u56e0\u70ba\u6211\u5011\u662f\u5982\u6b64\u5927\u7684\u6295\u8cc7\u8005\uff0c\u6240\u4ee5\u6211\u5011\u77e5\u9053\u6211\u5011\u985e\u5225\u7684\u6240\u6709\u4e8b\u7269\u7684\u4e2d\u4f4d\u6578\u3002\u6240\u4ee5\u6211\u5011\u77e5\u9053\u4e2d\u4f4d\u6578\u7a2e\u5b50 A\u3001B\u3001C \u7b49\u61c9\u8a72\u5728\u54ea\u88e1\uff0c\u6211\u5011\u5617\u8a66\u5728\u4e2d\u4f4d\u6578\u9644\u8fd1\u9032\u884c\u6295\u8cc7\u3002\u4e2d\u4f4d\u6578\u9060\u4f4e\u65bc\u5e73\u5747\u503c\uff0c\u56e0\u70ba\u5b83\u5728\u904e\u53bb\u4e00\u5e74\u4e2d\u88ab\u4eba\u5de5\u667a\u6167\u548c\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u63a8\u9ad8\u3002     <\/p>\n\n<p>\u7136\u5f8c\u662f\u7b2c\u56db\u9ede\uff0c\u5b83\u662f\u5426\u7b26\u5408\u6211\u5011\u5c0d\u672a\u4f86\u79fb\u52d5\u51fa\u884c\u3001\u623f\u5730\u7522\u3001\u98df\u54c1\u7b49\u7684\u770b\u6cd5\uff1f\u6211\u9700\u8981\u9019\u56db\u500b\u56e0\u7d20\u90fd\u662f\u96c6\u9ad4\u771f\u5be6\u7684\u3002\u56e0\u6b64\uff0c\u5728\u4e00\u5c0f\u6642\u7684\u96fb\u8a71\u6703\u8b70\u4e4b\u5f8c\uff0c\u6211\u5011\u6703\u9032\u884c\u8a55\u4f30\u9019\u56db\u4ef6\u4e8b\u7684\u5f59\u5831\uff0c\u4e26\u5728\u6bcf\u9031\u4e8c\u63d0\u4ea4\u7d66\u6211\u5011\u7684\u6295\u8cc7\u59d4\u54e1\u6703\u3002\u6211\u5011\u5be9\u67e5\u4e86 40 \u5230 50 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\u662f\u4ec0\u9ebc\u7684\u8cc7\u8a0a\uff0c\u4ee5\u53ca\u4ed6\u5011\u5982\u4f55\u985b\u8986\u6b50\u6d32\u5206\u985e\u5ee3\u544a\u5e02\u5834\u985e\u5225\uff0c\u5c24\u5176\u662f\u5728\u6642\u5c1a\u9818\u57df\u3002\u6211\u5011\u5f9e\u5916\u90e8\u89c0\u5bdf\u5230\u7684\u662f\uff0c\u4ed6\u5011\u901a\u904e\u6e1b\u5c11\u8de8\u5883\u4ea4\u6613\u5728\u822a\u904b\u65b9\u9762\u7372\u5f97\u4e86\u5275\u65b0\u548c\u7d93\u6fdf\u6548\u76ca\uff0c\u800c\u4e14\u4ed6\u5011\u4e5f\u901a\u904e\u5f9e\u8ce3\u65b9\u8cbb\u7528\u8f49\u5411\u9019\u7a2e\u6709\u8da3\u7684\u8cb7\u5bb6\u4fdd\u8b77\u6a21\u5f0f\uff0c\u5728\u5546\u696d\u6a21\u5f0f\u4e0a\u9032\u884c\u4e86\u5275\u65b0\u3002\u5982\u679c\u80fd\u807d\u5230\u4e00\u4e9b\u95dc\u65bc\u9019\u4e9b\u4e8b\u60c5\u70ba\u4ec0\u9ebc\u6703\u6539\u8b8a\u904a\u6232\u898f\u5247\uff0c\u4ee5\u53ca\u5b83\u6700\u7d42\u5c0e\u81f4\u4ec0\u9ebc\uff0c\u90a3\u5c07\u662f\u4e00\u4ef6\u6709\u8da3\u7684\u4e8b\u60c5\uff0c\u56e0\u70ba\u9019\u662f\u76ee\u524d\u6b50\u6d32\u6700\u6709\u50f9\u503c\u7684\u898f\u6a21\u5316\u4f01\u696d\u4e4b\u4e00\uff0c\u4f30\u503c\u70ba50\u5104\u7f8e\u5143\u3002  <\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u6240\u4ee5 Vinted \u6700\u521d\u662f\u6b50\u6d32\u7684 Poshmark\uff0c\u800c\u4e14\u6548\u679c\u9084\u4e0d\u932f\u3002\u5b83\u7531 Berta \u548c Inside \u7b49\u516c\u53f8\u8cc7\u52a9\uff0c\u5b83\u589e\u9577\u5230 1 \u5104 GMV\uff0c\u5b83\u5f9e\u8ce3\u5bb6\u90a3\u88e1\u62ff\u8d70\u4e86 15% \u5230 20%\u3002\u554f\u984c\u662f\u5b83\u5e73\u6574\u4e86\uff0c\u60c5\u6cc1\u4e0d\u662f\u5f88\u597d\uff0c\u800c\u4e14\u4ed6\u5011\u6b63\u5728\u8e29\u6c34\u3002\u4ed6\u5011\u627e\u5230\u4e86\u4e00\u500b\u8207\u6211\u4e00\u8d77\u5de5\u4f5c\u7684\u4eba\uff0c\u73fe\u5728\u662fVinted\u7684\u9996\u5e2d\u57f7\u884c\u5b98Thomas\uff0c\u53bb\u5e6b\u52a9\u4ed6\u5011\u3002\u6211\u5011\u5728 Thomas \u4e0a\u4efb\u6642\u9032\u884c\u4e86\u6295\u8cc7\uff0c\u8a08\u5283\u5be6\u969b\u4e0a\u975e\u5e38\u7c21\u55ae\uff0c\u5c31\u662f\u5be6\u65bd\u6211\u5b9a\u7fa9\u7684\u5206\u985e\u5ee3\u544a 3.0 \u5287\u672c\u3002    <\/p>\n\n<p>\u6211\u5beb\u4e86\u90a3\u500b\u5287\u672c\u61c9\u8a72\u5728\u7684\u5730\u65b9\uff0c\u4e8b\u5be6\u4e0a\uff0c\u5b83\u5728 2012 \u5e74\u590f\u5929\u5c31\u5728\u6211\u7684\u535a\u5ba2\u4e0a\uff0c\u6240\u4ee5\u5f88\u65e9\u5c31\u5beb\u4e86\u3002\u6211\u7576\u6642\u60f3\uff0c\u201c\u5206\u985e\u5ee3\u544a\u7684\u672a\u4f86\u662f\u4ea4\u6613\u6027\u7684\uff0c\u4f60\u5c07\u5728\u8a17\u7ba1\u4e2d\u5167\u7f6e\u904b\u8f38\uff0c\u5b83\u5c07\u7531\u8cb7\u5bb6\u4ed8\u6b3e\u3002\u5176\u80cc\u5f8c\u7684\u60f3\u6cd5\u662f\uff0c\u901a\u904e\u8cb7\u65b9\u4ed8\u6b3e\uff0c\u70ba\u670d\u52d9\u4ed8\u8cbb\u7684\u4eba\u5c31\u662f\u7372\u5f97\u50f9\u503c\u7684\u4eba\u3002\u56e0\u6b64\uff0c\u5982\u679c\u60a8\u5728\u8ce3\u5bb6\u90a3\u88e1\u4e0a\u9580\u53d6\u8ca8\uff0c\u8ce3\u5bb6\u6703\u652f\u4ed8\u8cbb\u7528\uff0c\u56e0\u70ba\u4ed6\u5011\u662f\u7372\u5f97\u50f9\u503c\u7684\u4eba\u3002\u5982\u679c\u60a8\u6709\u8a17\u7ba1\u670d\u52d9\uff0c\u8cb7\u5bb6\u53ef\u4ee5\u8aaa\uff0c\u201c\u597d\u5427\uff0c\u9019\u4e0d\u662f\u6b63\u78ba\u7684\u7269\u54c1\u3002\u6211\u4e0d\u60f3\u70ba\u6b64\u4ed8\u8cbb\u3002\u9019\u662f\u8cb7\u65b9\u5f9e\u4e2d\u53d7\u76ca\uff0c\u800c\u5b83\u88ab\u904b\u9001\u5230\u4ed6\u5011\u624b\u4e2d\u662f\u4ed6\u5011\u70ba\u6b64\u4ed8\u8cbb\u3002     <\/p>\n\n<p>\u6240\u4ee5\u4f60\u57fa\u672c\u4e0a\u61c9\u8a72\u5411\u6709\u50f9\u503c\u7684\u4eba\u6536\u8cbb\u3002\u6211\u5011\u610f\u8b58\u5230\uff0c\u5c24\u5176\u662f\u5728\u65b0\u8208\u5e02\u5834\uff0c\u4e8b\u5be6\u8b49\u660e\u5b83\u4e5f\u9069\u7528\u65bc\u897f\u6b50\uff0c\u8ce3\u5bb6\u5c0d\u50f9\u683c\u975e\u5e38\u654f\u611f\u3002\u800c\u7576\u4f60\u53d6\u6d88\u8ce3\u5bb6\u8cbb\u7528\u7684\u90a3\u4e00\u523b\uff0c\u6d41\u52d5\u6027\u548c\u5eab\u5b58\u6025\u5287\u589e\u52a0\uff0c\u7834\u58de\u5e73\u81fa\u7684\u610f\u9858\u6025\u5287\u4e0b\u964d\u3002\u56e0\u6b64\uff0cVinted \u7684\u7b2c\u4e00\u6b65\u662f\u61c9\u7528 OLX \u5287\u672c\u3002\u81ea\u7531\u6d3b\u52d5\uff0c\u9032\u884c\u5927\u898f\u6a21\u7684\u96fb\u8996\u5ba3\u50b3\uff0c\u92b7\u91cf\u5448\u7206\u70b8\u5f0f\u589e\u9577\u3002\u56e0\u6b64\uff0c\u9996\u5148\u8981\u9032\u884c\u5206\u985e\u5ee3\u544a\u7684\u8ad6\u9ede\uff0c\u975e\u4ea4\u6613\u6027\u7684\uff0c\u800c\u4e0d\u662f\u6536\u53d6\u50ad\u91d1\uff0c\u7d55\u5c0d\u9069\u7528\u65bc\u6642\u5c1a\u754c\uff0c\u5b83\u8207 30\u300140 \u6b50\u5143\u985e\u578b\u7684\u6642\u5c1a\u5546\u54c1\u985e\u5225\u7684\u7522\u54c1\u7279\u5225\u6709\u6548\u3002     <\/p>\n\n<p>\u7b2c\u4e8c\u968e\u6bb5\u662f\u5be6\u65bd\u4ea4\u6613\u985e\u5225\uff0c\u6211\u5011\u7684\u696d\u52d9\u5411\u8cb7\u65b9\u6536\u8cbb\uff0c\u9019\u662f\u4e00\u7a2e\u5275\u65b0\u7684\u5546\u696d\u6a21\u5f0f\uff0c\u5728\u90a3\u4e4b\u524d\u6c92\u6709\u4eba\u9019\u6a23\u505a\u3002\u6211\u60f3\u6211\u5011\u662f\u5728\u540c\u4e00\u6642\u9593\u6216\u591a\u6216\u5c11\u5728\u540c\u4e00\u6642\u9593\u5b8c\u6210\u7684 [inaudible 00:41:09] \uff0c\u56e0\u70ba\u540c\u6a23\uff0c\u5b83\u61c9\u7528\u4e86\u6211\u5728 OLX \u6642\u5b9a\u7fa9\u7684\u7b56\u7565\uff0c\u5b83\u771f\u7684\u975e\u5e38\u6709\u6548\u3002\u5b83\u5728\u6cd5\u570b\u78ba\u5be6\u594f\u6548\u4e86\uff0c\u90a3\u88e1\u7684\u5438\u6536\u7387\u9ad8\u9054 90%\u3002\u56e0\u6b64\uff0c\u7576\u7136\uff0c\u5b83\u9996\u5148\u5f9e 15% \u5230 0\uff0c\u6216\u8005 3 \u96a8\u8457\u589e\u52a0\u548c\u5ee3\u544a\u7b49\uff0c\u7136\u5f8c\u53c8\u56de\u5230 10%\u3002   <\/p>\n\n<p>\u96a8\u8457\u5b83\u594f\u6548\uff0cThomas \u4e0d\u65b7\u5275\u65b0\u3002\u4ed6\u5b8c\u6210\u4e86\u6e05\u55ae\u7684\u81ea\u52d5\u7ffb\u8b6f\uff0c\u5c0d\u8a71\u7684\u81ea\u52d5\u7ffb\u8b6f\uff0c\u4ed6\u8207\u90f5\u5c40\u8ac7\u5224\u4e86\u9019\u4e9b\u8de8\u5883\u4ea4\u6613\uff0c\u4ee5\u4fbf\u80fd\u5920\u904b\u9001\u5230\u6b50\u6d32\u5404\u5730\u4e26\u5275\u9020\u771f\u6b63\u7684\u6d41\u52d5\u6027\u3002\u90a3\u9ebc\uff0c\u5982\u679c\u4f60\u5728 Leboncoin\uff0c\u4e5f\u5c31\u662f\u6cd5\u570b\u7684 Chrysalis\uff0c\u5b83\u53ea\u662f\u6cd5\u570b\u7684\u6e05\u55ae\u3002\u90a3\u88e1\u7684\u6d41\u52d5\u6027\u4e26\u4e0d\u80fd\u5e6b\u52a9\u4ed6\u5011\u53bb\u5176\u4ed6\u570b\u5bb6\u3002Vinted \u5728\u6cd5\u570b\u4f54\u64da\u4e3b\u5c0e\u5730\u4f4d\uff0c\u4ed6\u5011\u8aaa\uff0c\u300c\u563f\uff0c\u6211\u5011\u70ba\u4ec0\u9ebc\u4e0d\u5229\u7528\u9019\u4e9b\u6d41\u52d5\u6027\u53bb\u897f\u73ed\u7259\u3001\u7fa9\u5927\u5229\u3001\u82f1\u570b\u3001\u5fb7\u570b\u5462\uff1f    <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u56e0\u70ba\u60a8\u5728\u4f9b\u61c9\u5074\u6709\u5167\u7f6e\u7684\u6d41\u52d5\u6027\u3002<\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u5b8c\u5168\u3002 \u5b83\u904b\u4f5c\u5f97\u975e\u5e38\u597d\uff0c\u5ef6\u7e8c\u4e86\u5927\u898f\u6a21\u96fb\u8996\u5ee3\u544a\u7684\u5287\u672c\uff0c\u5efa\u7acb\u4f9b\u9700\uff0c\u5275\u9020\u6d41\u52d5\u6027\uff0c\u64c1\u6709\u6700\u4f4e\u7684\u6210\u672c\u7d50\u69cb\uff0c\u6240\u4ee5\u5176\u4ed6\u4eba\uff0c\u4e16\u754c\u4e0a\u7684\u5df4\u65af\u8482\u723e\u4eba\u62ff\u4e86 15%\u300120%\uff0c\u901a\u904e\u8b93\u6574\u500b\u5718\u968a\u5728\u7acb\u9676\u5b9b\u5de5\u4f5c\u4e26\u8d85\u7d1a\u81ea\u5f8b\u7684\u6210\u672c\u4f86\u63d0\u9ad8\u50f9\u683c\u9ede\uff0c \u4ed6\u5011\u53ef\u4ee5\u524a\u5f31\u6240\u6709\u4eba\u4e26\u66f4\u5feb\u5730\u767c\u5c55\u3002\u53bb\u5e74\uff0c\u5047\u8a2d\u4ed6\u5011\u7684 GMV \u70ba 60 \u5104\uff0c\u5ee3\u544a\u6536\u5165\u70ba 6 \u5104\uff0c\u81ea\u7531\u73fe\u91d1\u6d41\u70ba 8000 \u842c\uff0c\u4ed6\u5011\u5728\u9280\u884c\u6709 400 \u6216 5 \u5104\uff0c\u5728\u82f1\u570b\u6709 50% \u7684 EBITDA \u7372\u5229\u7387\uff0c\u5728\u6cd5\u570b\u6709 45% \u7684 EBITDA \u7372\u5229\u7387\u3002 <\/p>\n\n<p>\u6211\u5011\u7684\u8a08\u5283\u662f\u5c07\u9019\u7a2e\u6c34\u6e96\u7684\u6210\u529f\u5e36\u5230\u4ed6\u5011\u6240\u5728\u7684\u6240\u6709\u5176\u4ed6\u570b\u5bb6\uff0c\u7b2c\u4e00\u3002\u7b2c\u4e8c\uff0c\u64f4\u5c55\u5230\u5962\u4f88\u54c1\u3002\u4e00\u5e74\u5167\uff0c\u4ed6\u5011\u5df2\u7d93\u548c\u4eca\u5e74\u4e00\u6a23\u5927\u4e86\uff0c\u800c\u4e14\u6c92\u6709\u82b1\u9322\u4f86\u589e\u52a0\u5962\u4f88\u54c1\u7684\u8a8d\u8b49\u3002\u7b2c\u4e09\uff0c\u6dfb\u52a0\u6536\u85cf\u54c1\uff0c\u7b2c\u56db\uff0c\u6dfb\u52a0\u96fb\u5b50\u7522\u54c1\u3002\u4e5f\u8a31\u7b2c\u4e94\u500b\uff0c\u5728\u9059\u9060\u7684\u5c07\u4f86\uff0c\u4e5f\u8a31\u6703\u53bb\u7f8e\u570b\uff0c\u8ab0\u77e5\u9053\u5462\uff1f\u4f46\u7d55\u5c0d\u662f\u7b2c\u4e00\uff0c\u50c5\u50c5\u8d0f\u5f97\u6b50\u6d32\u5176\u4ed6\u5730\u5340\u7684\u76f8\u540c\u6c34\u6e96\u800c\u4e0d\u9032\u5165\u65b0\u7684\u985e\u5225\u5c31\u662f\u4e00\u5bb6 150 \u5104\u7f8e\u5143\u7684\u516c\u53f8\uff0c\u8d0f\u5f97\u5176\u4ed6\u4e00\u4e9b\u985e\u5225\uff0c\u6bd4\u5982\u5962\u4f88\u54c1\u662f\u4e00\u5bb6 500 \u5104\u7f8e\u5143\u7684\u516c\u53f8\uff0c\u7136\u5f8c\u53ef\u80fd\u662f 100 \u7f8e\u5143\uff0c\u7136\u5f8c\u9032\u5165\u7f8e\u570b\uff0c\u4e5f\u8a31\u66f4\u591a\u3002\u6240\u4ee5\u6211\u8a8d\u70ba\u9019\u5bb6\u516c\u53f8\u6b63\u5728\u6495\u88c2\u3002\u6211\u81f3\u5c11\u5728\u627f\u4fdd 3-X\uff0c\u4e5f\u8a31 10-X \u53ef\u80fd\u5f9e\u9019\u88e1\u958b\u59cb\u662f\u76f8\u7576\u9ad8\u7684\u3002Thomas \u662f\u4e00\u53f0\u6a5f\u5668;\u5728\u4ed6\u7372\u52dd\u4e4b\u524d\uff0c\u4ed6\u4e0d\u6703\u505c\u4e0b\u4f86\u3002        <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u8b93\u6211\u5011\u66ab\u6642\u8f49\u5411 Quince \u3002\u9019\u662f\u5c0d\u8ca0\u64d4\u5f97\u8d77\u7684\u5962\u4f88\u54c1\u7684\u73a9\u7b11\u3002\u8acb\u544a\u8a34\u6211\u5011\u4e00\u4e9b\u95dc\u65bc\u9019\u9805\u696d\u52d9\u662f\u5982\u4f55\u84ec\u52c3\u767c\u5c55\u7684\uff0c\u4ee5\u53ca\u60a8\u5728\u5287\u672c\u548c\u5546\u696d\u6a21\u5f0f\u5275\u65b0\u65b9\u9762\u505a\u4e86\u4ec0\u9ebc\uff0c\u4f7f\u9019\u9805\u696d\u52d9\u6210\u70ba\u8a72\u985e\u5225\u7684\u6210\u529f\u985b\u8986\u8005\uff1f  <\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u76f4\u63a5\u9762\u5411\u6d88\u8cbb\u8005\u7684\u54c1\u724c\u4e26\u4e0d\u65b0\u9bae\u3002\u4ed6\u5011\u5728\u904e\u53bb\u5e7e\u5341\u5e74\u88e1\u5df2\u7d93\u6210\u719f\u8d77\u4f86\uff0c\u4f46\u5be6\u969b\u4e0a\u4ed6\u5011\u90fd\u6c92\u6709\u505a\u5f97\u7279\u5225\u597d\u3002\u4f60\u770b\u770b Warby 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\u4e0a\u7121\u6cd5\u5728\u7d50\u69cb\u4e0a\u89e3\u6c7a\u5b83\u3002\u5be6\u969b\u4e0a\uff0c\u597d\u6d88\u606f\u662f\u5275\u59cb\u4eba\u770b\u5230\u4e86\u9019\u4e9b\u554f\u984c\uff0c\u4e26\u8457\u624b\u89e3\u6c7a\u9019\u4e9b\u554f\u984c\u3002\u56e0\u6b64\uff0c\u6211\u975e\u5e38\u6a02\u89c0\uff0c\u56e0\u70ba\u6211\u5011\u5728\u591a\u500b\u6876\u4e2d\u767c\u73fe\u4e86\u8c50\u5bcc\u7684\u8cc7\u6e90\u3002\u6240\u4ee5\u9996\u5148\uff0c\u80fd\u91cf\u8c50\u5bcc\u3002\u73fe\u5728\uff0c\u60a8\u64c1\u6709\u8c50\u5bcc\u7684\u8a08\u7b97\u80fd\u529b\u3002\u5c31\u50cf 1970 \u5e74\u4ee3\u4e00\u6a23\uff0c\u8a08\u7b97\u80fd\u529b\u6975\u5176\u6709\u9650\u3002\u60a8\u53ea\u6703\u5c07\u5176\u7528\u65bc\u975e\u5e38\u9ad8\u50f9\u503c\u7684\u4ea4\u6613\u3002\u4eca\u5929\uff0c\u5b83\u662f\u5982\u6b64\u7121\u9650\uff0c\u4f60\u7684\u53e3\u888b\u88e1\u6709\u8d85\u7d1a\u8a08\u7b97\u6a5f\uff0c\u4f60\u53ef\u4ee5\u505a\u4efb\u4f55\u4e8b\u60c5\u3002             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     <\/p>\n\n<p>\u4e00\u65e6\u4f60\u80fd\u6d6a\u8cbb\u80fd\u6e90\uff0c\u4f60\u5c31\u53ef\u4ee5\u505a\u4e0d\u5e73\u51e1\u7684\u4e8b\u60c5\u3002\u4eba\u5011\u8aaa\uff0c\u201c\u54e6\uff0c\u6211\u5011\u7684\u6de1\u6c34\u5feb\u7528\u5b8c\u4e86\u3002\u9019\u5be6\u969b\u4e0a\u4e0d\u662f\u771f\u7684\u3002\u4e16\u754c\u4e0a 70% \u7684\u9762\u7a4d\u662f\u6c34\u3002\u4f60\u53ef\u4ee5\u6de1\u5316\u6de1\u6c34\uff0c\u6216\u8005\u4f60\u53ef\u4ee5\u7528\u7121\u9650\u7684\u96fb\u4f86\u6de1\u5316\u9e7d\u6c34\u3002\u6211\u5728\u7279\u514b\u65af\u548c\u51f1\u79d1\u65af\u7fa4\u5cf6\u7684\u623f\u5b50\u91cc\u6709\u4e00\u500b\u6d77\u6c34\u6de1\u5316\u7cfb\u7d71\u3002\u6211\u5011\u6bcf\u5929\u751f\u7522 5,000 \u52a0\u4f96\u3002\u6211\u7684\u6c34\u8cbb\u662f\u6bcf\u6708 10K\u3002\u6a5f\u5668\u662f 72K\u3002        <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u54c7\u3002<\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u6211\u7684\u610f\u601d\u662f\uff0c\u5b83\u5728 7 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        <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u662f\u7684\u3002 \u56e0\u6b64\uff0c\u6211\u5011\u4f3c\u4e4e\u5f9e\u672a\u771f\u6b63\u5f9e\u6280\u8853\u901a\u7e2e\u4e2d\u7372\u5f97\u6574\u9ad4\u597d\u8655\u7684\u985e\u5225\u662f\u623f\u5c4b\u3001\u6559\u80b2\u548c\u91ab\u7642\u4fdd\u5065\uff0c\u6211\u5011\u5728\u672a\u4f86 5 \u5230 10 \u5e74\u5167\u6703\u770b\u5230\u597d\u8f49\u55ce\uff1f<\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u56e0\u6b64\uff0c\u53d7\u5230\u9ad8\u5ea6\u76e3\u7ba1\u548c\/\u6216\u7531\u516c\u5171\u670d\u52d9\u4e3b\u5c0e\u7684\u54c1\u985e\u7684\u5275\u65b0\u901f\u5ea6\u8981\u6162\u5f97\u591a\uff0c\u4f46\u5b83\u5011\u662fGDP\u7684\u91cd\u8981\u7d44\u6210\u90e8\u5206\uff0c\u6211\u5011\u5c07\u770b\u5230\u5275\u65b0\u3002\u6211\u5011\u5728\u4e09\u500b\u5c64\u9762\u4e0a\u770b\u5230\u4e86\u5275\u65b0\u3002\u6240\u4ee5\u9996\u5148\uff0c\u6559\u80b2\u662f\u770b\u5230\u5b83\uff0c\u4f60\u53ea\u662f\u6c92\u6709\u5728\u50b3\u7d71\u5b78\u6821\u6559\u80b2\u7cfb\u7d71\u7684\u80cc\u666f\u4e0b\u770b\u5230\u5b83\u3002\u4f46\u73fe\u5728\uff0c\u5982\u679c\u4f60\u662f\u5370\u5ea6\u4e00\u500b\u8d85\u7d1a\u7a4d\u6975\u3001\u6c42\u77e5\u6b32\u5f37\u7684\u5b78\u751f\uff0c\u4f60\u5be6\u969b\u4e0a\u53ef\u4ee5\u5728YouTube\u4e0a\u5b78\u7fd2\u4efb\u4f55\u6771\u897f\u3002\u60a8\u53ef\u4ee5\u9032\u5165 