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Jiayu97

Jiayu97

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2021-04-16

Stonks

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2021-04-05

Hi

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2021-03-31

We want trump back pls

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2021-03-29

Comment

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2021-03-28

Like

Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote>

2021-03-26

Tesla to the moon

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2021-03-25

Apple stop falling

Apple Failure Modes<blockquote>苹果失效模式</blockquote>

2021-03-24

Good

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2021-03-23

Like and comment

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2021-03-22

Apple and tesla do be tanking

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2021-03-20

Like my comment

Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>

2021-03-18

Hi

Apple Spent $2.8B Raised From Green Bond Issue For Clean Energy Projects<blockquote>苹果将绿色债券发行筹集的 2.8B 美元用于清洁能源项目</blockquote>

2021-03-17

Comment

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2021-03-17

Ok

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去老虎APP查看更多动态

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want trump back pls","listText":"We want trump back pls","text":"We want trump back 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23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度还有几天就结束了。这意味着汽车制造商将提供更多交付数据。对于投资者来说，这些数字将比平时更高。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等高估值、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车 (GM) 和福特汽车 (F) 最近都意外停工，并称芯片问题是 2021 年数十亿美元的利润阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给予特斯拉或任何其他快速增长的电动汽车制造商通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不乐观。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>蔚来（蔚来）股价在周五交易中下跌超过 6%，此前这家电动汽车制造商将第一季度交付量指引从约 20,250 辆下调至约 19,500 辆。蔚来管理层以芯片短缺为由，将从 3 月 29 日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉来说，华尔街正在寻找 3 月份交付的约 162,000 辆汽车。这低于最高估计的约 18.3 万辆汽车。分析师似乎正在减少数字，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约 181,000 辆汽车。对于 2021 年全年，分析师预计将交付近 80 万辆汽车，同比增长约 60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>加拿大皇家银行分析师乔·斯帕克 (Joe Spak) 预测第一季度交付量为 170,000 辆，同比增长 90% 以上。他还预测，特斯拉本季度将在加州生产 96,000 辆汽车，在华生产 74,000 辆汽车。“Spak在周四的一份报告中写道：”共识[估计]看起来大多是合理的。“我们确实在寻找最新消息，看看半短缺对特斯拉的影响--就像对整个行业的影响一样。”他认为，由于芯片的影响，预测存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak 将特斯拉股票评级为持有，目标股价为 725 美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。增长率上升主要有两种方式。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在未来很长一段时间内产生的。相对而言，当投资者今天可以从现金中获得更高的利率时，这种现金流的价值就会降低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在 2020 年上涨超过 740% 后，今年迄今已下跌约 10%。周五早盘交易中，股价下跌 0.9%，至 634.40 美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 23:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度还有几天就结束了。这意味着汽车制造商将提供更多交付数据。对于投资者来说，这些数字将比平时更高。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等高估值、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车 (GM) 和福特汽车 (F) 最近都意外停工，并称芯片问题是 2021 年数十亿美元的利润阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给予特斯拉或任何其他快速增长的电动汽车制造商通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不乐观。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>蔚来（蔚来）股价在周五交易中下跌超过 6%，此前这家电动汽车制造商将第一季度交付量指引从约 20,250 辆下调至约 19,500 辆。蔚来管理层以芯片短缺为由，将从 3 月 29 日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉来说，华尔街正在寻找 3 月份交付的约 162,000 辆汽车。这低于最高估计的约 18.3 万辆汽车。分析师似乎正在减少数字，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约 181,000 辆汽车。对于 2021 年全年，分析师预计将交付近 80 万辆汽车，同比增长约 60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>加拿大皇家银行分析师乔·斯帕克 (Joe Spak) 预测第一季度交付量为 170,000 辆，同比增长 90% 以上。他还预测，特斯拉本季度将在加州生产 96,000 辆汽车，在华生产 74,000 辆汽车。“Spak在周四的一份报告中写道：”共识[估计]看起来大多是合理的。“我们确实在寻找最新消息，看看半短缺对特斯拉的影响--就像对整个行业的影响一样。”他认为，由于芯片的影响，预测存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak 将特斯拉股票评级为持有，目标股价为 725 美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。增长率上升主要有两种方式。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在未来很长一段时间内产生的。相对而言，当投资者今天可以从现金中获得更高的利率时，这种现金流的价值就会降低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在 2020 年上涨超过 740% 后，今年迄今已下跌约 10%。周五早盘交易中，股价下跌 0.9%，至 634.40 美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356998670,"gmtCreate":1616747284490,"gmtModify":1634524228214,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Tesla to the moon","listText":"Tesla to the moon","text":"Tesla to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/356998670","repostId":"1147585149","repostType":4,"isVote":1,"tweetType":1,"viewCount":2468,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358101886,"gmtCreate":1616669195945,"gmtModify":1634524653946,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Apple stop falling","listText":"Apple stop falling","text":"Apple stop falling","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/358101886","repostId":"1139908626","repostType":4,"repost":{"id":"1139908626","kind":"news","pubTimestamp":1616663752,"share":"https://www.laohunote.com/m/news/1139908626?lang=zh_CN&edition=full","pubTime":"2021-03-25 17:15","market":"us","language":"en","title":"Apple Failure Modes<blockquote>苹果失效模式</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139908626","media":"Medium","summary":"Apple has avoided the types of failures that have beset so many tech giants. From the HP I dearly loved and the IBM we once feared, to Palm, Nokia, Blackberry, and many more…Will Apple eventually follow a similar trajectory and either disappear or recede into the shadows?Or can Tim Cook continue to keep the Steve Jobs Apple 2.0 miracle alive almost a decade after the magician’s passing?The Monday Note has been on an irregular hiatus as I labor on a book chronicling my picaresque half century in ","content":"<p><i>Apple has avoided the types of failures that have beset so many tech giants. From the HP I dearly loved and the IBM we once feared, to Palm, Nokia, Blackberry, and many more… Will Apple eventually follow a similar trajectory and either disappear or recede into the shadows? Or can Tim Cook continue to keep the Steve Jobs Apple 2.0 miracle alive almost a decade after the magician’s passing?</i></p><p><blockquote><i>苹果避免了困扰许多科技巨头的失败类型。从我深爱的惠普和我们曾经害怕的IBM，到Palm、诺基亚、黑莓等等……苹果最终会遵循类似的轨迹，要么消失，要么退入阴影吗？或者，蒂姆-库克能否在乔布斯去世近十年后继续保持乔布斯苹果 2.0 奇迹？</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/028afa8092cf5134580f1cb4b8bd6596\" tg-width=\"1050\" tg-height=\"590\"></p><p><blockquote></blockquote></p><p> The Monday Note has been on an irregular hiatus as I labor on a book chronicling my picaresque half century in the tech world. While I only spent ten of those years inside Apple, gravity exerts its pull and the book sometimes feels centered on the company that allowed me to fulfill two dreams: Coming to the US and leading a product engineering organization.</p><p><blockquote>周一的笔记已经不定期地中断了，因为我正在写一本记录我在科技界流浪汉半个世纪的书。虽然我只在苹果呆了十年，但地心引力发挥了它的吸引力，这本书有时感觉是以那家让我实现两个梦想的公司为中心的：来到美国，领导一个产品工程组织。</blockquote></p><p> Writing about the early days at Apple led me to contemplate how the ambitious but struggling company became today’s $2T enterprise, how it avoided the “failure formulas” we’ve seen in so many grandees of the industry.</p><p><blockquote>写下苹果的早期，我开始思考这家雄心勃勃但苦苦挣扎的公司是如何成为今天价值 2 万亿美元的企业的，它是如何避免我们在业内许多大公司身上看到的 “失败公式”的。</blockquote></p><p> Nokia, Palm, and Blackberry followed a relatively simple failure recipe. When the first generation iPhone was announced, they dismissed the threat, impugning Apple’s ability to play in their arena. Then Android devices arrived, and the giants refused to back down: ’<i>We know what we’re doing,just look at our numbers!</i>’.</p><p><blockquote>诺基亚、Palm和黑莓遵循了一个相对简单的失败秘诀。当第一代 iPhone 发布时，他们驳斥了这一威胁，指责苹果有能力在他们的领域发挥作用。然后Android设备出现了，巨头们拒绝退缩：<i>我们知道我们在做什么，看看我们的数字!</i>’.</blockquote></p><p> My good old HP is a&nbsp;much more complicated story. On the technical side, it allowed its superb desktop computing business to be disrupted by “cheap” 8-bit processors, but the real problems were cultural and political: A revolving door in the CEO suite, a Board of Directors that spied on each other, no coherent corporate strategy leading to catastrophic acquisitions followed by spinoffs…</p><p><blockquote>我的旧惠普是一个复杂得多的故事。在技术方面，该公司允许其卓越的桌面计算业务被 “廉价 ”的 8 位处理器所颠覆，但真正的问题是文化和政治问题：首席执行官办公室里有一扇旋转门，董事会互相监视，缺乏连贯的企业战略，导致灾难性的收购和分拆..</blockquote></p><p> No company has been as powerful and then fallen as far as IBM. Once known as The Company, its mainframe products and services dominated business computing, its management methods were exemplary. (In the mid-seventies I was given a copy of the all-encompassing Manager’s Guide and was in awe with the depth and scope of the work.) Then, the PC happened, a product category IBM initially seized, only to lose it by letting clones powered by Microsoft software flood the market and kill its margins.</p><p><blockquote>没有一家公司像IBM一样强大，然后又衰落。曾经被称为公司，其大型机产品和服务主导了商业计算，其管理方法堪称典范。(七十年代中期，我得到了一本《无所不包的经理指南》，我对这项工作的深度和范围感到敬畏）。后来，IBM 最初抓住了 PC 这个产品类别，但由于让微软软件驱动的克隆产品充斥市场，扼杀了它的利润，失去了它。