Coursera\uff0c\u8207\u4e16\u754c\u4e0a\u6700\u597d\u7684\u6559\u6388\u4e00\u8d77\u4e0a\u4efb\u4f55\u60a8\u60f3\u8981\u7684\u8ab2\u7a0b\u3002\u662f\u7684\uff0c\u4f60\u6c92\u6709\u5f97\u5230\u6587\u6191\uff0c\u4f46\u4f60\u5f97\u5230\u4e86\u77e5\u8b58\u3002\u73fe\u5728\uff0c\u6211\u7684\u8a31\u591a\u521d\u5275\u516c\u53f8\u5728\u62db\u8058\u7a0b\u5e8f\u5e2b\u6642\uff0c\u53ef\u4ee5\u662f\u4efb\u4f55\u5e74\u9f61\uff0c\u53ef\u4ee5\u5728\u4efb\u4f55\u570b\u5bb6\uff0c\u4e0d\u9700\u8981\u4e0a\u904e\u5b78\u3002\u6211\u5011\u53ea\u662f\u8981\u7d66\u4ed6\u5011\u7a0b\u5f0f\u8a2d\u8a08\u6e2c\u8a66\u3002\u5982\u679c\u4ed6\u5011\u80fd\u5f88\u597d\u5730\u7a0b\u5f0f\u8a2d\u8a08\uff0c\u6211\u5011\u5c31\u6703\u96c7\u7528\u4ed6\u5011\u3002        <\/p>\n\n<p>\u56e0\u6b64\uff0c\u5b83\u6b63\u5728\u5fb9\u5e95\u6539\u8b8a\u8a8d\u8b49\u3002\u5c31\u50cf\u5b57\u9762\u610f\u601d\u4e00\u6a23\uff0c\u4f60\u5728\u505a\u4ec0\u9ebc\u65b9\u9762\u505a\u5f97\u5f88\u68d2\u55ce\uff1f\u9806\u4fbf\u8aaa\u4e00\u53e5\uff0c\u6211\u4e0d\u64d4\u5fc3\u5de5\u4f5c\u7684\u90e8\u5206\u539f\u56e0\u662f\uff0c\u4eba\u985e\u52a0\u4eba\u5de5\u667a\u6167\u53ef\u80fd\u6bd4\u4eba\u5de5\u667a\u6167\u6216\u4eba\u985e\u8981\u597d\u5f97\u591a\uff0c\u6211\u5011\u5c07\u8207\u6280\u8853\u5408\u4f5c\u3002\u6240\u4ee5\u6559\u80b2\u5df2\u7d93\u5728\u767c\u751f\u3002\u6211\u7684\u610f\u601d\u662f\uff0cKhanmigo \u6b63\u5728\u6559 K \u5230 12 \u6b72\u7684\u5b69\u5b50\uff0c\u4f7f\u7528\u8607\u683c\u62c9\u5e95\u65b9\u6cd5\u6559\u4ed6\u5011\u6578\u5b78\u3002\u6211\u7684\u610f\u601d\u662f\uff0c\u5728\u79d1\u5b78\u65b9\u9762\uff0c\u6211\u5011\u770b\u5230\u4e86\u85e5\u7269\u767c\u73fe\u7684\u9032\u6b65\u3002Alpha Fold \u5728\u5275\u9020\u65b0\u85e5\u65b9\u9762 100% \u767c\u63ee\u8457\u76f8\u7576\u5927\u7684\u4f5c\u7528\u3002\u7f8e\u570b\u91ab\u7642\u4fdd\u5065\u7cfb\u7d71\u7684\u5927\u90e8\u5206\u8cbb\u7528\u5be6\u969b\u4e0a\u662f\u975e\u91ab\u7642\u7684\u3002\u5b83\u5011\u662f\u6211\u5011\u5275\u5efa\u4e86\u4e00\u500b\u5b8c\u5168\u7e41\u7463\u3001\u611a\u8822\u7684\u7d19\u8cea\u7cfb\u7d71\u7684\u958b\u92b7\u3002\u4f60\u53bb\u611b\u6c99\u5c3c\u4e9e\uff0c\u4ed6\u5011\u57fa\u672c\u4e0a\u628a\u6240\u6709\u4e8b\u60c5\u90fd\u81ea\u52d5\u5316\u4e86\u3002\u5c31\u50cf\u5728\u7dda\u75c5\u6b77\u4e00\u6a23\uff0c\u4e00\u5207\u3002\u53bb\u770b\u91ab\u751f\uff0c\u5efa\u8b70\u53bb\u770b\u5c08\u5bb6\uff0c\u4ed8\u6b3e\uff0c\u4e00\u5207\u90fd\u662f\u5728\u7dda\u548c\u81ea\u52d5\u5316\u7684\u3002\u5341\u5e74\u4f86\u4e00\u76f4\u5982\u6b64\u3002\u6240\u4ee5\u6211\u8a8d\u70ba\u6709\u5de8\u5927\u7684\u6a5f\u6703\u6703\u958b\u59cb\u51fa\u73fe\u3002\u516c\u5171\u670d\u52d9\u4e5f\u662f\u5982\u6b64\u3002              <\/p>\n\n<p>\u4f4f\u623f\u3002\u4f4f\u623f\u7684\u4e3b\u8981\u554f\u984c\u5be6\u969b\u4e0a\u662f\u76e3\u7ba1\u3002\u56e0\u6b64\uff0c\u6211\u5011\u901a\u904e\u64c1\u6709\u7a7a\u4e2d\u6b0a\u548c\u5730\u6a19\u7b49\u4f86\u4eba\u70ba\u5730\u9650\u5236\u4f9b\u61c9\u3002\u986f\u7136\uff0c\u4e2d\u592e\u516c\u5712\u6c92\u6709\u5efa\u9020\uff0c\u4f46\u5927\u591a\u6578\u5176\u4ed6\u6771\u897f\u4e0d\u9700\u8981\u4fdd\u8b77\u3002\u50cf NEPA \u9019\u6a23\u7684\u6771\u897f\u5df2\u7d93\u88ab\u6b66\u5668\u5316\uff0c\u57fa\u672c\u4e0a\u8ce6\u4e88\u4e86 &#8211;    <\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>&#8230;\u654f\u6377\u4e3b\u7fa9\u3002\u6240\u4ee5\u6211\u5011\u6c92\u6709\u6f5b\u5728\u7684\u5efa\u7bc9\u6210\u672c\u554f\u984c\uff0c\u662f\u7684\uff0c\u6211\u5011\u53ef\u4ee5\u5728\u9810\u88fd\u4ef6\u7b49\u65b9\u9762\u505a\u5f88\u591a\u4e8b\u60c5\uff0c\u6839\u672c\u554f\u984c\u5be6\u969b\u4e0a\u662f\u570d\u7e5e\u5efa\u7bc9\u7684\u76e3\u7ba1\u5236\u5ea6\u3002\u4e09\u85e9\u5e02 80% 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GPT\u3002\u5b83\u5c07\u5275\u5efa\u6458\u8981\u548c\u5206\u6790\u3002\u6211\u7684\u610f\u601d\u662f\uff0c\u6709\u6642\u9019\u662f\u932f\u8aa4\u7684\uff0c\u4f46\u9019\u662f\u4e0d\u53ef\u601d\u8b70\u7684\u3002               <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u9019\u771f\u662f\u592a\u4e86\u4e0d\u8d77\u4e86\u3002\u6211\u5011\u5728\u54ea\u88e1\u53ef\u4ee5\u8207\u865b\u64ec\u7684 Fabrice \u4ea4\u8ac7\uff1f <\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u6240\u4ee5\u5982\u679c\u4f60\u53bb\u6211\u7684\u535a\u5ba2 Fabricegrinda.com\uff0c\u6709\u4e00\u500b Fabrice AI \u7684\u9023\u7d50\uff0c\u5b83\u7684\u6e96\u78ba\u6027\u4ee4\u4eba\u9707\u9a5a\u3002\u4f60\u53ef\u4ee5\u554f\u6211\u5011\u7684\u8ad6\u6587\u662f\u4ec0\u9ebc\uff0c\u5c0d\u4f60\u7684\u5275\u696d\u60f3\u6cd5\u7684\u53cd\u994b\u662f\u4ec0\u9ebc\uff0c\u7cfb\u5217\u7a2e\u5b50\u6216 A 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<\/p>\n\n<p>\u4e0b\u4e00\u500b\u7248\u672c\u662f\uff0c\u6211\u5c07\u64c1\u6709\u6211\u7684\u6578\u4f4d\u5316\u8eab\uff0c\u4e0a\u9762\u6709\u6211\u7684\u81c9\u3001\u8096\u50cf\u548c\u8072\u97f3\uff0c\u4f60\u5c07\u80fd\u5920\u8207\u5b83\u4ea4\u8ac7\u6216\u8b93\u5b83\u8207\u4f60\u4ea4\u8ac7\u3002\u60a8\u53ef\u4ee5\u76f4\u63a5\u6216\u901a\u904e\u7c21\u8a0a\u8207\u4e4b\u4ea4\u8ac7\u3002\u7136\u5f8c\u6211\u5617\u8a66\u7de8\u5beb\u4ee3\u78bc\uff0c\u4e0d\u4fdd\u8b49\u5b83\u662f\u5426\u6709\u6548\uff0cPitch Fabrice AI\uff0c\u73fe\u5728\uff0c\u6b63\u5982\u6211\u4e4b\u524d\u6240\u8aaa\uff0c\u6211\u5011\u6536\u5230 300 \u500b\u63d0\u6848\uff0c\u6211\u5011\u63a5\u807d 50 \u500b\u96fb\u8a71\uff0c\u6211\u5011\u5f97\u5230\u4ed6\u5011\u7684\u5f59\u5831\uff0c\u7136\u5f8c\u6211\u53ef\u80fd\u8207 5 \u500b\u4ea4\u8ac7\u3002\u5b83\u5c07\u5141\u8a31 250 \u4eba\uff0c\u5766\u7387\u5730\u8aaa\uff0c295 \u4eba\u8207\u6211\u7684\u67d0\u500b\u7248\u672c\u4ea4\u8ac7\u4e26\u7372\u5f97\u6709\u95dc\u4ed6\u5011\u60f3\u6cd5\u7684\u53cd\u994b\u3002\u5982\u679c\u5b83\u6709\u6548\u3002    <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u60a8\u662f\u5426\u770b\u5230\u865b\u64ec\u7684 Fabrice \u5750\u5728\u60a8\u7684\u6295\u8cc7\u59d4\u54e1\u6703\u4e2d\u4e26\u5728\u672a\u4f86\u505a\u51fa\u6295\u8cc7\u6c7a\u7b56\uff1f<\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u5b83\u6703\u63d0\u51fa\u5efa\u8b70\u3002\u6211\u5011\u6703\u770b\u770b\u5b83\u6703\u6709\u591a\u597d\u3002\u807d\u8457\uff0c\u6211\u53ea\u6709\u5728\u6211\u559c\u6b61\u5f59\u5831\u7684\u60c5\u6cc1\u4e0b\u624d\u6703\u4e0a\u7dda\u3002\u6240\u4ee5\u5f88\u660e\u986f\uff0c\u8f38\u5165\u662f\u5e7b\u71c8\u7247\uff0c\u6211\u5011\u8207\u5275\u59cb\u4eba\u7684\u73fe\u6709\u5c0d\u8a71\u8a18\u9304\uff0c\u7136\u5f8c\u662f\u6211\u5011\u7684\u5f59\u5831\u548c\u5efa\u8b70\u3002\u5982\u679c\u6211\u7d66\u5b83\u9935\u98df\u6578\u5343\u500b\u9019\u6a23\u7684\u98fc\u6599\uff0c\u5b83\u80fd\u5f97\u5230\u76f8\u7576\u6e96\u78ba\u6216\u826f\u597d\u7684\u98fc\u6599\u55ce\uff1f\u9019\u771f\u7684\u662f\uff0c\u518d\u4e00\u6b21\uff0c\u516c\u5171\u670d\u52d9\u4eba\u6027\u6216\u9032\u5165\u5275\u59cb\u4eba\u3002\u6211\u80fd\u544a\u8a34\u4f60\u55ce\uff0c\u54e6\uff0c\u4f60\u7684\u55ae\u4f4d\u7d93\u6fdf\u6548\u76ca\u5df2\u7d93\u88ab\u6df9\u6c92\u4e86\uff0c\u6216\u8005\u4f60\u592a\u65e9\u4e86\uff0c\u518d\u548c\u98a8\u96aa\u6295\u8cc7\u516c\u53f8\u8ac7\u8ac7\uff0c\u4f60\u9700\u8981\u66f4\u591a\u7684\u727d\u5f15\u529b\u3002\u5148\u53bb\u670b\u53cb\u548c\u5bb6\u4eba\u56de\u5408\u3002\u6216\u8005\u4f5c\u70ba\u5275\u59cb\u4eba\uff0c\u4f60\u771f\u7684\u9700\u8981\u66f4\u96c4\u8faf\u5730\u8868\u9054\u4f60\u6240\u8ffd\u6c42\u7684\u63a8\u92b7\uff0c\u6216\u8005\u4f60\u6240\u8ffd\u6c42\u7684\u985e\u5225\u592a\u5c0f\u3002        <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u53f3\u3002<\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u5b83\u771f\u7684\u80fd\u5411\u5275\u59cb\u4eba\u63d0\u4f9b\u53ef\u884c\u7684\u53cd\u994b\u4ee5\u5e6b\u52a9\u4ed6\u5011\u55ce\uff1f\u7b54\u6848\u662f\u5426\u5b9a\u7684\u3002\u6211\u60f3\u8b93\u5b83\u4e0a\u7dda\u3002\u7b54\u6848\u662f\u80af\u5b9a\u7684\uff0c\u6211\u6703\u7684\u3002\u6240\u4ee5\u5f85\u5b9a\u3002\u4f46\u9019\u5c31\u662f\u6211\u73fe\u5728\u665a\u4e0a\u7de8\u78bc\u548c\u5de5\u4f5c\u7684\u5167\u5bb9\u3002     <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u975e\u5e38\u597d\u3002\u6700\u5f8c\u4e00\u500b\u7e3d\u7d50\u554f\u984c\u662f\uff0c\u9664\u4e86 LionTree \u64ad\u5ba2\u4e4b\u5916\uff0c\u60a8\u9084\u6709\u6700\u559c\u6b61\u7684\u64ad\u5ba2\u55ce\uff1f <\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u6211\u807d\u7684\u64ad\u5ba2\u4e0d\u591a\u3002\u6211\u8b80\u66f8\u6bd4\u4ec0\u9ebc\u90fd\u591a\u3002\u5728 Substack \u4e0a\uff0c\u6211\u6700\u559c\u6b61\u8b80\u7684\u6771\u897f\u53ef\u80fd\u662f Noah Pinyon \u6216 Noah Smith\uff0c\u4ed6\u5011\u5beb\u7d93\u6fdf\u5b78\u3001\u516c\u5171\u653f\u7b56\u7b49\u3002  <\/p>\n\n<p>\u5b89\u5854\u723e<\/p>\n\n<p>\u597d\u5427\uff0c\u592a\u68d2\u4e86\u3002Fabrice\uff0c\u77ad\u89e3 OLX \u7684\u6b77\u53f2\u3001\u60a8\u7684\u6295\u8cc7\u65b9\u5f0f\u4ee5\u53ca\u60a8\u5c0d\u4e16\u754c\u7684\u8a31\u591a\u770b\u6cd5\uff0c\u6211\u611f\u5230\u975e\u5e38\u9ad8\u8208\u3002\u975e\u5e38\u611f\u8b1d\u60a8\u4eca\u5929\u52a0\u5165 KindredCast\u3002  <\/p>\n\n<p>\u6cd5\u5e03\u88e1\u65af<\/p>\n\n<p>\u8b1d\u8b1d\u4f60\u9080\u8acb\u6211\u3002<\/p>\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6211\u8207 LionTree \u7684 Antal Runnebom \u5750 &hellip; <a href=\"https:\/\/grinda.org\/zh-hant\/liontree-%e7%9a%84-antal-runnebom-%e7%9a%84%e7%8d%b2%e5%8b%9d%e8%80%85%e6%9c%80%e5%8f%97%e9%97%9c%e6%b3%a8\/\" class=\"more-link\">\u95b1\u8b80\u5168\u6587<span class=\"screen-reader-text\">\u3008LionTree \u7684 Antal Runnebom \u7684\u7372\u52dd\u8005\u6700\u53d7\u95dc\u6ce8\u3009<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[778],"tags":[],"class_list":["post-52440","post","type-post","status-publish","format-standard","hentry","category-778"],"acf":[],"contentUpdated":"LionTree \u7684 Antal Runnebom \u7684\u7372\u52dd\u8005\u6700\u53d7\u95dc\u6ce8. Categories - \u63a1\u8a2a\u548c\u7210\u908a\u8ac7\u8a71. Date-Posted - 2025-03-04T14:57:08 . \n \u6211\u8207 LionTree \u7684 Antal Runnebom \u5750\u4e0b\u4f86\u3002\u6211\u5c0d\u7279\u5b9a\u5782\u76f4\u5e02\u5834\u7684\u6a5f\u6703\u63d0\u51fa\u4e86\u6211\u7684\u770b\u6cd5;FJ Labs \u9078\u64c7\u6211\u5011\u6295\u8cc7\u7684\u6578\u767e\u5bb6\u521d\u5275\u4f01\u696d\u7684\u904e\u7a0b;\u70ba\u4ec0\u9ebc\u4eba\u5f62\u6a5f\u5668\u4eba\u548c AI \u9a45\u52d5\u7684\u6295\u8cc7\u8005\u4f86\u5f97\u6bd4\u6211\u5011\u4efb\u4f55\u4eba\u90fd\u610f\u8b58\u5230\u7684\u8981\u5feb;\u4ee5\u53ca\u95dc\u65bc\u672a\u4f86\u80fd\u6e90\u8c50\u5bcc\u5c07\u5982\u4f55\u4f7f\u6211\u5011\u80fd\u5920\u201c\u6d6a\u8cbb\u80fd\u6e90\u201d\u767c\u660e\u4e0b\u4e00\u500b\u5f88\u9177\u7684\u6771\u897f\u7684\u9858\u666f\u3002 \n \u5982\u679c\u60a8\u9858\u610f\uff0c\u53ef\u4ee5\u5728\u5d4c\u5165\u5f0f\u64ad\u5ba2\u64ad\u653e\u6a5f\u4e2d\u6536\u807d\u8a72\u5287\u96c6\u3002\n 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\u662f\u4e00\u4f4d\u9023\u7e8c\u5275\u696d\u8005\u548c\u8d85\u7d1a\u5929\u4f7f\u30022006\u5e74\uff0c\u4ed6\u8207\u4ed6\u4eba\u5171\u540c\u5275\u7acb\u4e86OLX\uff0c\u9019\u662f\u4e00\u5bb6\u5168\u7403\u6578\u4f4d\u5206\u985e\u5ee3\u544a\u5e02\u5834\u985b\u8986\u8005\uff0c\u96a8\u5f8c\u88ab\u51fa\u552e\u7d66Naspers\uff0c\u4ed6\u5728\u90a3\u88e1\u4e00\u76f4\u5f85\u52302014\u5e74\u3002 \n \u5b89\u5854\u723e\n \u5f9e\u90a3\u6642\u8d77\uff0c\u4ed6\u4e00\u76f4\u81f4\u529b\u65bc\u901a\u904e FJ Labs \u5fb9\u5e95\u6539\u8b8a\u5e02\u5834\u548c\u6280\u8853\u751f\u614b\u7cfb\u7d71\uff0c\u5728\u90a3\u88e1\u4ed6\u9818\u5c0e\u4e86\u5c0d\u5168\u7403 1100 \u591a\u5bb6\u521d\u5275\u516c\u53f8\u7684\u6295\u8cc7\u3002Fabrice \u7684\u4e00\u4e9b\u6295\u8cc7\u5305\u62ec\u963f\u88e1\u5df4\u5df4\u3001Airbnb\u3001FanDuel\u3001Palantir\u3001Beepi\u3001Vinted\u3001Quince \u548c Figure AI \u7b49\u3002 \n \u5b89\u5854\u723e\n \u4eca\u5929\uff0c\u6211\u5011\u5c07\u63a2\u8a0e Fabrice \u7684\u5275\u696d\u6b77\u7a0b\u3001\u4ed6\u5728 FJ Labs \u7684\u6295\u8cc7\u7406\u5ff5\uff0c\u4ee5\u53ca\u4ed6\u5c0d\u5e02\u5834\u3001\u4eba\u5de5\u667a\u6167\u548c B2B \u521d\u5275\u516c\u53f8\u672a\u4f86\u7684\u770b\u6cd5\uff0c\u4e26\u6df1\u5165\u77ad\u89e3\u4ed6\u7684\u4e3b\u8981\u6295\u8cc7\u7d44\u5408\u516c\u53f8\u3002Fabrice\uff0c\u4eca\u5929\u975e\u5e38\u9ad8\u8208\u80fd\u9080\u8acb\u5230\u60a8\u4f86\u5230 KindredCast\u3002 \n \u5b89\u5854\u723e\n \u8b93\u6211\u5011\u5f9e\u60a8\u7684\u80cc\u666f\u958b\u59cb\u3002\u662f\u4ec0\u9ebc\u8b93\u60a8\u6700\u521d\u4f86\u5230\u7f8e\u570b\u4e26\u9032\u5165\u6280\u8853\u9818\u57df\uff1f \n \u6cd5\u5e03\u88e1\u65af\n \u6240\u4ee5\u6211\u5728\u6cd5\u570b\u5357\u90e8\u7684\u5c3c\u65af\u9577\u5927\u30021984\u5e74\uff0c10 \u6b72\u7684\u6211\u5f97\u5230\u4e86\u6211\u7684\u7b2c\u4e00\u53f0\u96fb\u8166\u3002\u4e00\u898b\u937e\u60c5\u3002\u5f9e\u90a3\u4e00\u523b\u8d77\uff0c\u6211\u77e5\u9053\u6211\u548c Computers 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\u842c\uff0c\u5728\u56db\u4e94\u500b\u570b\u5bb6\/\u5730\u5340\u8655\u65bc\u9818\u5148\u5730\u4f4d\u3002\u6700\u7d42\u53ef\u60b2\u5730\u5f9e\u52dd\u5229\u7684\u5634\u88cf\u6293\u4f4f\u4e86\u8173\u3002\u4f5c\u70ba\u6536\u8cfc\u6211\u5011\u7684\u516c\u53f8\uff0c\u4ed6\u5011\u7684\u80a1\u7968\u4e0b\u8dcc\u4e86 99.98% QXL Ricardo\u3002\u5373\u4f7f\u5b83\u5df2\u7d93\u5f9e\u96f6\u8b8a\u6210\u4e86\u82f1\u96c4\uff0c\u4f46\u53c8\u56de\u5230\u4e86\u96f6\u3002\u6240\u4ee5\uff0c\u5728 2001 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      \n \u6240\u4ee5\uff0c\u6211\u8aaa\uff0c\u300c\u4f60\u77e5\u9053\u55ce\uff1f\u597d\u3002\u6700\u597d\u7684\u7af6\u722d\u5c0d\u624b\u662f\u90a3\u4e9b\u4e0d\u60f3\u7af6\u722d\u3001\u4e5f\u4e0d\u771f\u6b63\u95dc\u5fc3\u7684\u4eba\u3002\u4ed6\u5011\u8aaa\uff0c\u201c\u770b\uff0c\u5982\u679c\u4f60\u505a\u9ede\u4e86\u4ec0\u9ebc\uff0c\u90a3\u5c31\u592a\u68d2\u4e86\u3002\u6240\u4ee5\u6c7a\u5b9a\u6211\u8981\u8ffd\u6c42 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General Catalyst\u3001Bessemer\u3001Founders Fund \u7684 PowerPoint \u4e0a\u662f\u975e\u540c\u5c0b\u5e38\u7684\u3002\u6211\u7576\u6642\u60f3\uff0c\u201c\u597d\u5427\uff0c\u6211\u5011\u53bb\u69cb\u5efa\u9019\u500b\u5427\u3002       \n \u6240\u4ee5\uff0c\u69cb\u5efaOLX\u3002\u5728 100 \u500b\u570b\u5bb6\/\u5730\u5340\u63a8\u51fa\u3002\u7576\u60a8\u5efa\u7acb\u4e00\u500b\u5e02\u5834\u6642\uff0c\u60a8\u5e0c\u671b\u5f9e\u53bb\u627e\u8ce3\u5bb6\u958b\u59cb\uff0c\u56e0\u70ba\u8ce3\u5bb6\u5728\u90a3\u88e1\u6709\u7d93\u6fdf\u52d5\u6a5f\u3002\u6240\u4ee5\u6211\u544a\u8a34\u6240\u6709\u9019\u4e9b\u4eba\uff0c\u201c\u770b\uff0c\u6211\u5011\u9084\u6c92\u6709\u6d41\u52d5\u6027\uff0c\u4f46\u6211\u5011\u662f\u514d\u8cbb\u7684\u3002\u70ba\u4ec0\u9ebc\u4e0d\u662f\u6211\u5011\uff1f\u770b\u770b\u6703\u767c\u751f\u4ec0\u9ebc\u3002\u56e0\u6b64\uff0c\u6211\u53bb\u627e\u6c7d\u8eca\u7d93\u92b7\u5546\u3001\u623f\u5730\u7522\u7d93\u7d00\u4eba\uff0c\u5c24\u5176\u662f\u5728\u6c92\u6709 MLS \u7684\u570b\u5bb6\/\u5730\u5340\uff0c\u627e\u90a3\u4e9b\u5728\u5176\u4ed6\u5730\u65b9\u5217\u51fa\u5eab\u5b58\u7684\u4eba\u3002\u7136\u5f8c\u6211\u505a SEO \u4e26\u8cfc\u8cb7\u9577\u5c3e