</blockquote></p><p> A decade later when the Internet and networked servers changed the game, IBM wasn’t ready and almost went bust, only to be saved by Lou Gerstner…at least for a while. Unfortunately, Gerstner’s successors were unable to harness the relentless growth of Cloud Computing, and now the company has fractured. The current CEO, Arvind Krishna, recently decided to split IBM into“Two Market-Leading Companies with Focused Strategies”. The larger entity keeps the IBM name, the smaller as yet unnamed company rids IBM of a low-margin, low hope, ferociously competitive IT infrastructure business.</p><p><blockquote>十年后，当互联网和网络化服务器改变了游戏规则时，IBM 还没有做好准备，几乎破产，但卢-郭士纳（Lou Gerstner）救了他.至少在一段时间内救了他。不幸的是，郭士纳的继任者们未能驾驭云计算的无情增长，现在公司已经分崩离析。现任首席执行官阿尔温德-克里希纳（Arvind Krishna）最近决定将 IBM 拆分为 “两家市场领先、战略专注的公司”。较大的实体保留了IBM的名字，较小但尚未命名的公司剥夺了IBM低利润、低希望、竞争激烈的IT基础设施业务。</blockquote></p><p> Microsoft offers an interesting counterexample of success after it made an historic, expensive miss. Late to the smartphone game, the company gave Nokia special licensing terms for its Windows Phone OS, only to see the partnership flounder. Despairing, Microsoft bought Nokia for $7.2B in 2013 and took a $7.6B writeoff two years later, followed by another $900M the following year. The clean-up job was left to Satya Nadella who took the reins from Steve Ballmer in 2014. Since then, Microsoft has prospered as the company has focused on software and Cloud services for organizations. As a part of that refocus the Microsoft stores, modeled after the Apple Store, have been shuttered.</p><p><blockquote>微软在犯下历史性的、代价高昂的错误后，提供了一个有趣的成功反例。在智能手机游戏后期，该公司为诺基亚的Windows Phone操作系统提供了特殊的许可条款，结果却看到合作伙伴关系陷入困境。绝望的是，微软在2013年以72亿美元收购了诺基亚，两年后注销了76亿美元，第二年又注销了9亿美元。清理工作留给了2014年从史蒂夫·鲍尔默手中接管的萨蒂亚·纳德拉。从那时起，随着该公司专注于为组织提供软件和云服务，微软蓬勃发展。作为重新聚焦的一部分，模仿苹果商店的微软商店已经关闭。</blockquote></p><p> While these failure stories hold some lessons for Apple, some of them are actually reassuring.</p><p><blockquote>虽然这些失败的故事给苹果带来了一些教训，但其中一些实际上令人放心。</blockquote></p><p> For example, it takes more than one substantial mistake for a large company to begin its decline. The Apple Maps debut and “Antennagate”, as examples, were embarrassing but didn’t do any lasting harm. To be sure, two mediocre iPhone vintages in succession would have a deleterious effect on image and finances, but even that could be survived, especially in today’s quasi-saturated market. And as the Microsoft example shows us, seriously missing an industry wave (smartphones) can be overcome by jumping on a new one (the Cloud aided by the Windows/Office flywheel). This may shed light on Apple’s efforts to give more momentum to the Services business, a flywheel in its own right.</p><p><blockquote>例如，一家大公司开始衰落需要不止一个重大错误。苹果地图的处女作和《天线之门》就是例子，虽然令人尴尬，但并没有造成任何持久的伤害。可以肯定的是，连续两款平庸的 iPhone 会对形象和财务产生有害影响，但即便如此，也有可能生存下来，尤其是在当今准饱和的市场中。正如微软的例子向我们展示的那样，严重错过一个行业浪潮（智能手机）可以通过跳上一个新的浪潮（Windows/Office飞轮辅助的云）来克服。这可能会揭示苹果为推动服务业发展所做的努力，而服务业本身就是一个飞轮。</blockquote></p><p> Apple’s iCloud is a different story. True, “cloud” is a very broad term and many of the company’s cloud services are so taken-for-granted as to be almost invisible. For example, iPhone photos live in the petabytes or exabytes of cloud storage that propagates nicely to users’ devices. The same is true for Music and more.</p><p><blockquote>苹果的 iCloud 则是另一回事。诚然，“云 ”是一个非常宽泛的术语，该公司的许多云服务都是理所当然的，几乎看不见。例如，iPhone 照片存储在 PB 或 EB 的云存储中，可以很好地传播到用户的设备上。音乐等也是如此。</blockquote></p><p></p><p> While iCloud as a product has come a long way since the 2008 MobileMe, the&nbsp;Exchange For The Rest Of Us&nbsp;that&nbsp;embarrassed Steve Jobs, it’s often sluggish and buggy (even now as I attempt to use Pages “as we speak”). It lacks the power and polish that Google and Dropbox have to offer. That said, one shouldn’t expect Apple to offer iCloud services in the way that Amazon Web Services, Google Cloud, and Microsoft Azure do. In fact, Apple in part&nbsp;depends on AWS&nbsp;and others for its own infrastructure — a contentious internal topic.</p><p><blockquote>虽然 iCloud 作为一款产品，自 2008 年 MobileMe（让史蒂夫-乔布斯（Steve Jobs）感到尴尬的交换）以来已经取得了长足的进步，但它往往表现缓慢且存在缺陷（即使是现在，当我尝试 “说话时 ”使用页面时）。它缺乏谷歌和Dropbox所提供的力量和润色。尽管如此，我们不应该指望苹果会像亚马逊网络服务、谷歌云和微软 Azure 那样提供 iCloud 服务。事实上，苹果自己的基础设施部分依赖 AWS 和其他公司——这是一个有争议的内部话题。</blockquote></p><p> Apple’s record with Artificial Intelligence (another broad domain) is surely a sore point in the Board Room. Although the company was “there” first with Siri, the company watched as Google and Amazon surpassed them to become the leaders in Intelligent Assistant applications. In everyday life, one can see modest progress in Siri’s usefulness and pervasiveness, and we can hope Senior VP of Machine Learning and AI Strategy&nbsp;John Giannandrea, a Google alumnus with a distinguished résumé who joined Apple in 2018, will set things right.</p><p><blockquote>苹果在人工智能（另一个广泛领域）方面的记录无疑是董事会的一个痛点。虽然该公司率先推出了 Siri，但该公司眼睁睁地看着谷歌和亚马逊超越它们，成为智能助理应用的领导者。在日常生活中，我们可以看到 Siri 的实用性和普及性取得了适度的进步，我们可以希望机器学习和人工智能战略高级副总裁 John Giannandrea 能够纠正错误。</blockquote></p><p> Apple’s strengths are not to be discounted when considering failure modes. Its hardware, software, and supply chain management is unrivaled. But let’s focus on a less lauded advantage, the power of its organizational structure.</p><p><blockquote>在考虑故障模式时，苹果的优势不容小觑。其硬件、软件和供应链管理是无与伦比的。但让我们把重点放在一个不太被称赞的优势上，那就是其组织结构的力量。</blockquote></p><p> To simplify, there are no&nbsp;<i>divisions</i>&nbsp;at Apple, no iPhone, Mac, or AirPod “subcompany”. Instead, there are&nbsp;<i>functions</i>&nbsp;as sketched by the&nbsp;Apple Leadership&nbsp;chart (helpful job details are accessed when clicking on the names):</p><p><blockquote>简单来说，没有<i>司</i>在苹果，没有 iPhone、Mac 或 AirPod 的“子公司”。相反，有<i>功能</i>如苹果领导力图表所示（点击名称可访问有用的职位详细信息）：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b887dfe02642de363c4b17cc7f5e4f47\" tg-width=\"1050\" tg-height=\"1806\"></p><p><blockquote></blockquote></p><p> When Apple develops a new product — I’ll avoid titillating possibilities — work is organized around<i>projects</i>. A project group is formed by drawing on functions such as Software Engineering, Operations, Hardware Technologies, and so on. Some team members, for activities such as Product Design or Operations, may work on more than one project. The group exists as long as the project exists and is disbanded if the product is canceled or put on the shelf.</p><p><blockquote>当苹果开发新产品时--我将避免诱人的可能性--工作是围绕<i>项目</i>.项目组是借鉴软件工程、运营、硬件技术等职能组成的。对于产品设计或运营等活动，一些团队成员可能从事多个项目。只要项目存在，该集团就存在，如果产品被取消或上架，该集团就会解散。</blockquote></p><p> One of the things that beset HP was its divisional structure with the unavoidable rivalries, territorial disputes, and fights over resources. Customers, of course, don’t care about divisons, they care about products. Apple’s robust, flexible,<i>functional</i>organization helps everyone focus on products and customers.</p><p><blockquote>困扰惠普的事情之一是其部门结构，不可避免的竞争、领土争端和资源争夺。当然，客户并不关心部门，他们关心的是产品。苹果坚固、灵活、<i>功能性的</i>组织帮助每个人专注于产品和客户。</blockquote></p><p> It’s an extremely valuable Steve Jobs legacy.</p><p><blockquote>这是史蒂夫-乔布斯极其宝贵的遗产。</blockquote></p><p> Does this mean Apple is immune to large scale failure, that it won’t someday take the path HP or IBM did?</p><p><blockquote>这是否意味着苹果不会受到大规模失败的影响，有一天它不会重蹈惠普或 IBM 的覆辙？</blockquote></p><p> No.</p><p><blockquote>没有。</blockquote></p><p> In a quest for the next engine of growth, Apple could take big risks such as trying to enter the auto industry, either in a frontal assault against Tesla, Toyota, and “Deutsche AG” (German car makers), or in more original forms of individual mobility. Or it could be tempted by the humongous amounts of money spent on healthcare.</p><p><blockquote>在寻找下一个增长引擎的过程中，苹果可能会冒很大的风险，比如试图进入汽车行业，要么正面攻击特斯拉、丰田和 “德意志股份公司 ”（德国汽车制造商），要么以更新颖的个人出行方式进军汽车行业。或者它可能会被花在医疗保健上的巨额资金所诱惑。</blockquote></p><p> And no matter how powerful its organizational structure is, Apple, like every company, is susceptible to personal mediocrity: Insecure B-grade managers hire C-grade players who won’t challenge their authority or their “expertise”, and products suffer as a result. We know the old organization joke: When upper layer people look down, they see brains; when brains in the lower layers look up, they see #$$holes. For an organization, the beginning of the end comes when the brains realize the upper layers are colonized by incompetents and get into Why Bother Mode. I don’t know enough about the company’s hiring and firing practices but, in my nervous mind, this is the biggest risk to Apple. From a distance, it’s impossible to know how hard Apple works to avoid a form of degenerative failure.</p><p><blockquote>无论组织结构多么强大，苹果和所有公司一样，都容易受到个人平庸的影响：缺乏安全感的 B 级经理会雇佣 C 级球员，而这些球员不会挑战他们的权威或 “专业知识 ”，产品也会因此受到影响。我们知道老组织笑话：当上层的人往下看时，他们看到的是大脑；当较低层的大脑抬头时，他们看到#$$洞。对于一个组织来说，当大脑意识到上层被无能的人殖民，并进入何必麻烦模式时，末日的开始就来了。我对公司的招聘和解雇做法了解不够，但在我紧张的头脑中，这是苹果面临的最大风险。从远处看，我们无法知道苹果是如何努力避免某种形式的退化失败的。</blockquote></p><p></p>","source":"lsy1616663746307","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Failure Modes<blockquote>苹果失效模式</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Failure Modes<blockquote>苹果失效模式</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Medium</strong><span class=\"h-time small\">2021-03-25 17:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>Apple has avoided the types of failures that have beset so many tech giants. From the HP I dearly loved and the IBM we once feared, to Palm, Nokia, Blackberry, and many more… Will Apple eventually follow a similar trajectory and either disappear or recede into the shadows? Or can Tim Cook continue to keep the Steve Jobs Apple 2.0 miracle alive almost a decade after the magician’s passing?</i></p><p><blockquote><i>苹果避免了困扰许多科技巨头的失败类型。从我深爱的惠普和我们曾经害怕的IBM，到Palm、诺基亚、黑莓等等……苹果最终会遵循类似的轨迹，要么消失，要么退入阴影吗？或者，蒂姆-库克能否在乔布斯去世近十年后继续保持乔布斯苹果 2.0 奇迹？</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/028afa8092cf5134580f1cb4b8bd6596\" tg-width=\"1050\" tg-height=\"590\"></p><p><blockquote></blockquote></p><p> The Monday Note has been on an irregular hiatus as I labor on a book chronicling my picaresque half century in the tech world. While I only spent ten of those years inside Apple, gravity exerts its pull and the book sometimes feels centered on the company that allowed me to fulfill two dreams: Coming to the US and leading a product engineering organization.</p><p><blockquote>周一的笔记已经不定期地中断了，因为我正在写一本记录我在科技界流浪汉半个世纪的书。虽然我只在苹果呆了十年，但地心引力发挥了它的吸引力，这本书有时感觉是以那家让我实现两个梦想的公司为中心的：来到美国，领导一个产品工程组织。</blockquote></p><p> Writing about the early days at Apple led me to contemplate how the ambitious but struggling company became today’s $2T enterprise, how it avoided the “failure formulas” we’ve seen in so many grandees of the industry.</p><p><blockquote>写下苹果的早期，我开始思考这家雄心勃勃但苦苦挣扎的公司是如何成为今天价值 2 万亿美元的企业的，它是如何避免我们在业内许多大公司身上看到的 “失败公式”的。</blockquote></p><p> Nokia, Palm, and Blackberry followed a relatively simple failure recipe. When the first generation iPhone was announced, they dismissed the threat, impugning Apple’s ability to play in their arena. Then Android devices arrived, and the giants refused to back down: ’<i>We know what we’re doing,just look at our numbers!</i>’.</p><p><blockquote>诺基亚、Palm和黑莓遵循了一个相对简单的失败秘诀。当第一代 iPhone 发布时，他们驳斥了这一威胁，指责苹果有能力在他们的领域发挥作用。然后Android设备出现了，巨头们拒绝退缩：<i>我们知道我们在做什么，看看我们的数字!</i>’.</blockquote></p><p> My good old HP is a&nbsp;much more complicated story. On the technical side, it allowed its superb desktop computing business to be disrupted by “cheap” 8-bit processors, but the real problems were cultural and political: A revolving door in the CEO suite, a Board of Directors that spied on each other, no coherent corporate strategy leading to catastrophic acquisitions followed by spinoffs…</p><p><blockquote>我的旧惠普是一个复杂得多的故事。在技术方面，该公司允许其卓越的桌面计算业务被 “廉价 ”的 8 位处理器所颠覆，但真正的问题是文化和政治问题：首席执行官办公室里有一扇旋转门，董事会互相监视，缺乏连贯的企业战略，导致灾难性的收购和分拆..</blockquote></p><p> No company has been as powerful and then fallen as far as IBM. Once known as The Company, its mainframe products and services dominated business computing, its management methods were exemplary. (In the mid-seventies I was given a copy of the all-encompassing Manager’s Guide and was in awe with the depth and scope of the work.) Then, the PC happened, a product category IBM initially seized, only to lose it by letting clones powered by Microsoft software flood the market and kill its margins.</p><p><blockquote>没有一家公司像IBM一样强大，然后又衰落。曾经被称为公司，其大型机产品和服务主导了商业计算，其管理方法堪称典范。(七十年代中期，我得到了一本《无所不包的经理指南》，我对这项工作的深度和范围感到敬畏）。后来，IBM 最初抓住了 PC 这个产品类别，但由于让微软软件驱动的克隆产品充斥市场，扼杀了它的利润，失去了它。</blockquote></p><p> A decade later when the Internet and networked servers changed the game, IBM wasn’t ready and almost went bust, only to be saved by Lou Gerstner…at least for a while. Unfortunately, Gerstner’s successors were unable to harness the relentless growth of Cloud Computing, and now the company has fractured. The current CEO, Arvind Krishna, recently decided to split IBM into“Two Market-Leading Companies with Focused Strategies”. The larger entity keeps the IBM name, the smaller as yet unnamed company rids IBM of a low-margin, low hope, ferociously competitive IT infrastructure business.</p><p><blockquote>十年后，当互联网和网络化服务器改变了游戏规则时，IBM 还没有做好准备，几乎破产，但卢-郭士纳（Lou Gerstner）救了他.至少在一段时间内救了他。不幸的是，郭士纳的继任者们未能驾驭云计算的无情增长，现在公司已经分崩离析。现任首席执行官阿尔温德-克里希纳（Arvind Krishna）最近决定将 IBM 拆分为 “两家市场领先、战略专注的公司”。较大的实体保留了IBM的名字，较小但尚未命名的公司剥夺了IBM低利润、低希望、竞争激烈的IT基础设施业务。</blockquote></p><p> Microsoft offers an interesting counterexample of success after it made an historic, expensive miss. Late to the smartphone game, the company gave Nokia special licensing terms for its Windows Phone OS, only to see the partnership flounder. Despairing, Microsoft bought Nokia for $7.2B in 2013 and took a $7.6B writeoff two years later, followed by another $900M the following year. The clean-up job was left to Satya Nadella who took the reins from Steve Ballmer in 2014. Since then, Microsoft has prospered as the company has focused on software and Cloud services for organizations. As a part of that refocus the Microsoft stores, modeled after the Apple Store, have been shuttered.</p><p><blockquote>微软在犯下历史性的、代价高昂的错误后，提供了一个有趣的成功反例。在智能手机游戏后期，该公司为诺基亚的Windows Phone操作系统提供了特殊的许可条款，结果却看到合作伙伴关系陷入困境。绝望的是，微软在2013年以72亿美元收购了诺基亚，两年后注销了76亿美元，第二年又注销了9亿美元。清理工作留给了2014年从史蒂夫·鲍尔默手中接管的萨蒂亚·纳德拉。从那时起，随着该公司专注于为组织提供软件和云服务，微软蓬勃发展。作为重新聚焦的一部分，模仿苹果商店的微软商店已经关闭。</blockquote></p><p> While these failure stories hold some lessons for Apple, some of them are actually reassuring.</p><p><blockquote>虽然这些失败的故事给苹果带来了一些教训，但其中一些实际上令人放心。</blockquote></p><p> For example, it takes more than one substantial mistake for a large company to begin its decline. The Apple Maps debut and “Antennagate”, as examples, were embarrassing but didn’t do any lasting harm. To be sure, two mediocre iPhone vintages in succession would have a deleterious effect on image and finances, but even that could be survived, especially in today’s quasi-saturated market. And as the Microsoft example shows us, seriously missing an industry wave (smartphones) can be overcome by jumping on a new one (the Cloud aided by the Windows/Office flywheel). This may shed light on Apple’s efforts to give more momentum to the Services business, a flywheel in its own right.</p><p><blockquote>例如，一家大公司开始衰落需要不止一个重大错误。苹果地图的处女作和《天线之门》就是例子，虽然令人尴尬，但并没有造成任何持久的伤害。可以肯定的是，连续两款平庸的 iPhone 会对形象和财务产生有害影响，但即便如此，也有可能生存下来，尤其是在当今准饱和的市场中。正如微软的例子向我们展示的那样，严重错过一个行业浪潮（智能手机）可以通过跳上一个新的浪潮（Windows/Office飞轮辅助的云）来克服。这可能会揭示苹果为推动服务业发展所做的努力，而服务业本身就是一个飞轮。</blockquote></p><p> Apple’s iCloud is a different story. True, “cloud” is a very broad term and many of the company’s cloud services are so taken-for-granted as to be almost invisible. For example, iPhone photos live in the petabytes or exabytes of cloud storage that propagates nicely to users’ devices. The same is true for Music and more.</p><p><blockquote>苹果的 iCloud 则是另一回事。诚然，“云 ”是一个非常宽泛的术语，该公司的许多云服务都是理所当然的，几乎看不见。例如，iPhone 照片存储在 PB 或 EB 的云存储中，可以很好地传播到用户的设备上。音乐等也是如此。</blockquote></p><p></p><p> While iCloud as a product has come a long way since the 2008 MobileMe, the&nbsp;Exchange For The Rest Of Us&nbsp;that&nbsp;embarrassed Steve Jobs, it’s often sluggish and buggy (even now as I attempt to use Pages “as we speak”). It lacks the power and polish that Google and Dropbox have to offer. That said, one shouldn’t expect Apple to offer iCloud services in the way that Amazon Web Services, Google Cloud, and Microsoft Azure do. In fact, Apple in part&nbsp;depends on AWS&nbsp;and others for its own infrastructure — a contentious internal topic.</p><p><blockquote>虽然 iCloud 作为一款产品，自 2008 年 MobileMe（让史蒂夫-乔布斯（Steve Jobs）感到尴尬的交换）以来已经取得了长足的进步，但它往往表现缓慢且存在缺陷（即使是现在，当我尝试 “说话时 ”使用页面时）。它缺乏谷歌和Dropbox所提供的力量和润色。尽管如此，我们不应该指望苹果会像亚马逊网络服务、谷歌云和微软 Azure 那样提供 iCloud 服务。事实上，苹果自己的基础设施部分依赖 AWS 和其他公司——这是一个有争议的内部话题。</blockquote></p><p> Apple’s record with Artificial Intelligence (another broad domain) is surely a sore point in the Board Room. Although the company was “there” first with Siri, the company watched as Google and Amazon surpassed them to become the leaders in Intelligent Assistant applications. In everyday life, one can see modest progress in Siri’s usefulness and pervasiveness, and we can hope Senior VP of Machine Learning and AI Strategy&nbsp;John Giannandrea, a Google alumnus with a distinguished résumé who joined Apple in 2018, will set things right.</p><p><blockquote>苹果在人工智能（另一个广泛领域）方面的记录无疑是董事会的一个痛点。虽然该公司率先推出了 Siri，但该公司眼睁睁地看着谷歌和亚马逊超越它们，成为智能助理应用的领导者。在日常生活中，我们可以看到 Siri 的实用性和普及性取得了适度的进步，我们可以希望机器学习和人工智能战略高级副总裁 John Giannandrea 能够纠正错误。</blockquote></p><p> Apple’s strengths are not to be discounted when considering failure modes. Its hardware, software, and supply chain management is unrivaled. But let’s focus on a less lauded advantage, the power of its organizational structure.</p><p><blockquote>在考虑故障模式时，苹果的优势不容小觑。其硬件、软件和供应链管理是无与伦比的。但让我们把重点放在一个不太被称赞的优势上，那就是其组织结构的力量。</blockquote></p><p> To simplify, there are no&nbsp;<i>divisions</i>&nbsp;at Apple, no iPhone, Mac, or AirPod “subcompany”. Instead, there are&nbsp;<i>functions</i>&nbsp;as sketched by the&nbsp;Apple Leadership&nbsp;chart (helpful job details are accessed when clicking on the names):</p><p><blockquote>简单来说，没有<i>司</i>在苹果，没有 iPhone、Mac 或 AirPod 的“子公司”。相反，有<i>功能</i>如苹果领导力图表所示（点击名称可访问有用的职位详细信息）：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b887dfe02642de363c4b17cc7f5e4f47\" tg-width=\"1050\" tg-height=\"1806\"></p><p><blockquote></blockquote></p><p> When Apple develops a new product — I’ll avoid titillating possibilities — work is organized around<i>projects</i>. A project group is formed by drawing on functions such as Software Engineering, Operations, Hardware Technologies, and so on. Some team members, for activities such as Product Design or Operations, may work on more than one project. The group exists as long as the project exists and is disbanded if the product is canceled or put on the shelf.</p><p><blockquote>当苹果开发新产品时--我将避免诱人的可能性--工作是围绕<i>项目</i>.项目组是借鉴软件工程、运营、硬件技术等职能组成的。对于产品设计或运营等活动，一些团队成员可能从事多个项目。只要项目存在，该集团就存在，如果产品被取消或上架，该集团就会解散。