SEM\u3002\u56e0\u6b64\uff0c\u6211\u5011\u5728100\u500b\u570b\u5bb6\/\u5730\u5340\u82b1\u8cbb\u4e8650K\uff0c\u5373500\u842c\u7f8e\u5143\u3002\u78b0\u5de7\u5b83\u771f\u7684\u3001\u771f\u7684\u3001\u771f\u7684\u5728\u56db\u500b\u4eba\u4e2d\u594f\u6548\u3002\u6240\u4ee5\uff0c\u5b83\u5728\u5370\u5ea6\u3001\u5df4\u897f\u771f\u7684\u3001\u771f\u7684\u594f\u6548\u4e86\uff0c\u9019\u7576\u7136\u5275\u9020\u4e86\u5de8\u5927\u7684\u7d93\u6fdf\u50f9\u503c\uff0c\u5728\u8461\u8404\u7259\u548c\u5df4\u57fa\u65af\u5766\u4e5f\u771f\u7684\u594f\u6548\u4e86\uff0c\u6211\u5011\u57fa\u672c\u4e0a\u5728\u4e00\u591c\u4e4b\u9593\u5c31\u6210\u70ba\u4e86\u4e3b\u5c0e\u5730\u4f4d\u7684\u9818\u5c0e\u4eba\u3002        \n \u7531\u65bc\u9019\u4e9b\u5e02\u5834\u7684\u52d5\u614b\uff0c\u60a8\u5e0c\u671b\u5be6\u73fe\u8d85\u7576\u5730\u8a9e\u7cfb\u5316\uff0c\u60a8\u5e0c\u671b\u5275\u9020\u6d41\u52d5\u6027\uff0c\u6211\u5011\u6c7a\u5b9a\uff0c\u60a8\u77e5\u9053\u55ce\uff1f\u5b83\u5728\u7f8e\u570b\u4e26\u4e0d\u771f\u6b63\u6709\u6548\uff0c\u56e0\u70ba\u7372\u53d6\u5ba2\u6236\u7684\u6210\u672c\u592a\u9ad8\u4e86\u3002Craigslist \u5df2\u7d93\u6709\u4e86\u6d41\u52d5\u6027\u3002\u5b83\u5728\u5927\u591a\u6578\u897f\u6b50\u5730\u5340\u4e26\u6c92\u6709\u771f\u6b63\u594f\u6548\uff0c\u56e0\u70ba Schibsted \u548c Adevinta 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\u4ea4\u6613\u4e4b\u524d\uff0c\u6211\u5011\u5df2\u7d93\u589e\u9577\u4e86\u8d85\u904e 1 \u5104\u7368\u7acb\u8a2a\u5ba2\uff0c\u5728\u5927\u591a\u6578\u65b0\u8208\u5e02\u5834\u4e2d\u4f54\u64da\u4e3b\u5c0e\u5730\u4f4d\u3002\u5766\u7387\u5730\u8aaa\uff0c\u6211\u975e\u5e38\u9ad8\u8208\uff0c\u4e00\u5207\u90fd\u6e96\u5099\u597d\u4e86\u3002\u6211\u60f3\uff0c\u300c\u597d\u5427\uff0c\u672a\u4f86 10 \u5e74\u6211\u5011\u9032\u884c CDC \u4ea4\u6613\u975e\u5e38\u660e\u78ba\uff0c\u6211\u5011\u4e3b\u5c0e\u6c7d\u8eca\u548c\u623f\u5730\u7522\uff0c\u7136\u5f8c\u53ef\u80fd\u662f\u5c31\u696d\uff0c\u7136\u5f8c\u6211\u5011\u958b\u59cb\u4ea4\u6613\u3002\u90a3\u88e1\u6709\u4e00\u5bb6 1000 \u5104\u5bb6\u516c\u53f8\u8981\u5efa\u3002  \n \u5b89\u5854\u723e\n \u662f\u7684\uff0c\u4f46\u5f88\u5feb\u60c5\u6cc1\u5c31\u4e0d\u540c\u4e86\uff0c\u4f60\u628a\u516c\u53f8\u8ce3\u7d66\u4e86 Naspers\u3002\n \u6cd5\u5e03\u88e1\u65af\n \u6240\u4ee5 OLX \u662f\u6211\u4e00\u751f\u90fd\u60f3\u5efa\u7acb\u548c\u7d93\u71df\u7684\u516c\u53f8\u3002\u6211\u5011\u662f\u6240\u5728\u570b\u5bb6\u793e\u6703\u7d50\u69cb\u7684\u4e00\u90e8\u5206\u3002\u73fe\u5728\uff0c\u6211\u5011\u6bcf\u6708\u6709 3 \u5104\u7368\u7acb\u8a2a\u5ba2\uff0c\u5927\u7d04\u6709 5000 \u842c\u4eba\u9760\u7db2\u7ad9\u8b00\u751f\u3002\u5b83\u5c0d\u4eba\u5011\u7684\u751f\u6d3b\u7522\u751f\u4e86\u6df1\u9060\u7684\u5f71\u97ff\uff0c\u5c24\u5176\u662f\u5728\u652f\u4ed8\u7cfb\u7d71\u3001\u4fe1\u8a17\u548c\u904b\u8f38\u7cfb\u7d71\u904b\u4f5c\u4e0d\u4f73\u7684\u570b\u5bb6\u3002\u4ee4\u6211\u975e\u5e38\u61ca\u60f1\u7684\u662f\uff0c\u6b50\u6d32\u516c\u958b\u4ea4\u6613\u7684\u7af6\u722d\u5c0d\u624b Schibsted \u8207 Telenor \u6210\u7acb\u4e86\u4e00\u5bb6\u5408\u8cc7\u4f01\u696d\uff0c\u4ed6\u5011\u5728\u6211\u7684\u6838\u5fc3\u570b\u5bb6\uff0c\u5c24\u5176\u662f\u5df4\u897f\u548c\u8461\u8404\u7259\uff0c\u7528\u6578\u5104\u7f8e\u5143\u7684\u96fb\u8996\u652f\u51fa\u4f86\u653b\u64ca\u6211\u3002\u7279\u5225\u662f\u5728\u5df4\u897f\uff0c\u4ed6\u5011\u5728\u7b2c\u4e00\u5e74\u82b1\u8cbb\u4e86 6000 \u842c\u6b50\u5143\uff0c\u7b2c\u4e8c\u5e74\u82b1\u8cbb\u4e86 8000 \u842c\u6b50\u5143\uff0c\u4eca\u5e74\u82b1\u8cbb\u4e86 1.6 \u5104\u6b50\u5143\u3002\u6240\u4ee5\u6578\u5104\u7f8e\u5143\u3002      \n \u6b64\u6642\u6211\u5011\u5df2\u7d93\u7c4c\u96c6\u4e86 2850 \u842c\u3002\u96d6\u7136\u6211\u5011\u4f54\u64da\u4e3b\u5c0e\u5730\u4f4d\uff0c\u4f46\u6211\u5011\u6709\u6d41\u52d5\u6027\uff0c\u4ed6\u5011\u6b63\u5728\u4e00\u9ede\u4e00\u9ede\u5730\u8fce\u982d\u8d95\u4e0a\u3002\u5728\u67d0\u4e9b\u6642\u5019\uff0c\u6211\u5011\u4ecd\u7136\u50cf 60-40\uff0c\u5373\u4f7f\u4ed6\u5011\u5df2\u7d93\u82b1\u4e86\u6578\u5104\u30022010 \u5e74\uff0c\u6211\u53bb\u4e86\u7f8e\u570b\u7684\u98a8\u96aa\u6295\u8cc7\u516c\u53f8\uff0c\u6211\u8aaa\uff0c\u201c\u4f60\u770b\uff0c\u6211\u6709\u500b\u58de\u6d88\u606f\u3002\u53bb\u5e74\u6211\u5011\u975e\u5e38\u6709\u5229\u53ef\u5716\uff0c\u8868\u73fe\u4e5f\u975e\u5e38\u51fa\u8272\uff0c\u4f46\u73fe\u5728\u6211\u5011\u9700\u8981\u505c\u6b62\u8b8a\u73fe\uff0c\u5728\u96fb\u8996\u4e0a\u82b1\u8cbb 1 \u5104\uff0c\u4e26\u5728\u591a\u500b\u5e02\u5834\u9032\u884c\u3002\u5982\u679c\u9019\u6b21\u5c0d\u8a71\u767c\u751f\u5728 2015 \u5e74\uff0c\u4e5f\u8a31\u662f\u8207 DSC \u6216 Tiger Global \u6216\u5176\u4ed6\u516c\u53f8\u9032\u884c\uff0c\u6211\u5011\u53ef\u80fd\u80fd\u5920\u505a\u5230\u9019\u4e00\u9ede\u3002    \n \u5b89\u5854\u723e\n \u4f60\u6703\u5f97\u5230\u9019\u7b46\u8cc7\u91d1\u7684\u3002\n \u6cd5\u5e03\u88e1\u65af\n \u662f\u7684\u3002 \u4f46\u5728 2010 \u5e74\uff0c\u6211\u53bb\u627e\u7f8e\u570b\u7684\u98a8\u96aa\u6295\u8cc7\u516c\u53f8\uff0c\u544a\u8a34\u4ed6\u5011\uff0c\u6211\u9700\u8981\u6578\u5104\u7f8e\u5143\u5728\u5df4\u57fa\u65af\u5766\u7684\u96fb\u8996\u4e0a\u82b1\u9322\uff0c\u7d50\u679c\u4e26\u4e0d\u9806\u5229\u3002\u6240\u4ee5\u6211\u8a2d\u6cd5\u8aaa\u670d\u4e86 Naspers \u7684\u4eba\uff0c\u4ed6\u5011\u662f Naspers\u3002Naspers \u5c0d\u9032\u5165\u5206\u985e\u5e02\u5834\u5f88\u611f\u8208\u8da3\u3002\u4e8b\u5be6\u4e0a\uff0c\u4ed6\u5011\u662f\u5b8c\u7f8e\u7684\u5408\u4f5c\u5925\u4f34\uff0c\u56e0\u70ba\u5118\u7ba1\u6211\u5f88\u6fc0\u9032\uff0c\u4f46 Kuss \u5c24\u5176\u66f4\u5177\u4fb5\u7565\u6027\u3002\u6211\u6703\u53bb\u627e\u4ed6\uff0c\u8aaa\uff1a\u201c\u6211\u9700\u8981\u4e00\u5104\u3002\u201c\u4ed6\u6703\u56de\u554f\u6211\uff0c\u4ed6\u8aaa\uff0c\u201d\u4e0d\uff0c\u4e0d\uff0c\u4f60\u7684\u610f\u601d\u662f\u4f60\u9700\u8981 3 \u5104\u3002\u6211\u5011\u66f4\u5927\uff0c\u6211\u5011\u66f4\u5f37\u5927\u3002\u6211\u5011\u66f4\u5feb\u3002\u6211\u5011\u5c07\u8d0f\u5f97\u9019\u5834\u6230\u722d\u3002\u56e0\u6b64\uff0c\u4ed6\u5011\u7d66\u4e86\u6211\u8fd1 10 \u5104\u7f8e\u5143\uff0c\u8b93\u6211\u53bb\u8207 Schibsted \u6253\u4e00\u5834\u4ed7\u3002\u6b64\u5916\uff0c\u9019\u751a\u81f3\u4e0d\u5305\u62ec\u5c0d Dubizzle \u7684 Avito \u7b49\u7684\u6536\u8cfc\u3002\u6211\u5011\u6700\u7d42\u8d0f\u5f97\u4e86\u9019\u5834\u6230\u722d\u3002\u6211\u5011\u4ee5 51 \u6bd4 49 \u5408\u4f75\u3002\u662f\u7684\uff0c\u4e8b\u60c5\u5df2\u7d93\u5875\u57c3\u843d\u5b9a\u4e86\u3002          \n \u9019\u4e9b\u696d\u52d9\uff0c\u4e00\u65e6\u4f60\u6210\u70ba\u4e3b\u5c0e\u8005\uff0c\u5c31\u6703\u7372\u5f97\u975e\u5e38\u9ad8\u7684\u5229\u6f64\uff0c\u6211\u7684\u610f\u601d\u662f\uff0c\u6211\u5011\u8ac7\u8ad6\u7684\u662f 75% \u7684 EBITDA \u7372\u5229\u7387\uff0c\u9019\u751a\u81f3\u5728\u9032\u884c\u4ea4\u6613\u4e4b\u524d\uff0c\u7b49\u7b49\u3002\u6240\u4ee5 2010 \u5e74\u8207 Naspers \u7684\u4ea4\u6613\uff0c\u4ed6\u5011\u7d66\u4e86\u6211\u6240\u6709\u7684\u9322\u3002\u4ea4\u6613\u540e\u6211\u7d93\u71df\u4e86\u4e09\u5e74\u3002\u4ed6\u5011\u6c92\u6709\u8cb7\u4e0b\u6211\u3002\u9019\u96bb\u662f\u70ba\u4e86\u8d0f\u5f97\u6230\u722d\u800c\u7c4c\u96c6\u8cc7\u91d1\u3002\u7136\u5f8c 2013 \u5e74\uff0c\u6211\u60f3\uff0c\u201c\u597d\u5427\uff0c\u6211\u5011\u8d0f\u4e86\u3002\u4e8b\u60c5\u9084\u4e0d\u932f\uff0c\u4f46\u6210\u70ba\u4e00\u5bb6\u5927\u578b\u4e0a\u5e02\u516c\u53f8\u7684\u4e00\u54e1\u5f88\u7121\u804a\u3002\u6211\u4e0d\u518d\u73a9 product\u3002\u6211\u7684\u751f\u6d3b\u662f\u5275\u5efa\u5e74\u5ea6\u5831\u544a\uff0c\u7136\u5f8c\u662f\u5b63\u5ea6\u5831\u544a\uff0c\u7136\u5f8c\u66f4\u65b0\u5b63\u5ea6\u9810\u7b97\u4e4b\u985e\u7684\u6771\u897f\u3002\u8b93\u6211\u5011\u56de\u5230\u57fa\u790e\u3002\u8b93\u6211\u5011\u56de\u5230\u96f6\u3002\u56e0\u6b64\uff0c\u6211\u5728 2013 \u5e74\u96e2\u958b\u4e86\u516c\u53f8\uff0c\u5728\u67d0\u7a2e\u7a0b\u5ea6\u4e0a\uff0c\u7576\u6642\u6b63\u503c\u516c\u53f8\u696d\u7e3e\u7684\u5dd4\u5cf0\u6642\u671f\uff0c\u6b64\u5f8c\u5b83\u4e00\u76f4\u8868\u73fe\u5f97\u975e\u5e38\u51fa\u8272\u3002      \n \u5b89\u5854\u723e\n \u4e86\u4e0d\u8d77\u3002 \u9019\u4e9b\u4f01\u696d\u4ecd\u7136\u5728\u4ed6\u5011\u7684\u8a31\u591a\u5e02\u5834\u4e2d\u4f54\u64da\u4e3b\u5c0e\u5730\u4f4d\u3002\u5728\u6771\u6b50\u975e\u5e38\u5f37\u52c1\uff0c\u5728\u5df4\u897f\u975e\u5e38\u5f37\u52c1\uff0c\u5728\u5176\u4ed6\u7d93\u6fdf\u9ad4\u4e5f\u975e\u5e38\u5f37\u52c1\u3002 \n \u6cd5\u5e03\u88e1\u65af\n \u662f\u7684\u3002 \u5728\u6771\u5357\u4e9e\uff0c\u662f\u7684\u3002\u963f\u806f\u914b\u7684\u9818\u5c0e\u8005\uff0c\u7121\u8655\u4e0d\u5728\u7684\u9818\u5c0e\u8005\u3002\u552f\u4e00\u7684\u7f3a\u9ede\u662f\u516c\u53f8\u6700\u8cfa\u9322\u7684\u7687\u51a0\u4e0a\u7684\u660e\u73e0 Avito\uff0c\u5b83\u7684\u6536\u5165\u70ba 10 \u5104\uff0cEBITDA \u70ba 750\uff0c\u57fa\u672c\u4e0a\u88ab\u666e\u4eac\u548c\u4ed6\u7684\u89aa\u4fe1\u7aca\u53d6\u4e86\u3002\u800c\u9019\u70ba\u5370\u5ea6\u548c\u5df4\u57fa\u65af\u5766\u7b49\u5730\u7684\u5feb\u901f\u589e\u9577\u4ed8\u51fa\u4e86\u4ee3\u50f9\u3002\u56e0\u6b64\uff0c\u9019\u4e9b\u516c\u53f8\u96a8\u5f8c\u88ab\u51fa\u552e\u7d66\u5176\u4ed6\u53ef\u4ee5\u70ba\u6301\u7e8c\u589e\u9577\u63d0\u4f9b\u8cc7\u91d1\u7684\u53c3\u8207\u8005\u3002\u4ed6\u5011\u4ecd\u7136\u4f54\u64da\u4e3b\u5c0e\u5730\u4f4d\uff0c\u800c\u4e14\u4ecd\u7136\u8868\u73fe\u5f97\u975e\u5e38\u597d\uff0c\u4f46\u4ed6\u5011\u4e0d\u518d\u5168\u90fd\u5728 OLX \u7684\u4fdd\u8b77\u5098\u4e0b\uff0c\u56e0\u70ba\u907a\u61be\u7684\u662f\uff0c\u6416\u9322\u6a39\u88ab\u596a\u8d70\u4e86\u3002     \n \u5b89\u5854\u723e\n \u5728\u6211\u5011\u6df1\u5165\u63a2\u8a0e\u5176\u4e2d\u7684\u4e00\u4e9b\u4e3b\u984c\u4e4b\u524d\uff0c\u8b93\u6211\u7c21\u8981\u5730\u4ecb\u7d39\u4e00\u4e0b\u60a8\u65c5\u7a0b\u7684\u4e0b\u4e00\u6b65\u3002\u56e0\u6b64\uff0c\u5728 Naspers \u548c OLX \u4e4b\u5f8c\uff0c\u60a8\u5f9e\u90a3\u88e1\u6539\u8b8a\u4e86\u81ea\u5df1\u7684\u5de5\u4f5c\u65b9\u5f0f\uff0c\u6210\u70ba\u4e86\u8a31\u591a\u6210\u529f\u4f01\u696d\u5bb6\u80cc\u5f8c\u7684\u771f\u6b63\u9867\u554f\u548c\u6295\u8cc7\u8005\u3002\u662f\u4ec0\u9ebc\u4fc3\u4f7f\u60a8\u5f9e\u5efa\u7bc9\u5546\u8f49\u8b8a\u70ba\u5e6b\u52a9\u5efa\u7bc9\u5546\u4e26\u652f\u6301\u4ed6\u5011\u7684\u4eba\uff1f  \n \u6cd5\u5e03\u88e1\u65af\n \u6240\u4ee5\uff0c\u6211\u8a8d\u70ba\u6c92\u6709\u4ec0\u9ebc\u8b8a\u5316\u592a\u5927\u3002\u6240\u4ee5\u65e9\u5728 98 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Fresha\u3001\u4e7e\u6d17\u5e97\u7684 Cents\u3001\u745c\u4f3d\u9928\u7684 Momence\u3002\u540c\u6a23\uff0c\u5b83\u6b63\u5728\u9010\u500b\u5782\u76f4\u5730\u767c\u751f\u3002Chowbus \u7528\u65bc\u4e2d\u9910\u9928\u3002        \n \u7b2c\u4e09\uff0c\u9452\u65bc\u7b2c\u4e8c\u6b21\u51b7\u6230\uff0c\u5c07\u4f9b\u61c9\u93c8\u79fb\u51fa\u4e2d\u570b\u3002\u6240\u4ee5\u4e3b\u8981\u662f\u5370\u5ea6\uff0c\u4f46\u4e5f\u5305\u62ec\u58a8\u897f\u54e5\uff0c\u751a\u81f3\u5728\u5cb8\u5916\u5305\u3002\u56e0\u6b64\uff0c\u6211\u5011\u662f Zeot \u7b49\u516c\u53f8\u7684\u6295\u8cc7\u8005\uff0cZeot \u662f\u4e00\u500b\u670d\u88dd\u5e02\u5834\uff0c\u8aac\u660e\u5370\u5ea6\u7684\u5c0f\u578b\u592b\u59bb\u670d\u88dd\u88fd\u9020\u5546\u5411\u4e16\u754c\u5404\u5730\u7684 ZARA \u92b7\u552e\u7522\u54c1\u3002\u56e0\u70ba\u4ed6\u5011\u7576\u7136\u4e0d\u77e5\u9053\u5982\u4f55\u9032\u884c\u539f\u578b\u8a2d\u8a08\uff0c\u4ed6\u5011\u4e0d\u77e5\u9053\u5982\u4f55\u771f\u6b63\u8d0f\u5f97 RFQ\uff0c\u4ed6\u5011\u4e0d\u77e5\u9053\u5982\u4f55\u8655\u7406\u6d77\u95dc\u548c\u767c\u7968\uff0c\u6240\u4ee5\u5e02\u5834\u6703\u70ba\u4ed6\u5011\u505a\u6240\u6709\u9019\u4e9b\u4e8b\u60c5\u3002   \n \u7b2c\u56db\uff0cLibre \u5e02\u5834\u652f\u63f4\u6240\u6709\u9019\u4e9b\uff0c\u56e0\u6b64\u50cf\u6b50\u6d32\u7684 Java Talent \u9019\u6a23\u7684\u85cd\u9818\u5e02\u5834\uff0c\u6216\u8005\u4e00\u5bb6\u540d\u70ba War Cry \u7684\u516c\u53f8\uff0c\u8a72\u516c\u53f8\u70ba\u77f3\u6cb9\u5e73\u81fa\u4e0a\u7684\u5de5\u4eba\u63d0\u4f9b\u77f3\u6cb9\u670d\u52d9\u3002\u5b83\u4ee5\u524d\u53eb RigUp\uff0c\u6211\u8a8d\u70ba\u4ed6\u5011\u4e5f\u5728\u505a 10 \u5104\u7684 GSV\u3002\u7b2c\u4e94\uff0c\u57fa\u790e\u8a2d\u65bd\u3002\u56e0\u6b64\uff0c\u81ea\u52d5\u5316\u516c\u53f8\u3001\u6700\u5f8c\u4e00\u82f1\u91cc\u904b\u8f38\u548c\u5305\u88dd\u516c\u53f8\uff08\u5982 ShipBob\uff09\u3001\u6578\u4f4d\u8ca8\u904b\u4ee3\u7406\uff08\u5982 Flexport\uff09\u3001\u652f\u4ed8\u516c\u53f8\uff08\u5982 Stripe \u6216 rapid\uff01\uff09\u3001\u6a5f\u5668\u4eba\u516c\u53f8\uff08\u5be6\u969b\u4e0a\u53ef\u4ee5\u81ea\u52d5\u5316\u6240\u6709\u6700\u5f8c\u4e00\u82f1\u91cc\u63c0\u9078\u548c\u5305\u88dd\uff0c\u5982 Figer\uff09\u3002   \n \u6240\u4ee5\uff0c\u6240\u6709\u9019\u4e9b\u90fd\u662f\u53e6\u4e00\u500b\u5927\u7684\u6295\u8cc7\u9818\u57df\uff0c\u7136\u5f8c\u662f\u7b2c\u516d\u500b\uff0c\u518d\u5546\u52d9\u3002\u56e0\u6b64\uff0c\u50cf Ghost \u9019\u6a23\u7684\u516c\u53f8\u6b63\u5728\u8aac\u660e\u6e05\u7b97\u904e\u5269\u7684\u5eab\u5b58\uff0c\u800c\u4e0d\u5fc5\u53bb 21 \u4e16\u7d00\u3002\u73fe\u5728\uff0c\u96f6\u552e\u5e97\u4e2d\u7684\u5c0f\u5546\u5e97\u53ef\u4ee5\u8cfc\u8cb7 10K \u624b\uff0c\u800c\u7121\u9700\u82b1\u8cbb 200 \u842c\u7f8e\u5143\u3002\u56e0\u6b64\uff0c\u9019\u516d\u7bc7\u6db5\u84cb\u6578\u5341\u842c\u5104\u500b\u985e\u5225\u7684\u8ad6\u9ede\uff0c\u57fa\u672c\u4e0a\u662f1%\u7684\u6ef2\u900f\u7387\u3002\u4e00\u5207\u90fd\u9700\u8981\u6578\u4f4d\u5316;\u9019\u5c07&#8230;&#8230;\u9019\u80a1\u6d6a\u6f6e\u5c07\u6301\u7e8c 10 \u5e74\u300120 \u5e74\uff0c\u6211\u5011\u8a66\u5716\u9006\u52e2\u800c\u70ba\u3002\u6211\u5011\u9019\u6a23\u505a\u7684\u539f\u56e0\uff0c\u986f\u7136\u662f\u53d7\u5230\u4eba\u5de5\u667a\u6167\u7684\u5f71\u97ff\uff0c\u4f7f\u7528\u4eba\u5de5\u667a\u6167\uff0c\u800c\u4e0d\u662f\u53ea\u6295\u8cc7\u4eba\u5de5\u667a\u6167\u516c\u53f8\uff0c\u56e0\u70ba\u6211\u89ba\u5f97\u9019\u4e9b\u516c\u53f8\u88ab\u9ad8\u4f30\u4e86\uff0c\u6709\u5f88\u6df1\u7684\u7a2e\u5b50\uff0c\u7b49\u7b49\uff0c\u9019\u4e0d\u592a\u6709\u610f\u7fa9\u3002      \n \u5b89\u5854\u723e\n \u800c\u4e14\u6211\u60f3 B2B \u670d\u52d9\u5e02\u5834\u4e5f\u6709\u5f88\u591a\u6a5f\u6703\u3002\n \u6cd5\u5e03\u88e1\u65af\n \u7d55\u5c0d\u3002\n \u5b89\u5854\u723e\n \u662f\u7684\uff0c\u7d55\u5c0d\u5730\u3002 \u60a8\u4e4b\u524d\u63d0\u5230\u4e86 Vinted\uff0c\u4f46\u5c0d\u65bc\u89c0\u773e\u4f86\u8aaa\uff0c\u4e5f\u8a31\u53ef\u4ee5\u544a\u8a34\u6211\u5011\u4e00\u4e9b\u95dc\u65bc Vinted \u662f\u4ec0\u9ebc\u7684\u8cc7\u8a0a\uff0c\u4ee5\u53ca\u4ed6\u5011\u5982\u4f55\u985b\u8986\u6b50\u6d32\u5206\u985e\u5ee3\u544a\u5e02\u5834\u985e\u5225\uff0c\u5c24\u5176\u662f\u5728\u6642\u5c1a\u9818\u57df\u3002\u6211\u5011\u5f9e\u5916\u90e8\u89c0\u5bdf\u5230\u7684\u662f\uff0c\u4ed6\u5011\u901a\u904e\u6e1b\u5c11\u8de8\u5883\u4ea4\u6613\u5728\u822a\u904b\u65b9\u9762\u7372\u5f97\u4e86\u5275\u65b0\u548c\u7d93\u6fdf\u6548\u76ca\uff0c\u800c\u4e14\u4ed6\u5011\u4e5f\u901a\u904e\u5f9e\u8ce3\u65b9\u8cbb\u7528\u8f49\u5411\u9019\u7a2e\u6709\u8da3\u7684\u8cb7\u5bb6\u4fdd\u8b77\u6a21\u5f0f\uff0c\u5728\u5546\u696d\u6a21\u5f0f\u4e0a\u9032\u884c\u4e86\u5275\u65b0\u3002\u5982\u679c\u80fd\u807d\u5230\u4e00\u4e9b\u95dc\u65bc\u9019\u4e9b\u4e8b\u60c5\u70ba\u4ec0\u9ebc\u6703\u6539\u8b8a\u904a\u6232\u898f\u5247\uff0c\u4ee5\u53ca\u5b83\u6700\u7d42\u5c0e\u81f4\u4ec0\u9ebc\uff0c\u90a3\u5c07\u662f\u4e00\u4ef6\u6709\u8da3\u7684\u4e8b\u60c5\uff0c\u56e0\u70ba\u9019\u662f\u76ee\u524d\u6b50\u6d32\u6700\u6709\u50f9\u503c\u7684\u898f\u6a21\u5316\u4f01\u696d\u4e4b\u4e00\uff0c\u4f30\u503c\u70ba50\u5104\u7f8e\u5143\u3002  \n \u6cd5\u5e03\u88e1\u65af\n \u6240\u4ee5 Vinted \u6700\u521d\u662f\u6b50\u6d32\u7684 Poshmark\uff0c\u800c\u4e14\u6548\u679c\u9084\u4e0d\u932f\u3002\u5b83\u7531 Berta \u548c Inside \u7b49\u516c\u53f8\u8cc7\u52a9\uff0c\u5b83\u589e\u9577\u5230 1 \u5104 GMV\uff0c\u5b83\u5f9e\u8ce3\u5bb6\u90a3\u88e1\u62ff\u8d70\u4e86 15% \u5230 20%\u3002\u554f\u984c\u662f\u5b83\u5e73\u6574\u4e86\uff0c\u60c5\u6cc1\u4e0d\u662f\u5f88\u597d\uff0c\u800c\u4e14\u4ed6\u5011\u6b63\u5728\u8e29\u6c34\u3002\u4ed6\u5011\u627e\u5230\u4e86\u4e00\u500b\u8207\u6211\u4e00\u8d77\u5de5\u4f5c\u7684\u4eba\uff0c\u73fe\u5728\u662fVinted\u7684\u9996\u5e2d\u57f7\u884c\u5b98Thomas\uff0c\u53bb\u5e6b\u52a9\u4ed6\u5011\u3002\u6211\u5011\u5728 Thomas \u4e0a\u4efb\u6642\u9032\u884c\u4e86\u6295\u8cc7\uff0c\u8a08\u5283\u5be6\u969b\u4e0a\u975e\u5e38\u7c21\u55ae\uff0c\u5c31\u662f\u5be6\u65bd\u6211\u5b9a\u7fa9\u7684\u5206\u985e\u5ee3\u544a 3.0 \u5287\u672c\u3002    \n \u6211\u5beb\u4e86\u90a3\u500b\u5287\u672c\u61c9\u8a72\u5728\u7684\u5730\u65b9\uff0c\u4e8b\u5be6\u4e0a\uff0c\u5b83\u5728 2012 \u5e74\u590f\u5929\u5c31\u5728\u6211\u7684\u535a\u5ba2\u4e0a\uff0c\u6240\u4ee5\u5f88\u65e9\u5c31\u5beb\u4e86\u3002\u6211\u7576\u6642\u60f3\uff0c\u201c\u5206\u985e\u5ee3\u544a\u7684\u672a\u4f86\u662f\u4ea4\u6613\u6027\u7684\uff0c\u4f60\u5c07\u5728\u8a17\u7ba1\u4e2d\u5167\u7f6e\u904b\u8f38\uff0c\u5b83\u5c07\u7531\u8cb7\u5bb6\u4ed8\u6b3e\u3002\u5176\u80cc\u5f8c\u7684\u60f3\u6cd5\u662f\uff0c\u901a\u904e\u8cb7\u65b9\u4ed8\u6b3e\uff0c\u70ba\u670d\u52d9\u4ed8\u8cbb\u7684\u4eba\u5c31\u662f\u7372\u5f97\u50f9\u503c\u7684\u4eba\u3002\u56e0\u6b64\uff0c\u5982\u679c\u60a8\u5728\u8ce3\u5bb6\u90a3\u88e1\u4e0a\u9580\u53d6\u8ca8\uff0c\u8ce3\u5bb6\u6703\u652f\u4ed8\u8cbb\u7528\uff0c\u56e0\u70ba\u4ed6\u5011\u662f\u7372\u5f97\u50f9\u503c\u7684\u4eba\u3002\u5982\u679c\u60a8\u6709\u8a17\u7ba1\u670d\u52d9\uff0c\u8cb7\u5bb6\u53ef\u4ee5\u8aaa\uff0c\u201c\u597d\u5427\uff0c\u9019\u4e0d\u662f\u6b63\u78ba\u7684\u7269\u54c1\u3002\u6211\u4e0d\u60f3\u70ba\u6b64\u4ed8\u8cbb\u3002\u9019\u662f\u8cb7\u65b9\u5f9e\u4e2d\u53d7\u76ca\uff0c\u800c\u5b83\u88ab\u904b\u9001\u5230\u4ed6\u5011\u624b\u4e2d\u662f\u4ed6\u5011\u70ba\u6b64\u4ed8\u8cbb\u3002     \n \u6240\u4ee5\u4f60\u57fa\u672c\u4e0a\u61c9\u8a72\u5411\u6709\u50f9\u503c\u7684\u4eba\u6536\u8cbb\u3002\u6211\u5011\u610f\u8b58\u5230\uff0c\u5c24\u5176\u662f\u5728\u65b0\u8208\u5e02\u5834\uff0c\u4e8b\u5be6\u8b49\u660e\u5b83\u4e5f\u9069\u7528\u65bc\u897f\u6b50\uff0c\u8ce3\u5bb6\u5c0d\u50f9\u683c\u975e\u5e38\u654f\u611f\u3002\u800c\u7576\u4f60\u53d6\u6d88\u8ce3\u5bb6\u8cbb\u7528\u7684\u90a3\u4e00\u523b\uff0c\u6d41\u52d5\u6027\u548c\u5eab\u5b58\u6025\u5287\u589e\u52a0\uff0c\u7834\u58de\u5e73\u81fa\u7684\u610f\u9858\u6025\u5287\u4e0b\u964d\u3002\u56e0\u6b64\uff0cVinted \u7684\u7b2c\u4e00\u6b65\u662f\u61c9\u7528 OLX \u5287\u672c\u3002\u81ea\u7531\u6d3b\u52d5\uff0c\u9032\u884c\u5927\u898f\u6a21\u7684\u96fb\u8996\u5ba3\u50b3\uff0c\u92b7\u91cf\u5448\u7206\u70b8\u5f0f\u589e\u9577\u3002\u56e0\u6b64\uff0c\u9996\u5148\u8981\u9032\u884c\u5206\u985e\u5ee3\u544a\u7684\u8ad6\u9ede\uff0c\u975e\u4ea4\u6613\u6027\u7684\uff0c\u800c\u4e0d\u662f\u6536\u53d6\u50ad\u91d1\uff0c\u7d55\u5c0d\u9069\u7528\u65bc\u6642\u5c1a\u754c\uff0c\u5b83\u8207 30\u300140 \u6b50\u5143\u985e\u578b\u7684\u6642\u5c1a\u5546\u54c1\u985e\u5225\u7684\u7522\u54c1\u7279\u5225\u6709\u6548\u3002     \n \u7b2c\u4e8c\u968e\u6bb5\u662f\u5be6\u65bd\u4ea4\u6613\u985e\u5225\uff0c\u6211\u5011\u7684\u696d\u52d9\u5411\u8cb7\u65b9\u6536\u8cbb\uff0c\u9019\u662f\u4e00\u7a2e\u5275\u65b0\u7684\u5546\u696d\u6a21\u5f0f\uff0c\u5728\u90a3\u4e4b\u524d\u6c92\u6709\u4eba\u9019\u6a23\u505a\u3002\u6211\u60f3\u6211\u5011\u662f\u5728\u540c\u4e00\u6642\u9593\u6216\u591a\u6216\u5c11\u5728\u540c\u4e00\u6642\u9593\u5b8c\u6210\u7684 [inaudible 00:41:09] 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\u5e74\u6703\u767c\u751f\u4ec0\u9ebc\u5462\uff1f\u9019\u4e26\u4e0d\u662f\u8aaa\u4e00\u5207\u90fd\u662f\u70ba\u4e86\u6700\u597d\u548c\u6700\u597d\u7684\u4e16\u754c\u3002\u9019\u4e0d\u662f\u7c89\u7d05\u8272\u7684\u5dde\u3002\u6070\u6070\u76f8\u53cd\u3002\u6211\u5011\u6709\u5f88\u591a\u554f\u984c\u3002\u6211\u5011\u9762\u81e8\u8457\u6c23\u5019\u8b8a\u5316\uff0c\u6211\u5011\u9762\u81e8\u8457\u6a5f\u6703\u4e0d\u5e73\u7b49\uff0c\u6211\u5011\u9762\u81e8\u8457\u8eab\u5fc3\u5065\u5eb7\u5371\u6a5f\u3002\u800c\u6240\u6709\u9019\u4e9b\u90fd\u5728\u67d0\u7a2e\u7a0b\u5ea6 [inaudible 01:03:13] \u4e0a\u7121\u6cd5\u5728\u7d50\u69cb\u4e0a\u89e3\u6c7a\u5b83\u3002\u5be6\u969b\u4e0a\uff0c\u597d\u6d88\u606f\u662f\u5275\u59cb\u4eba\u770b\u5230\u4e86\u9019\u4e9b\u554f\u984c\uff0c\u4e26\u8457\u624b\u89e3\u6c7a\u9019\u4e9b\u554f\u984c\u3002\u56e0\u6b64\uff0c\u6211\u975e\u5e38\u6a02\u89c0\uff0c\u56e0\u70ba\u6211\u5011\u5728\u591a\u500b\u6876\u4e2d\u767c\u73fe\u4e86\u8c50\u5bcc\u7684\u8cc7\u6e90\u3002\u6240\u4ee5\u9996\u5148\uff0c\u80fd\u91cf\u8c50\u5bcc\u3002\u73fe\u5728\uff0c\u60a8\u64c1\u6709\u8c50\u5bcc\u7684\u8a08\u7b97\u80fd\u529b\u3002\u5c31\u50cf 1970 \u5e74\u4ee3\u4e00\u6a23\uff0c\u8a08\u7b97\u80fd\u529b\u6975\u5176\u6709\u9650\u3002\u60a8\u53ea\u6703\u5c07\u5176\u7528\u65bc\u975e\u5e38\u9ad8\u50f9\u503c\u7684\u4ea4\u6613\u3002\u4eca\u5929\uff0c\u5b83\u662f\u5982\u6b64\u7121\u9650\uff0c\u4f60\u7684\u53e3\u888b\u88e1\u6709\u8d85\u7d1a\u8a08\u7b97\u6a5f\uff0c\u4f60\u53ef\u4ee5\u505a\u4efb\u4f55\u4e8b\u60c5\u3002             \n 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10\u3002\u6240\u4ee5 20 \u5e74\u9664\u4ee5 100,30 \u5e74\u9664\u4ee5 1,000,40 \u5e74\u9664\u4ee5 10,000\u3002\u800c\u4e14\u5b83\u9084\u5728\u7e7c\u7e8c\u4e0b\u964d\u3002\u6211\u53ef\u4ee5\u9810\u898b\uff0c\u5f9e\u73fe\u5728\u8d77 10 \u5e74\u6216 20 \u5e74\u5f8c\uff0c\u80fd\u6e90\u751f\u7522\u7684\u908a\u969b\u6210\u672c\u57fa\u672c\u4e0a\u70ba\u96f6\u3002\u7576\u7136\uff0c\u592a\u967d\u80fd\u4e0d\u6703\u5728\u591c\u9593\u6216\u9670\u5929\u904b\u884c\uff0c\u4f46\u96fb\u6c60\u6210\u672c\u4e5f\u6709\u6240\u4e0b\u964d\u3002\u4ed6\u5011\u5728\u904e\u53bb 27 \u5e74\u4e2d\u9664\u4ee5 42\uff0c\u5728\u904e\u53bb\u5341\u5e74\u4e2d\u9664\u4ee5 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     \n \u4e00\u65e6\u4f60\u80fd\u6d6a\u8cbb\u80fd\u6e90\uff0c\u4f60\u5c31\u53ef\u4ee5\u505a\u4e0d\u5e73\u51e1\u7684\u4e8b\u60c5\u3002\u4eba\u5011\u8aaa\uff0c\u201c\u54e6\uff0c\u6211\u5011\u7684\u6de1\u6c34\u5feb\u7528\u5b8c\u4e86\u3002\u9019\u5be6\u969b\u4e0a\u4e0d\u662f\u771f\u7684\u3002\u4e16\u754c\u4e0a 70% \u7684\u9762\u7a4d\u662f\u6c34\u3002\u4f60\u53ef\u4ee5\u6de1\u5316\u6de1\u6c34\uff0c\u6216\u8005\u4f60\u53ef\u4ee5\u7528\u7121\u9650\u7684\u96fb\u4f86\u6de1\u5316\u9e7d\u6c34\u3002\u6211\u5728\u7279\u514b\u65af\u548c\u51f1\u79d1\u65af\u7fa4\u5cf6\u7684\u623f\u5b50\u91cc\u6709\u4e00\u500b\u6d77\u6c34\u6de1\u5316\u7cfb\u7d71\u3002\u6211\u5011\u6bcf\u5929\u751f\u7522 5,000 \u52a0\u4f96\u3002\u6211\u7684\u6c34\u8cbb\u662f\u6bcf\u6708 10K\u3002\u6a5f\u5668\u662f 72K\u3002        \n \u5b89\u5854\u723e\n \u54c7\u3002\n \u6cd5\u5e03\u88e1\u65af\n \u6211\u7684\u610f\u601d\u662f\uff0c\u5b83\u5728 7 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\u6211\u4e5f\u7d93\u5e38\u807d\u8aaa\u4f60\u662f\u4e00\u500b\u72c2\u71b1\u7684\u8b80\u8005\u3002\u54ea\u672c\u66f8\u771f\u6b63\u8b93\u4f60\u5370\u8c61\u6df1\u523b\uff0c\u6539\u8b8a\u4e86\u4f60\u7684\u4e16\u754c\u89c0\uff1f \n \u6cd5\u5e03\u88e1\u65af\n \u53ef\u80fd\u6539\u8b8a\u6211\u5c0d\u4e16\u754c\u7684\u770b\u6cd5\u7684\u66f8\u662f\u300a\u667a\u4eba\u300b\uff0c\u5b83\u8b93\u6211\u7406\u89e3\u4e86\u6211\u5011\u8a8d\u70ba\u7406\u6240\u7576\u7136\u7684\u9019\u4e9b\u6771\u897f\u4e2d\u6709\u591a\u5c11\u5be6\u969b\u4e0a\u662f\u4eba\u985e\u69cb\u5efa\u7684\u3002\u5c31\u50cf\u8ca8\u5e63\u4e00\u6a23\uff0c\u5c31\u50cf\u908a\u754c\u4e00\u6a23\u3002\u4f46\u8001\u5be6\u8aaa\uff0c\u6211\u8b80\u4e86\u5f88\u591a\u66f8\u3002\u6211\u6bcf\u5e74\u8b80\u5927\u7d04 100 \u672c\u66f8\uff0c\u4f46\u6211\u4e3b\u8981\u662f\u70ba\u4e86\u597d\u73a9\u800c\u95b1\u8b80\u3002\u6211\u767c\u73fe\u523a\u6fc0\u6211\u7684\u601d\u7dad\u548c\u601d\u8003\u672a\u4f86\u7684\u65b9\u6cd5\u5be6\u969b\u4e0a\u662f\u95b1\u8b80\u79d1\u5e7b\u5c0f\u8aaa\uff0c\u5728\u8f03\u5c0f\u7a0b\u5ea6\u4e0a\u662f\u5947\u5e7b\u5c0f\u8aaa\u3002\u6240\u4ee5\u904e\u53bb\u5e7e\u5e74\u6211\u6700\u559c\u6b61\u7684\u79d1\u5e7b\u66f8\u662f Project Hail Mary\u3002\u5b83\u662f\u7531\u300a\u706b\u661f\u6551\u63f4\u300b\u7684\u4f5c\u8005\u5beb\u7684\uff0c\u4f46\u5b83\u66f4\u6709\u8da3\uff0c\u4e5f\u66f4\u5f15\u4eba\u6ce8\u76ee\u3002\u706b\u661f\u6551\u63f4\u5c31\u50cf\u706b\u661f\u4e0a\u7684\u9b6f\u6ff1\u905c\u6f02\u6d41\u8a18\u4e00\u6a23\uff0c\u8a66\u5716\u62ef\u6551\u81ea\u5df1\u3002\u6240\u4ee5\u4ed6\u7368\u81ea\u4e00\u4eba\uff0c\u4ed6\u5728\u81ea\u8a00\u81ea\u8a9e\uff0c\u8ced\u6ce8\u5c31\u5728\u65bc\u4ed6\u3002\u9019\u5c31\u50cf\u9b6f\u6ff1\u905c\u6f02\u6d41\u8a18\u548c\u661f\u671f\u4e94\u5728\u592a\u7a7a\u4e2d\u4e00\u6a23\uff0c\u6240\u4ee5\u670b\u53cb\u5011\uff0c\u8a66\u5716\u62ef\u6551\u4eba\u985e\uff0c\u98a8\u96aa\u66f4\u9ad8\u3002         \n \u5b89\u5854\u723e\n \u68d2\u3002\u60a8\u4eca\u5929\u6700\u559c\u6b61\u7684 AI \u61c9\u7528\u7a0b\u5f0f\u662f\u4ec0\u9ebc\uff1f\u6211\u5c07\u70ba\u60a8\u63d0\u4f9b\u5e7e\u500b\u9078\u64c7\u3002ChatGPT\u3001Claude\u3001Perplexity \u6216 Gemini\uff0c\u6216\u8005\u6211\u5011\u6c92\u6709\u7684\u5176\u4ed6\u6771\u897f\u2014\u2014   \n \u6cd5\u5e03\u88e1\u65af\n \u6211\u662f GPT \u9ad8\u7d1a\u4f7f\u7528\u8005\u3002\u6240\u4ee5\u9996\u5148\uff0c\u6211\u69cb\u5efa\u4e86\u81ea\u5df1\u7684 AI\uff0c\u5b83\u662f\u6211\u6240\u8aaa\u3001\u6240\u5beb\u3001\u6240\u60f3\u7b49\u4e00\u5207\u7684\u6578\u4f4d\u8868\u793a\u3002\u6211\u82b1\u4e86\u4e00\u5e74\u591a\u7684\u6642\u9593\uff0c\u4e00\u958b\u59cb\u771f\u7684\u5f88\u7cdf\u7cd5\u3002\u5728\u505a\u90a3\u500b\u3001\u69cb\u5efa\u5b83\u7684\u904e\u7a0b\u4e2d\uff0c\u6211\u73a9\u5f04\u4e86\u6240\u6709\u7684\u6771\u897f\u3002Anthropic\uff0c \u677e\u679c\u3002\u6211\u7684\u610f\u601d\u662f\uff0c\u6211\u7de8\u5beb\u4e86\u5b83\uff0c\u6240\u4ee5\u5b83\u9700\u8981\u7121\u9650\u53cd\u8986\u904b\u7b97\uff0c\u76f4\u5230 4.0 \u51fa\u4f86\u624d\u771f\u6b63\u8d77\u4f5c\u7528\u3002\u7576\u7136\uff0c\u90a3\u6642\u6211\u6b63\u78ba\u5730\u69cb\u5efa\u4e86\u6578\u64da\uff0c\u4e26\u5b8c\u5168\u8f49\u63db\u4e86\u6240\u6709\u7684\u64ad\u5ba2\u548c\u6587\u5b57\u8a18\u9304\uff0c\u7de8\u78bc\u4e86\u8ab0\u5728\u767c\u8a00\u3002\u6211\u4f7f\u7528 Azure \u6216 CR \u5c07\u6211\u7684 PDF \u8f49\u63db\u70ba\u53ef\u7406\u89e3\u7684\u5167\u5bb9\u3002\u6240\u4ee5\u6578\u767e\u5c0f\u6642\u7684\u5de5\u4f5c\u3002\u4f46\u662f GPT4.0 \u5f88\u68d2\uff0c\u65b0\u6a21\u578b\u751a\u81f3\u66f4\u597d\u3002\u6211\u4ec0\u9ebc\u90fd\u7528\u5b83\u3002\u4f86\u81ea\u7814\u7a76\uff0c\u554f\u984c\u3002\u662f\u7684\uff0c\u5b83\u5df2\u7d93\u53d6\u4ee3\u4e86\u8c37\u6b4c\u3002\u4f46\u9664\u6b64\u4e4b\u5916\uff0c\u6211\u628a\u5b83\u7528\u4f5c\u4e00\u500b\uff0c\u9700\u8981\u4e00\u500b\u5206\u6790\u5e2b\u70ba\u6211\u505a\u7814\u7a76\uff0c\u5b83\u662f GPT\u3002\u5b83\u5c07\u5275\u5efa\u6458\u8981\u548c\u5206\u6790\u3002\u6211\u7684\u610f\u601d\u662f\uff0c\u6709\u6642\u9019\u662f\u932f\u8aa4\u7684\uff0c\u4f46\u9019\u662f\u4e0d\u53ef\u601d\u8b70\u7684\u3002               \n \u5b89\u5854\u723e\n \u9019\u771f\u662f\u592a\u4e86\u4e0d\u8d77\u4e86\u3002\u6211\u5011\u5728\u54ea\u88e1\u53ef\u4ee5\u8207\u865b\u64ec\u7684 Fabrice \u4ea4\u8ac7\uff1f \n \u6cd5\u5e03\u88e1\u65af\n \u6240\u4ee5\u5982\u679c\u4f60\u53bb\u6211\u7684\u535a\u5ba2 Fabricegrinda.com\uff0c\u6709\u4e00\u500b Fabrice AI \u7684\u9023\u7d50\uff0c\u5b83\u7684\u6e96\u78ba\u6027\u4ee4\u4eba\u9707\u9a5a\u3002\u4f60\u53ef\u4ee5\u554f\u6211\u5011\u7684\u8ad6\u6587\u662f\u4ec0\u9ebc\uff0c\u5c0d\u4f60\u7684\u5275\u696d\u60f3\u6cd5\u7684\u53cd\u994b\u662f\u4ec0\u9ebc\uff0c\u7cfb\u5217\u7a2e\u5b50\u6216 A \u7684\u5e73\u5747\u4f30\u503c\u662f\u591a\u5c11\u3002\u4f60\u751a\u81f3\u53ef\u4ee5\u554f\u4e00\u4e9b\u95dc\u65bc\u5357\u6975\u6d32\u600e\u9ebc\u6a23\u3001\u6211\u5b78\u5230\u4e86\u4ec0\u9ebc\u3001\u5982\u4f55\u751f\u6d3b\u5728\u9178\u5149\u4e2d\u7684\u500b\u4eba\u554f\u984c\u3002\u6211\u7684\u610f\u601d\u662f\uff0c\u6211\u5beb\u904e\u7684\u95dc\u65bc\u4f60\u7684\u4efb\u4f55\u4e8b\u60c5\u90fd\u53ef\u4ee5\u5be6\u969b\u4e92\u52d5\uff0c\u800c\u4e14\u975e\u5e38\u6e96\u78ba\u3002\u6211\u76ee\u524d\u6b63\u5728\u7de8\u5beb\u63a5\u4e0b\u4f86\u7684\u5169\u500b\u7248\u672c\u3002    \n \u4e0b\u4e00\u500b\u7248\u672c\u662f\uff0c\u6211\u5c07\u64c1\u6709\u6211\u7684\u6578\u4f4d\u5316\u8eab\uff0c\u4e0a\u9762\u6709\u6211\u7684\u81c9\u3001\u8096\u50cf\u548c\u8072\u97f3\uff0c\u4f60\u5c07\u80fd\u5920\u8207\u5b83\u4ea4\u8ac7\u6216\u8b93\u5b83\u8207\u4f60\u4ea4\u8ac7\u3002\u60a8\u53ef\u4ee5\u76f4\u63a5\u6216\u901a\u904e\u7c21\u8a0a\u8207\u4e4b\u4ea4\u8ac7\u3002\u7136\u5f8c\u6211\u5617\u8a66\u7de8\u5beb\u4ee3\u78bc\uff0c\u4e0d\u4fdd\u8b49\u5b83\u662f\u5426\u6709\u6548\uff0cPitch Fabrice AI\uff0c\u73fe\u5728\uff0c\u6b63\u5982\u6211\u4e4b\u524d\u6240\u8aaa\uff0c\u6211\u5011\u6536\u5230 300 \u500b\u63d0\u6848\uff0c\u6211\u5011\u63a5\u807d 50 \u500b\u96fb\u8a71\uff0c\u6211\u5011\u5f97\u5230\u4ed6\u5011\u7684\u5f59\u5831\uff0c\u7136\u5f8c\u6211\u53ef\u80fd\u8207 5 \u500b\u4ea4\u8ac7\u3002\u5b83\u5c07\u5141\u8a31 250 \u4eba\uff0c\u5766\u7387\u5730\u8aaa\uff0c295 \u4eba\u8207\u6211\u7684\u67d0\u500b\u7248\u672c\u4ea4\u8ac7\u4e26\u7372\u5f97\u6709\u95dc\u4ed6\u5011\u60f3\u6cd5\u7684\u53cd\u994b\u3002\u5982\u679c\u5b83\u6709\u6548\u3002    \n \u5b89\u5854\u723e\n \u60a8\u662f\u5426\u770b\u5230\u865b\u64ec\u7684 Fabrice \u5750\u5728\u60a8\u7684\u6295\u8cc7\u59d4\u54e1\u6703\u4e2d\u4e26\u5728\u672a\u4f86\u505a\u51fa\u6295\u8cc7\u6c7a\u7b56\uff1f\n \u6cd5\u5e03\u88e1\u65af\n \u5b83\u6703\u63d0\u51fa\u5efa\u8b70\u3002\u6211\u5011\u6703\u770b\u770b\u5b83\u6703\u6709\u591a\u597d\u3002\u807d\u8457\uff0c\u6211\u53ea\u6709\u5728\u6211\u559c\u6b61\u5f59\u5831\u7684\u60c5\u6cc1\u4e0b\u624d\u6703\u4e0a\u7dda\u3002\u6240\u4ee5\u5f88\u660e\u986f\uff0c\u8f38\u5165\u662f\u5e7b\u71c8\u7247\uff0c\u6211\u5011\u8207\u5275\u59cb\u4eba\u7684\u73fe\u6709\u5c0d\u8a71\u8a18\u9304\uff0c\u7136\u5f8c\u662f\u6211\u5011\u7684\u5f59\u5831\u548c\u5efa\u8b70\u3002\u5982\u679c\u6211\u7d66\u5b83\u9935\u98df\u6578\u5343\u500b\u9019\u6a23\u7684\u98fc\u6599\uff0c\u5b83\u80fd\u5f97\u5230\u76f8\u7576\u6e96\u78ba\u6216\u826f\u597d\u7684\u98fc\u6599\u55ce\uff1f\u9019\u771f\u7684\u662f\uff0c\u518d\u4e00\u6b21\uff0c\u516c\u5171\u670d\u52d9\u4eba\u6027\u6216\u9032\u5165\u5275\u59cb\u4eba\u3002\u6211\u80fd\u544a\u8a34\u4f60\u55ce\uff0c\u54e6\uff0c\u4f60\u7684\u55ae\u4f4d\u7d93\u6fdf\u6548\u76ca\u5df2\u7d93\u88ab\u6df9\u6c92\u4e86\uff0c\u6216\u8005\u4f60\u592a\u65e9\u4e86\uff0c\u518d\u548c\u98a8\u96aa\u6295\u8cc7\u516c\u53f8\u8ac7\u8ac7\uff0c\u4f60\u9700\u8981\u66f4\u591a\u7684\u727d\u5f15\u529b\u3002\u5148\u53bb\u670b\u53cb\u548c\u5bb6\u4eba\u56de\u5408\u3002\u6216\u8005\u4f5c\u70ba\u5275\u59cb\u4eba\uff0c\u4f60\u771f\u7684\u9700\u8981\u66f4\u96c4\u8faf\u5730\u8868\u9054\u4f60\u6240\u8ffd\u6c42\u7684\u63a8\u92b7\uff0c\u6216\u8005\u4f60\u6240\u8ffd\u6c42\u7684\u985e\u5225\u592a\u5c0f\u3002 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