</blockquote></p><p> One of the things that beset HP was its divisional structure with the unavoidable rivalries, territorial disputes, and fights over resources. Customers, of course, don’t care about divisons, they care about products. Apple’s robust, flexible,<i>functional</i>organization helps everyone focus on products and customers.</p><p><blockquote>困扰惠普的事情之一是其部门结构，不可避免的竞争、领土争端和资源争夺。当然，客户并不关心部门，他们关心的是产品。苹果坚固、灵活、<i>功能性的</i>组织帮助每个人专注于产品和客户。</blockquote></p><p> It’s an extremely valuable Steve Jobs legacy.</p><p><blockquote>这是史蒂夫-乔布斯极其宝贵的遗产。</blockquote></p><p> Does this mean Apple is immune to large scale failure, that it won’t someday take the path HP or IBM did?</p><p><blockquote>这是否意味着苹果不会受到大规模失败的影响，有一天它不会重蹈惠普或 IBM 的覆辙？</blockquote></p><p> No.</p><p><blockquote>没有。</blockquote></p><p> In a quest for the next engine of growth, Apple could take big risks such as trying to enter the auto industry, either in a frontal assault against Tesla, Toyota, and “Deutsche AG” (German car makers), or in more original forms of individual mobility. Or it could be tempted by the humongous amounts of money spent on healthcare.</p><p><blockquote>在寻找下一个增长引擎的过程中，苹果可能会冒很大的风险，比如试图进入汽车行业，要么正面攻击特斯拉、丰田和 “德意志股份公司 ”（德国汽车制造商），要么以更新颖的个人出行方式进军汽车行业。或者它可能会被花在医疗保健上的巨额资金所诱惑。</blockquote></p><p> And no matter how powerful its organizational structure is, Apple, like every company, is susceptible to personal mediocrity: Insecure B-grade managers hire C-grade players who won’t challenge their authority or their “expertise”, and products suffer as a result. We know the old organization joke: When upper layer people look down, they see brains; when brains in the lower layers look up, they see #$$holes. For an organization, the beginning of the end comes when the brains realize the upper layers are colonized by incompetents and get into Why Bother Mode. I don’t know enough about the company’s hiring and firing practices but, in my nervous mind, this is the biggest risk to Apple. From a distance, it’s impossible to know how hard Apple works to avoid a form of degenerative failure.</p><p><blockquote>无论组织结构多么强大，苹果和所有公司一样，都容易受到个人平庸的影响：缺乏安全感的 B 级经理会雇佣 C 级球员，而这些球员不会挑战他们的权威或 “专业知识 ”，产品也会因此受到影响。我们知道老组织笑话：当上层的人往下看时，他们看到的是大脑；当较低层的大脑抬头时，他们看到#$$洞。对于一个组织来说，当大脑意识到上层被无能的人殖民，并进入何必麻烦模式时，末日的开始就来了。我对公司的招聘和解雇做法了解不够，但在我紧张的头脑中，这是苹果面临的最大风险。从远处看，我们无法知道苹果是如何努力避免某种形式的退化失败的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://mondaynote.com/apple-failure-modes-a5c9e1c9ffb0\">Medium</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://mondaynote.com/apple-failure-modes-a5c9e1c9ffb0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139908626","content_text":"Apple has avoided the types of failures that have beset so many tech giants. From the HP I dearly loved and the IBM we once feared, to Palm, Nokia, Blackberry, and many more… Will Apple eventually follow a similar trajectory and either disappear or recede into the shadows? Or can Tim Cook continue to keep the Steve Jobs Apple 2.0 miracle alive almost a decade after the magician’s passing?\n\nThe Monday Note has been on an irregular hiatus as I labor on a book chronicling my picaresque half century in the tech world. While I only spent ten of those years inside Apple, gravity exerts its pull and the book sometimes feels centered on the company that allowed me to fulfill two dreams: Coming to the US and leading a product engineering organization.\nWriting about the early days at Apple led me to contemplate how the ambitious but struggling company became today’s $2T enterprise, how it avoided the “failure formulas” we’ve seen in so many grandees of the industry.\nNokia, Palm, and Blackberry followed a relatively simple failure recipe. When the first generation iPhone was announced, they dismissed the threat, impugning Apple’s ability to play in their arena. Then Android devices arrived, and the giants refused to back down: ’We know what we’re doing,just look at our numbers!’.\nMy good old HP is a much more complicated story. On the technical side, it allowed its superb desktop computing business to be disrupted by “cheap” 8-bit processors, but the real problems were cultural and political: A revolving door in the CEO suite, a Board of Directors that spied on each other, no coherent corporate strategy leading to catastrophic acquisitions followed by spinoffs…\nNo company has been as powerful and then fallen as far as IBM. Once known as The Company, its mainframe products and services dominated business computing, its management methods were exemplary. (In the mid-seventies I was given a copy of the all-encompassing Manager’s Guide and was in awe with the depth and scope of the work.) Then, the PC happened, a product category IBM initially seized, only to lose it by letting clones powered by Microsoft software flood the market and kill its margins.\nA decade later when the Internet and networked servers changed the game, IBM wasn’t ready and almost went bust, only to be saved by Lou Gerstner…at least for a while. Unfortunately, Gerstner’s successors were unable to harness the relentless growth of Cloud Computing, and now the company has fractured. The current CEO, Arvind Krishna, recently decided to split IBM into“Two Market-Leading Companies with Focused Strategies”. The larger entity keeps the IBM name, the smaller as yet unnamed company rids IBM of a low-margin, low hope, ferociously competitive IT infrastructure business.\nMicrosoft offers an interesting counterexample of success after it made an historic, expensive miss. Late to the smartphone game, the company gave Nokia special licensing terms for its Windows Phone OS, only to see the partnership flounder. Despairing, Microsoft bought Nokia for $7.2B in 2013 and took a $7.6B writeoff two years later, followed by another $900M the following year. The clean-up job was left to Satya Nadella who took the reins from Steve Ballmer in 2014. Since then, Microsoft has prospered as the company has focused on software and Cloud services for organizations. As a part of that refocus the Microsoft stores, modeled after the Apple Store, have been shuttered.\nWhile these failure stories hold some lessons for Apple, some of them are actually reassuring.\nFor example, it takes more than one substantial mistake for a large company to begin its decline. The Apple Maps debut and “Antennagate”, as examples, were embarrassing but didn’t do any lasting harm. To be sure, two mediocre iPhone vintages in succession would have a deleterious effect on image and finances, but even that could be survived, especially in today’s quasi-saturated market. And as the Microsoft example shows us, seriously missing an industry wave (smartphones) can be overcome by jumping on a new one (the Cloud aided by the Windows/Office flywheel). This may shed light on Apple’s efforts to give more momentum to the Services business, a flywheel in its own right.\nApple’s iCloud is a different story. True, “cloud” is a very broad term and many of the company’s cloud services are so taken-for-granted as to be almost invisible. For example, iPhone photos live in the petabytes or exabytes of cloud storage that propagates nicely to users’ devices. The same is true for Music and more.\nWhile iCloud as a product has come a long way since the 2008 MobileMe, the Exchange For The Rest Of Us that embarrassed Steve Jobs, it’s often sluggish and buggy (even now as I attempt to use Pages “as we speak”). It lacks the power and polish that Google and Dropbox have to offer. That said, one shouldn’t expect Apple to offer iCloud services in the way that Amazon Web Services, Google Cloud, and Microsoft Azure do. In fact, Apple in part depends on AWS and others for its own infrastructure — a contentious internal topic.\nApple’s record with Artificial Intelligence (another broad domain) is surely a sore point in the Board Room. Although the company was “there” first with Siri, the company watched as Google and Amazon surpassed them to become the leaders in Intelligent Assistant applications. In everyday life, one can see modest progress in Siri’s usefulness and pervasiveness, and we can hope Senior VP of Machine Learning and AI Strategy John Giannandrea, a Google alumnus with a distinguished résumé who joined Apple in 2018, will set things right.\nApple’s strengths are not to be discounted when considering failure modes. Its hardware, software, and supply chain management is unrivaled. But let’s focus on a less lauded advantage, the power of its organizational structure.\nTo simplify, there are no divisions at Apple, no iPhone, Mac, or AirPod “subcompany”. Instead, there are functions as sketched by the Apple Leadership chart (helpful job details are accessed when clicking on the names):\n\nWhen Apple develops a new product — I’ll avoid titillating possibilities — work is organized aroundprojects. A project group is formed by drawing on functions such as Software Engineering, Operations, Hardware Technologies, and so on. Some team members, for activities such as Product Design or Operations, may work on more than one project. The group exists as long as the project exists and is disbanded if the product is canceled or put on the shelf.\nOne of the things that beset HP was its divisional structure with the unavoidable rivalries, territorial disputes, and fights over resources. Customers, of course, don’t care about divisons, they care about products. Apple’s robust, flexible,functionalorganization helps everyone focus on products and customers.\nIt’s an extremely valuable Steve Jobs legacy.\nDoes this mean Apple is immune to large scale failure, that it won’t someday take the path HP or IBM did?\nNo.\nIn a quest for the next engine of growth, Apple could take big risks such as trying to enter the auto industry, either in a frontal assault against Tesla, Toyota, and “Deutsche AG” (German car makers), or in more original forms of individual mobility. Or it could be tempted by the humongous amounts of money spent on healthcare.\nAnd no matter how powerful its organizational structure is, Apple, like every company, is susceptible to personal mediocrity: Insecure B-grade managers hire C-grade players who won’t challenge their authority or their “expertise”, and products suffer as a result. We know the old organization joke: When upper layer people look down, they see brains; when brains in the lower layers look up, they see #$$holes. For an organization, the beginning of the end comes when the brains realize the upper layers are colonized by incompetents and get into Why Bother Mode. I don’t know enough about the company’s hiring and firing practices but, in my nervous mind, this is the biggest risk to Apple. From a distance, it’s impossible to know how hard Apple works to avoid a form of degenerative failure.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351693006,"gmtCreate":1616591826905,"gmtModify":1634525049078,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/351693006","repostId":"1163829159","repostType":4,"isVote":1,"tweetType":1,"viewCount":2958,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353175847,"gmtCreate":1616475186289,"gmtModify":1634525624327,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/353175847","repostId":"2121094501","repostType":4,"isVote":1,"tweetType":1,"viewCount":2229,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359881873,"gmtCreate":1616381928492,"gmtModify":1634526145793,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Apple and tesla do be tanking","listText":"Apple and tesla do be tanking","text":"Apple and tesla do be tanking","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/359881873","repostId":"2120415143","repostType":4,"isVote":1,"tweetType":1,"viewCount":2466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350290159,"gmtCreate":1616207708571,"gmtModify":1634526728471,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Like my comment","listText":"Like my comment","text":"Like my comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350290159","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohunote.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324450538,"gmtCreate":1616026822324,"gmtModify":1703496493984,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324450538","repostId":"1119964353","repostType":4,"repost":{"id":"1119964353","kind":"news","pubTimestamp":1615995058,"share":"https://www.laohunote.com/m/news/1119964353?lang=zh_CN&edition=full","pubTime":"2021-03-17 23:30","market":"us","language":"en","title":"Apple Spent $2.8B Raised From Green Bond Issue For Clean Energy Projects<blockquote>苹果将绿色债券发行筹集的 2.8B 美元用于清洁能源项目</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119964353","media":"Benzinga","summary":"Technology giant Apple Inc.AAPL 2.27%prefers to be known for not only its product and service offeri","content":"<p><div> Technology giant Apple Inc.AAPL 2.27%prefers to be known for not only its product and service offerings, but also for its commitment to the environment and society.What Happened: Apple has allocated ...</p><p><blockquote><div>科技巨头苹果公司 AAPL 2.27% 不仅希望以其产品和服务而闻名，还希望以其对环境和社会的承诺而闻名。发生了什么：苹果已经分配了……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/03/20212240/apple-spent-2-8b-raised-from-green-bond-issue-for-clean-energy-projects\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/03/20212240/apple-spent-2-8b-raised-from-green-bond-issue-for-clean-energy-projects\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Spent $2.8B Raised From Green Bond Issue For Clean Energy Projects<blockquote>苹果将绿色债券发行筹集的 2.8B 美元用于清洁能源项目</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Spent $2.8B Raised From Green Bond Issue For Clean Energy Projects<blockquote>苹果将绿色债券发行筹集的 2.8B 美元用于清洁能源项目</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-03-17 23:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Technology giant Apple Inc.AAPL 2.27%prefers to be known for not only its product and service offerings, but also for its commitment to the environment and society.What Happened: Apple has allocated ...</p><p><blockquote><div>科技巨头苹果公司 AAPL 2.27% 不仅希望以其产品和服务而闻名，还希望以其对环境和社会的承诺而闻名。发生了什么：苹果已经分配了……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/03/20212240/apple-spent-2-8b-raised-from-green-bond-issue-for-clean-energy-projects\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/03/20212240/apple-spent-2-8b-raised-from-green-bond-issue-for-clean-energy-projects\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/03/20212240/apple-spent-2-8b-raised-from-green-bond-issue-for-clean-energy-projects\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.benzinga.com/news/21/03/20212240/apple-spent-2-8b-raised-from-green-bond-issue-for-clean-energy-projects","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119964353","content_text":"Technology giant Apple Inc.AAPL 2.27%prefers to be known for not only its product and service offerings, but also for its commitment to the environment and society.What Happened: Apple has allocated about $2.8 billion raised from its previous issuances of Green Bonds into projects addressing carbon emissions, the company said in a statement Wednesday.The investments have been in new projects supporting low carbon design and engineering, energy efficiency, renewable energy, carbon mitigation and carbon sequestration.Since the Paris climate change accord of 2015, the company has issued three Green Bonds, raising a cumulative $4.7 billion in proceeds.In 2020 alone, the company funded 17 projects that will eliminate 921,000 metric tons of carbon emissions annually and generate 1.2 gigawatts of renewable energy globally.\"Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work,\" said Lisa Jackson, Apple's vice president of environment, policy, and social initiatives.Why It's Important: Corporate social responsibility, or in other words private businesses imposing self-regulation to contribute to societal goals, has assumed importance as a means of payback to society.Apple is already carbon neutral for its corporate operations. In July 2020, the company announced plans to become carbon neutral across its entire business, manufacturing supply chain and product life cycle by 2030. It is expected that every Apple device sold will have a net-zero climate impact by 2030.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":616,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324997970,"gmtCreate":1615949324690,"gmtModify":1703495419069,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324997970","repostId":"1166786110","repostType":4,"isVote":1,"tweetType":1,"viewCount":866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324995293,"gmtCreate":1615949233812,"gmtModify":1703495416817,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/324995293","repostId":"2119197149","repostType":4,"isVote":1,"tweetType":1,"viewCount":825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":351693006,"gmtCreate":1616591826905,"gmtModify":1634525049078,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/351693006","repostId":"1163829159","repostType":4,"repost":{"id":"1163829159","kind":"news","pubTimestamp":1616591036,"share":"https://www.laohunote.com/m/news/1163829159?lang=zh_CN&edition=full","pubTime":"2021-03-24 21:03","market":"us","language":"en","title":"Here's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在 2021 年再次大放异彩</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163829159","media":"Motley Fool ","summary":"Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reop","content":"<p>Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.</p><p><blockquote>消费者支出正在正常化，肉类替代品领导者可能会从经济重新开放中获益匪浅。</blockquote></p><p> Since its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer&nbsp;<b>Beyond Meat</b>&nbsp;(NASDAQ:BYND)&nbsp;has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.</p><p><blockquote>自 2019 年 IPO 后史诗般的上涨以来，这家植物蛋白先驱的股票<b>Beyond Meat</b>（纳斯达克股票代码：BYND）一直陷入横盘整理。该公司受到了大量新竞争、流行病以及源源不断的看跌评级的打击，这些看跌评级抨击了该公司飙升的估值。尽管如此，该公司还是设法（有时只是勉强）保持增长模式。</blockquote></p><p> As 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.</p><p><blockquote>随着 2021 年的到来，这种下一代食品库存的长期沉睡可能会逆转方向。原因如下。</blockquote></p><p> <b>This is one way for a stock to crash</b></p><p><blockquote><b>这是股票崩盘的一种方式</b></blockquote></p><p> After the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a&nbsp;market cap&nbsp;just shy of $9 billion.</p><p><blockquote>在首次公开募股后的几个月里，Beyond Meat的股价经历了过山车般的波动。它已经下跌，它曾多次尝试走高，但最终它又回到了近两年前开始的同一个位置：市值略低于 90 亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/855358a1d48d9d00410554baeff7ab31\" tg-width=\"2000\" tg-height=\"1333\"><span>IS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>是牛肉饼，还是植物性的？现在很难分辨了。图片来源：盖蒂图片社。</span></p></blockquote></p><p> This kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the&nbsp;<b>S&amp;P 500</b>&nbsp;is up 33%.</p><p><blockquote>这种不稳定的横盘走势是股票“崩盘”的一种方式。自 2019 年夏天非理性繁荣消退以来，Beyond Meat股票的回报率基本上为 0%。同时，<b>标普500</b>上涨了33%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11cfc35183cbcaac25c7c4b8e835253\" tg-width=\"720\" tg-height=\"435\"><span>DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS提供的数据。</span></p></blockquote></p><p> As previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.</p><p><blockquote>不过，如前所述，Beyond Meat本身的业务一直在继续增长。即使在2020年，它也经受住了新冠肺炎风暴，并能够保持一些积极的牵引力，扰乱了庞大的动物蛋白质产业。由于消费者在疫情期间选择在家吃饭，餐饮服务销售（即对餐馆的销售）受到了相当大的打击，但通过杂货店分销商进行的零售销售却弥补了这一不足。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/193132417a321a9d268f89a8d55326ef\" tg-width=\"1149\" tg-height=\"420\"><span>DATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：BEYOND MEAT。YOY=同比。</span></p></blockquote></p><p> Granted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted&nbsp;EBITDA&nbsp;was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.</p><p><blockquote>诚然，这并不意味着Beyond Meat的股票正在以某种便宜货进行交易。过去 12 个月的销售额是过去 22 倍，但尚未报告太多有意义的利润（2020 年调整后 EBITDA 仅为 1180 万美元，总收入为 4.07 亿美元），可以说Beyond Meat预计将在 2021 年恢复快速扩张，甚至更远。</blockquote></p><p> Powerful brand recognition in an otherwise commoditized marketplace</p><p><blockquote>在商品化的市场中强大的品牌认知度</blockquote></p><p> I think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.</p><p><blockquote>我认为股东所期望的隐含增长很有可能会实现。随着经济重新开放，消费者将开始重返餐馆。餐馆本身也将开始使供应链正常化。选择更少的简化菜单——一种削减开支的尝试——对Beyond Meat的伤害不亚于顾客客流量的减少。</blockquote></p><p> But this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like&nbsp;<b>Nestle</b>&nbsp;and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job&nbsp;holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.</p><p><blockquote>但这不仅仅是经济重新开放的赌注。Beyond Meat及其同行不可能食品公司的使命是减少动物蛋白的消耗，并促进更经济友好的做法。这条信息继续赢得粉丝的青睐。食品供应商中的一些快速追随者也从中受益（如<b>偎依</b>及其Sweet Earth子公司）。但随着竞争加剧和植物蛋白产品价格下降，Beyond Meat在保持一定利润率方面做得相当不错。随着时间的推移，增加零售和餐饮服务分销将有助于这一事业，因为它已经建立了制造能力。鉴于植物蛋白运动背后的多种动力，Beyond Meat看起来越来越不像一种时尚（有人要硬苏打水吗？）更像是一种潜在的长期趋势。</blockquote></p><p> Here's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think&nbsp;<b>Coca-Cola</b>&nbsp;products with fiercely loyal fans of its drinks,<b>PepsiCo</b>&nbsp;and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently&nbsp;inking new deals&nbsp;with&nbsp;two of world's largest chains,<b>McDonald's</b>&nbsp;and&nbsp;<b>Yum! Brands</b>.</p><p><blockquote>这是另一个恰当的例子：餐馆很少在营销活动中说出他们的供应商。但也有例外。思考<b>可口可乐</b>拥有其饮料忠实粉丝的产品，<b>百事可乐</b>及其饮料和休闲食品，或“认证安格斯牛肉”商标。为了激起食客的兴趣，如果一家餐馆有品牌影响力，它可能会点名一家主要的食品供应商。现在还处于游戏的早期，但Beyond Meat正在展示这种消费者意识和品牌忠诚度。你上一次看到快餐公司兜售甜地球汉堡馅饼是什么时候？相比之下，Beyond Meat经常被提及。它继续在餐饮业内部建立关系——最近与世界上最大的两家连锁店签署了新协议，<b>麦当劳</b>和<b>好吃!品牌</b>.</blockquote></p><p></p><p> I'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.</p><p><blockquote>我并不是说随着经济（和消费者支出）开始正常化，出去买入Beyond Meat股票。很大程度上取决于这家植物性食品公司恢复快速增长，而由于疫情的影响仍在持续，这些努力可能会脱轨。然而，如果它确实重新获得两位数的百分比扩张，2021 年可能是Beyond Meat股票再次大放异彩的一年。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在 2021 年再次大放异彩</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在 2021 年再次大放异彩</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool </strong><span class=\"h-time small\">2021-03-24 21:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.</p><p><blockquote>消费者支出正在正常化，肉类替代品领导者可能会从经济重新开放中获益匪浅。</blockquote></p><p> Since its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer&nbsp;<b>Beyond Meat</b>&nbsp;(NASDAQ:BYND)&nbsp;has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.</p><p><blockquote>自 2019 年 IPO 后史诗般的上涨以来，这家植物蛋白先驱的股票<b>Beyond Meat</b>（纳斯达克股票代码：BYND）一直陷入横盘整理。该公司受到了大量新竞争、流行病以及源源不断的看跌评级的打击，这些看跌评级抨击了该公司飙升的估值。尽管如此，该公司还是设法（有时只是勉强）保持增长模式。</blockquote></p><p> As 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.</p><p><blockquote>随着 2021 年的到来，这种下一代食品库存的长期沉睡可能会逆转方向。原因如下。</blockquote></p><p> <b>This is one way for a stock to crash</b></p><p><blockquote><b>这是股票崩盘的一种方式</b></blockquote></p><p> After the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a&nbsp;market cap&nbsp;just shy of $9 billion.</p><p><blockquote>在首次公开募股后的几个月里，Beyond Meat的股价经历了过山车般的波动。它已经下跌，它曾多次尝试走高，但最终它又回到了近两年前开始的同一个位置：市值略低于 90 亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/855358a1d48d9d00410554baeff7ab31\" tg-width=\"2000\" tg-height=\"1333\"><span>IS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>是牛肉饼，还是植物性的？现在很难分辨了。图片来源：盖蒂图片社。</span></p></blockquote></p><p> This kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the&nbsp;<b>S&amp;P 500</b>&nbsp;is up 33%.</p><p><blockquote>这种不稳定的横盘走势是股票“崩盘”的一种方式。自 2019 年夏天非理性繁荣消退以来，Beyond Meat股票的回报率基本上为 0%。同时，<b>标普500</b>上涨了33%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11cfc35183cbcaac25c7c4b8e835253\" tg-width=\"720\" tg-height=\"435\"><span>DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS提供的数据。</span></p></blockquote></p><p> As previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.</p><p><blockquote>不过，如前所述，Beyond Meat本身的业务一直在继续增长。即使在2020年，它也经受住了新冠肺炎风暴，并能够保持一些积极的牵引力，扰乱了庞大的动物蛋白质产业。由于消费者在疫情期间选择在家吃饭，餐饮服务销售（即对餐馆的销售）受到了相当大的打击，但通过杂货店分销商进行的零售销售却弥补了这一不足。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/193132417a321a9d268f89a8d55326ef\" tg-width=\"1149\" tg-height=\"420\"><span>DATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：BEYOND MEAT。YOY=同比。</span></p></blockquote></p><p> Granted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted&nbsp;EBITDA&nbsp;was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.</p><p><blockquote>诚然，这并不意味着Beyond Meat的股票正在以某种便宜货进行交易。过去 12 个月的销售额是过去 22 倍，但尚未报告太多有意义的利润（2020 年调整后 EBITDA 仅为 1180 万美元，总收入为 4.07 亿美元），可以说Beyond Meat预计将在 2021 年恢复快速扩张，甚至更远。</blockquote></p><p> Powerful brand recognition in an otherwise commoditized marketplace</p><p><blockquote>在商品化的市场中强大的品牌认知度</blockquote></p><p> I think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.</p><p><blockquote>我认为股东所期望的隐含增长很有可能会实现。随着经济重新开放，消费者将开始重返餐馆。餐馆本身也将开始使供应链正常化。选择更少的简化菜单——一种削减开支的尝试——对Beyond Meat的伤害不亚于顾客客流量的减少。</blockquote></p><p> But this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like&nbsp;<b>Nestle</b>&nbsp;and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job&nbsp;holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.</p><p><blockquote>但这不仅仅是经济重新开放的赌注。Beyond Meat及其同行不可能食品公司的使命是减少动物蛋白的消耗，并促进更经济友好的做法。这条信息继续赢得粉丝的青睐。食品供应商中的一些快速追随者也从中受益（如<b>偎依</b>及其Sweet Earth子公司）。但随着竞争加剧和植物蛋白产品价格下降，Beyond Meat在保持一定利润率方面做得相当不错。随着时间的推移，增加零售和餐饮服务分销将有助于这一事业，因为它已经建立了制造能力。鉴于植物蛋白运动背后的多种动力，Beyond Meat看起来越来越不像一种时尚（有人要硬苏打水吗？）更像是一种潜在的长期趋势。</blockquote></p><p> Here's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think&nbsp;<b>Coca-Cola</b>&nbsp;products with fiercely loyal fans of its drinks,<b>PepsiCo</b>&nbsp;and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently&nbsp;inking new deals&nbsp;with&nbsp;two of world's largest chains,<b>McDonald's</b>&nbsp;and&nbsp;<b>Yum! Brands</b>.</p><p><blockquote>这是另一个恰当的例子：餐馆很少在营销活动中说出他们的供应商。但也有例外。思考<b>可口可乐</b>拥有其饮料忠实粉丝的产品，<b>百事可乐</b>及其饮料和休闲食品，或“认证安格斯牛肉”商标。为了激起食客的兴趣，如果一家餐馆有品牌影响力，它可能会点名一家主要的食品供应商。现在还处于游戏的早期，但Beyond Meat正在展示这种消费者意识和品牌忠诚度。你上一次看到快餐公司兜售甜地球汉堡馅饼是什么时候？相比之下，Beyond Meat经常被提及。它继续在餐饮业内部建立关系——最近与世界上最大的两家连锁店签署了新协议，<b>麦当劳</b>和<b>好吃!品牌</b>.</blockquote></p><p></p><p> I'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.</p><p><blockquote>我并不是说随着经济（和消费者支出）开始正常化，出去买入Beyond Meat股票。很大程度上取决于这家植物性食品公司恢复快速增长，而由于疫情的影响仍在持续，这些努力可能会脱轨。然而，如果它确实重新获得两位数的百分比扩张，2021 年可能是Beyond Meat股票再次大放异彩的一年。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/24/why-beyond-meat-stock-could-shine-again-in-2021/\">Motley Fool </a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.fool.com/investing/2021/03/24/why-beyond-meat-stock-could-shine-again-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163829159","content_text":"Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.\nSince its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer Beyond Meat (NASDAQ:BYND) has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.\nAs 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.\nThis is one way for a stock to crash\nAfter the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a market cap just shy of $9 billion.\nIS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.\nThis kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the S&P 500 is up 33%.\nDATA BY YCHARTS.\nAs previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.\nDATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.\nGranted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted EBITDA was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.\nPowerful brand recognition in an otherwise commoditized marketplace\nI think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.\nBut this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like Nestle and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.\nHere's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think Coca-Cola products with fiercely loyal fans of its drinks,PepsiCo and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently inking new deals with two of world's largest chains,McDonald's and Yum! Brands.\nI'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":2958,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352768114,"gmtCreate":1617005876438,"gmtModify":1634523185996,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/352768114","repostId":"1131499409","repostType":4,"isVote":1,"tweetType":1,"viewCount":2159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356998670,"gmtCreate":1616747284490,"gmtModify":1634524228214,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Tesla to the moon","listText":"Tesla to the moon","text":"Tesla to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/356998670","repostId":"1147585149","repostType":4,"isVote":1,"tweetType":1,"viewCount":2468,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359881873,"gmtCreate":1616381928492,"gmtModify":1634526145793,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Apple and tesla do be tanking","listText":"Apple and tesla do be tanking","text":"Apple and tesla do be tanking","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/359881873","repostId":"2120415143","repostType":4,"isVote":1,"tweetType":1,"viewCount":2466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370603181,"gmtCreate":1618578468943,"gmtModify":1634291973399,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Stonks","listText":"Stonks","text":"Stonks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/370603181","repostId":"1180499171","repostType":4,"isVote":1,"tweetType":1,"viewCount":2504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352119107,"gmtCreate":1616905006109,"gmtModify":1634523581681,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/352119107","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","kind":"news","pubTimestamp":1616772179,"share":"https://www.laohunote.com/m/news/1111192234?lang=zh_CN&edition=full","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度还有几天就结束了。这意味着汽车制造商将提供更多交付数据。对于投资者来说，这些数字将比平时更高。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等高估值、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车 (GM) 和福特汽车 (F) 最近都意外停工，并称芯片问题是 2021 年数十亿美元的利润阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给予特斯拉或任何其他快速增长的电动汽车制造商通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不乐观。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>蔚来（蔚来）股价在周五交易中下跌超过 6%，此前这家电动汽车制造商将第一季度交付量指引从约 20,250 辆下调至约 19,500 辆。蔚来管理层以芯片短缺为由，将从 3 月 29 日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉来说，华尔街正在寻找 3 月份交付的约 162,000 辆汽车。这低于最高估计的约 18.3 万辆汽车。分析师似乎正在减少数字，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约 181,000 辆汽车。对于 2021 年全年，分析师预计将交付近 80 万辆汽车，同比增长约 60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>加拿大皇家银行分析师乔·斯帕克 (Joe Spak) 预测第一季度交付量为 170,000 辆，同比增长 90% 以上。他还预测，特斯拉本季度将在加州生产 96,000 辆汽车，在华生产 74,000 辆汽车。“Spak在周四的一份报告中写道：”共识[估计]看起来大多是合理的。“我们确实在寻找最新消息，看看半短缺对特斯拉的影响--就像对整个行业的影响一样。”他认为，由于芯片的影响，预测存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak 将特斯拉股票评级为持有，目标股价为 725 美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。增长率上升主要有两种方式。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在未来很长一段时间内产生的。相对而言，当投资者今天可以从现金中获得更高的利率时，这种现金流的价值就会降低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在 2020 年上涨超过 740% 后，今年迄今已下跌约 10%。周五早盘交易中，股价下跌 0.9%，至 634.40 美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 23:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度还有几天就结束了。这意味着汽车制造商将提供更多交付数据。对于投资者来说，这些数字将比平时更高。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等高估值、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车 (GM) 和福特汽车 (F) 最近都意外停工，并称芯片问题是 2021 年数十亿美元的利润阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给予特斯拉或任何其他快速增长的电动汽车制造商通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不乐观。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>蔚来（蔚来）股价在周五交易中下跌超过 6%，此前这家电动汽车制造商将第一季度交付量指引从约 20,250 辆下调至约 19,500 辆。蔚来管理层以芯片短缺为由，将从 3 月 29 日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉来说，华尔街正在寻找 3 月份交付的约 162,000 辆汽车。这低于最高估计的约 18.3 万辆汽车。分析师似乎正在减少数字，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约 181,000 辆汽车。对于 2021 年全年，分析师预计将交付近 80 万辆汽车，同比增长约 60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>加拿大皇家银行分析师乔·斯帕克 (Joe Spak) 预测第一季度交付量为 170,000 辆，同比增长 90% 以上。他还预测，特斯拉本季度将在加州生产 96,000 辆汽车，在华生产 74,000 辆汽车。“Spak在周四的一份报告中写道：”共识[估计]看起来大多是合理的。“我们确实在寻找最新消息，看看半短缺对特斯拉的影响--就像对整个行业的影响一样。”他认为，由于芯片的影响，预测存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak 将特斯拉股票评级为持有，目标股价为 725 美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。增长率上升主要有两种方式。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在未来很长一段时间内产生的。相对而言，当投资者今天可以从现金中获得更高的利率时，这种现金流的价值就会降低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在 2020 年上涨超过 740% 后，今年迄今已下跌约 10%。周五早盘交易中，股价下跌 0.9%，至 634.40 美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354533058,"gmtCreate":1617185695974,"gmtModify":1634522209833,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"We want trump back pls","listText":"We want trump back pls","text":"We want trump back pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/354533058","repostId":"1196818239","repostType":4,"isVote":1,"tweetType":1,"viewCount":2575,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358101886,"gmtCreate":1616669195945,"gmtModify":1634524653946,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Apple stop falling","listText":"Apple stop falling","text":"Apple stop falling","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/358101886","repostId":"1139908626","repostType":4,"repost":{"id":"1139908626","kind":"news","pubTimestamp":1616663752,"share":"https://www.laohunote.com/m/news/1139908626?lang=zh_CN&edition=full","pubTime":"2021-03-25 17:15","market":"us","language":"en","title":"Apple Failure Modes<blockquote>苹果失效模式</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139908626","media":"Medium","summary":"Apple has avoided the types of failures that have beset so many tech giants. From the HP I dearly loved and the IBM we once feared, to Palm, Nokia, Blackberry, and many more…Will Apple eventually follow a similar trajectory and either disappear or recede into the shadows?Or can Tim Cook continue to keep the Steve Jobs Apple 2.0 miracle alive almost a decade after the magician’s passing?The Monday Note has been on an irregular hiatus as I labor on a book chronicling my picaresque half century in ","content":"<p><i>Apple has avoided the types of failures that have beset so many tech giants. From the HP I dearly loved and the IBM we once feared, to Palm, Nokia, Blackberry, and many more… Will Apple eventually follow a similar trajectory and either disappear or recede into the shadows? Or can Tim Cook continue to keep the Steve Jobs Apple 2.0 miracle alive almost a decade after the magician’s passing?</i></p><p><blockquote><i>苹果避免了困扰许多科技巨头的失败类型。从我深爱的惠普和我们曾经害怕的IBM，到Palm、诺基亚、黑莓等等……苹果最终会遵循类似的轨迹，要么消失，要么退入阴影吗？或者，蒂姆-库克能否在乔布斯去世近十年后继续保持乔布斯苹果 2.0 奇迹？</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/028afa8092cf5134580f1cb4b8bd6596\" tg-width=\"1050\" tg-height=\"590\"></p><p><blockquote></blockquote></p><p> The Monday Note has been on an irregular hiatus as I labor on a book chronicling my picaresque half century in the tech world. While I only spent ten of those years inside Apple, gravity exerts its pull and the book sometimes feels centered on the company that allowed me to fulfill two dreams: Coming to the US and leading a product engineering organization.</p><p><blockquote>周一的笔记已经不定期地中断了，因为我正在写一本记录我在科技界流浪汉半个世纪的书。虽然我只在苹果呆了十年，但地心引力发挥了它的吸引力，这本书有时感觉是以那家让我实现两个梦想的公司为中心的：来到美国，领导一个产品工程组织。</blockquote></p><p> Writing about the early days at Apple led me to contemplate how the ambitious but struggling company became today’s $2T enterprise, how it avoided the “failure formulas” we’ve seen in so many grandees of the industry.</p><p><blockquote>写下苹果的早期，我开始思考这家雄心勃勃但苦苦挣扎的公司是如何成为今天价值 2 万亿美元的企业的，它是如何避免我们在业内许多大公司身上看到的 “失败公式”的。</blockquote></p><p> Nokia, Palm, and Blackberry followed a relatively simple failure recipe. When the first generation iPhone was announced, they dismissed the threat, impugning Apple’s ability to play in their arena. Then Android devices arrived, and the giants refused to back down: ’<i>We know what we’re doing,just look at our numbers!</i>’.</p><p><blockquote>诺基亚、Palm和黑莓遵循了一个相对简单的失败秘诀。当第一代 iPhone 发布时，他们驳斥了这一威胁，指责苹果有能力在他们的领域发挥作用。然后Android设备出现了，巨头们拒绝退缩：<i>我们知道我们在做什么，看看我们的数字!</i>’.</blockquote></p><p> My good old HP is a&nbsp;much more complicated story. On the technical side, it allowed its superb desktop computing business to be disrupted by “cheap” 8-bit processors, but the real problems were cultural and political: A revolving door in the CEO suite, a Board of Directors that spied on each other, no coherent corporate strategy leading to catastrophic acquisitions followed by spinoffs…</p><p><blockquote>我的旧惠普是一个复杂得多的故事。在技术方面，该公司允许其卓越的桌面计算业务被 “廉价 ”的 8 位处理器所颠覆，但真正的问题是文化和政治问题：首席执行官办公室里有一扇旋转门，董事会互相监视，缺乏连贯的企业战略，导致灾难性的收购和分拆..</blockquote></p><p> No company has been as powerful and then fallen as far as IBM. Once known as The Company, its mainframe products and services dominated business computing, its management methods were exemplary. (In the mid-seventies I was given a copy of the all-encompassing Manager’s Guide and was in awe with the depth and scope of the work.) Then, the PC happened, a product category IBM initially seized, only to lose it by letting clones powered by Microsoft software flood the market and kill its margins.</p><p><blockquote>没有一家公司像IBM一样强大，然后又衰落。曾经被称为公司，其大型机产品和服务主导了商业计算，其管理方法堪称典范。(七十年代中期，我得到了一本《无所不包的经理指南》，我对这项工作的深度和范围感到敬畏）。后来，IBM 最初抓住了 PC 这个产品类别，但由于让微软软件驱动的克隆产品充斥市场，扼杀了它的利润，失去了它。</blockquote></p><p> A decade later when the Internet and networked servers changed the game, IBM wasn’t ready and almost went bust, only to be saved by Lou Gerstner…at least for a while. Unfortunately, Gerstner’s successors were unable to harness the relentless growth of Cloud Computing, and now the company has fractured. The current CEO, Arvind Krishna, recently decided to split IBM into“Two Market-Leading Companies with Focused Strategies”. The larger entity keeps the IBM name, the smaller as yet unnamed company rids IBM of a low-margin, low hope, ferociously competitive IT infrastructure business.</p><p><blockquote>十年后，当互联网和网络化服务器改变了游戏规则时，IBM 还没有做好准备，几乎破产，但卢-郭士纳（Lou Gerstner）救了他.至少在一段时间内救了他。不幸的是，郭士纳的继任者们未能驾驭云计算的无情增长，现在公司已经分崩离析。现任首席执行官阿尔温德-克里希纳（Arvind Krishna）最近决定将 IBM 拆分为 “两家市场领先、战略专注的公司”。较大的实体保留了IBM的名字，较小但尚未命名的公司剥夺了IBM低利润、低希望、竞争激烈的IT基础设施业务。</blockquote></p><p> Microsoft offers an interesting counterexample of success after it made an historic, expensive miss. Late to the smartphone game, the company gave Nokia special licensing terms for its Windows Phone OS, only to see the partnership flounder. Despairing, Microsoft bought Nokia for $7.2B in 2013 and took a $7.6B writeoff two years later, followed by another $900M the following year. The clean-up job was left to Satya Nadella who took the reins from Steve Ballmer in 2014. Since then, Microsoft has prospered as the company has focused on software and Cloud services for organizations. As a part of that refocus the Microsoft stores, modeled after the Apple Store, have been shuttered.</p><p><blockquote>微软在犯下历史性的、代价高昂的错误后，提供了一个有趣的成功反例。在智能手机游戏后期，该公司为诺基亚的Windows Phone操作系统提供了特殊的许可条款，结果却看到合作伙伴关系陷入困境。绝望的是，微软在2013年以72亿美元收购了诺基亚，两年后注销了76亿美元，第二年又注销了9亿美元。清理工作留给了2014年从史蒂夫·鲍尔默手中接管的萨蒂亚·纳德拉。从那时起，随着该公司专注于为组织提供软件和云服务，微软蓬勃发展。作为重新聚焦的一部分，模仿苹果商店的微软商店已经关闭。</blockquote></p><p> While these failure stories hold some lessons for Apple, some of them are actually reassuring.</p><p><blockquote>虽然这些失败的故事给苹果带来了一些教训，但其中一些实际上令人放心。</blockquote></p><p> For example, it takes more than one substantial mistake for a large company to begin its decline. The Apple Maps debut and “Antennagate”, as examples, were embarrassing but didn’t do any lasting harm. To be sure, two mediocre iPhone vintages in succession would have a deleterious effect on image and finances, but even that could be survived, especially in today’s quasi-saturated market. And as the Microsoft example shows us, seriously missing an industry wave (smartphones) can be overcome by jumping on a new one (the Cloud aided by the Windows/Office flywheel). This may shed light on Apple’s efforts to give more momentum to the Services business, a flywheel in its own right.</p><p><blockquote>例如，一家大公司开始衰落需要不止一个重大错误。苹果地图的处女作和《天线之门》就是例子，虽然令人尴尬，但并没有造成任何持久的伤害。可以肯定的是，连续两款平庸的 iPhone 会对形象和财务产生有害影响，但即便如此，也有可能生存下来，尤其是在当今准饱和的市场中。正如微软的例子向我们展示的那样，严重错过一个行业浪潮（智能手机）可以通过跳上一个新的浪潮（Windows/Office飞轮辅助的云）来克服。这可能会揭示苹果为推动服务业发展所做的努力，而服务业本身就是一个飞轮。</blockquote></p><p> Apple’s iCloud is a different story. True, “cloud” is a very broad term and many of the company’s cloud services are so taken-for-granted as to be almost invisible. For example, iPhone photos live in the petabytes or exabytes of cloud storage that propagates nicely to users’ devices. The same is true for Music and more.</p><p><blockquote>苹果的 iCloud 则是另一回事。诚然，“云 ”是一个非常宽泛的术语，该公司的许多云服务都是理所当然的，几乎看不见。例如，iPhone 照片存储在 PB 或 EB 的云存储中，可以很好地传播到用户的设备上。音乐等也是如此。</blockquote></p><p></p><p> While iCloud as a product has come a long way since the 2008 MobileMe, the&nbsp;Exchange For The Rest Of Us&nbsp;that&nbsp;embarrassed Steve Jobs, it’s often sluggish and buggy (even now as I attempt to use Pages “as we speak”). It lacks the power and polish that Google and Dropbox have to offer. That said, one shouldn’t expect Apple to offer iCloud services in the way that Amazon Web Services, Google Cloud, and Microsoft Azure do. In fact, Apple in part&nbsp;depends on AWS&nbsp;and others for its own infrastructure — a contentious internal topic.</p><p><blockquote>虽然 iCloud 作为一款产品，自 2008 年 MobileMe（让史蒂夫-乔布斯（Steve Jobs）感到尴尬的交换）以来已经取得了长足的进步，但它往往表现缓慢且存在缺陷（即使是现在，当我尝试 “说话时 ”使用页面时）。它缺乏谷歌和Dropbox所提供的力量和润色。尽管如此，我们不应该指望苹果会像亚马逊网络服务、谷歌云和微软 Azure 那样提供 iCloud 服务。事实上，苹果自己的基础设施部分依赖 AWS 和其他公司——这是一个有争议的内部话题。</blockquote></p><p> Apple’s record with Artificial Intelligence (another broad domain) is surely a sore point in the Board Room. Although the company was “there” first with Siri, the company watched as Google and Amazon surpassed them to become the leaders in Intelligent Assistant applications. In everyday life, one can see modest progress in Siri’s usefulness and pervasiveness, and we can hope Senior VP of Machine Learning and AI Strategy&nbsp;John Giannandrea, a Google alumnus with a distinguished résumé who joined Apple in 2018, will set things right.</p><p><blockquote>苹果在人工智能（另一个广泛领域）方面的记录无疑是董事会的一个痛点。虽然该公司率先推出了 Siri，但该公司眼睁睁地看着谷歌和亚马逊超越它们，成为智能助理应用的领导者。在日常生活中，我们可以看到 Siri 的实用性和普及性取得了适度的进步，我们可以希望机器学习和人工智能战略高级副总裁 John Giannandrea 能够纠正错误。</blockquote></p><p> Apple’s strengths are not to be discounted when considering failure modes. Its hardware, software, and supply chain management is unrivaled. But let’s focus on a less lauded advantage, the power of its organizational structure.</p><p><blockquote>在考虑故障模式时，苹果的优势不容小觑。其硬件、软件和供应链管理是无与伦比的。但让我们把重点放在一个不太被称赞的优势上，那就是其组织结构的力量。</blockquote></p><p> To simplify, there are no&nbsp;<i>divisions</i>&nbsp;at Apple, no iPhone, Mac, or AirPod “subcompany”. Instead, there are&nbsp;<i>functions</i>&nbsp;as sketched by the&nbsp;Apple Leadership&nbsp;chart (helpful job details are accessed when clicking on the names):</p><p><blockquote>简单来说，没有<i>司</i>在苹果，没有 iPhone、Mac 或 AirPod 的“子公司”。相反，有<i>功能</i>如苹果领导力图表所示（点击名称可访问有用的职位详细信息）：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b887dfe02642de363c4b17cc7f5e4f47\" tg-width=\"1050\" tg-height=\"1806\"></p><p><blockquote></blockquote></p><p> When Apple develops a new product — I’ll avoid titillating possibilities — work is organized around<i>projects</i>. A project group is formed by drawing on functions such as Software Engineering, Operations, Hardware Technologies, and so on. Some team members, for activities such as Product Design or Operations, may work on more than one project. The group exists as long as the project exists and is disbanded if the product is canceled or put on the shelf.</p><p><blockquote>当苹果开发新产品时--我将避免诱人的可能性--工作是围绕<i>项目</i>.项目组是借鉴软件工程、运营、硬件技术等职能组成的。对于产品设计或运营等活动，一些团队成员可能从事多个项目。只要项目存在，该集团就存在，如果产品被取消或上架，该集团就会解散。</blockquote></p><p> One of the things that beset HP was its divisional structure with the unavoidable rivalries, territorial disputes, and fights over resources. Customers, of course, don’t care about divisons, they care about products. Apple’s robust, flexible,<i>functional</i>organization helps everyone focus on products and customers.</p><p><blockquote>困扰惠普的事情之一是其部门结构，不可避免的竞争、领土争端和资源争夺。当然，客户并不关心部门，他们关心的是产品。苹果坚固、灵活、<i>功能性的</i>组织帮助每个人专注于产品和客户。</blockquote></p><p> It’s an extremely valuable Steve Jobs legacy.</p><p><blockquote>这是史蒂夫-乔布斯极其宝贵的遗产。</blockquote></p><p> Does this mean Apple is immune to large scale failure, that it won’t someday take the path HP or IBM did?</p><p><blockquote>这是否意味着苹果不会受到大规模失败的影响，有一天它不会重蹈惠普或 IBM 的覆辙？</blockquote></p><p> No.</p><p><blockquote>没有。</blockquote></p><p> In a quest for the next engine of growth, Apple could take big risks such as trying to enter the auto industry, either in a frontal assault against Tesla, Toyota, and “Deutsche AG” (German car makers), or in more original forms of individual mobility. Or it could be tempted by the humongous amounts of money spent on healthcare.</p><p><blockquote>在寻找下一个增长引擎的过程中，苹果可能会冒很大的风险，比如试图进入汽车行业，要么正面攻击特斯拉、丰田和 “德意志股份公司 ”（德国汽车制造商），要么以更新颖的个人出行方式进军汽车行业。或者它可能会被花在医疗保健上的巨额资金所诱惑。</blockquote></p><p> And no matter how powerful its organizational structure is, Apple, like every company, is susceptible to personal mediocrity: Insecure B-grade managers hire C-grade players who won’t challenge their authority or their “expertise”, and products suffer as a result. We know the old organization joke: When upper layer people look down, they see brains; when brains in the lower layers look up, they see #$$holes. For an organization, the beginning of the end comes when the brains realize the upper layers are colonized by incompetents and get into Why Bother Mode. I don’t know enough about the company’s hiring and firing practices but, in my nervous mind, this is the biggest risk to Apple. From a distance, it’s impossible to know how hard Apple works to avoid a form of degenerative failure.</p><p><blockquote>无论组织结构多么强大，苹果和所有公司一样，都容易受到个人平庸的影响：缺乏安全感的 B 级经理会雇佣 C 级球员，而这些球员不会挑战他们的权威或 “专业知识 ”，产品也会因此受到影响。我们知道老组织笑话：当上层的人往下看时，他们看到的是大脑；当较低层的大脑抬头时，他们看到#$$洞。对于一个组织来说，当大脑意识到上层被无能的人殖民，并进入何必麻烦模式时，末日的开始就来了。我对公司的招聘和解雇做法了解不够，但在我紧张的头脑中，这是苹果面临的最大风险。从远处看，我们无法知道苹果是如何努力避免某种形式的退化失败的。</blockquote></p><p></p>","source":"lsy1616663746307","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Failure Modes<blockquote>苹果失效模式</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Failure Modes<blockquote>苹果失效模式</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Medium</strong><span class=\"h-time small\">2021-03-25 17:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>Apple has avoided the types of failures that have beset so many tech giants. From the HP I dearly loved and the IBM we once feared, to Palm, Nokia, Blackberry, and many more… Will Apple eventually follow a similar trajectory and either disappear or recede into the shadows? Or can Tim Cook continue to keep the Steve Jobs Apple 2.0 miracle alive almost a decade after the magician’s passing?</i></p><p><blockquote><i>苹果避免了困扰许多科技巨头的失败类型。从我深爱的惠普和我们曾经害怕的IBM，到Palm、诺基亚、黑莓等等……苹果最终会遵循类似的轨迹，要么消失，要么退入阴影吗？或者，蒂姆-库克能否在乔布斯去世近十年后继续保持乔布斯苹果 2.0 奇迹？</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/028afa8092cf5134580f1cb4b8bd6596\" tg-width=\"1050\" tg-height=\"590\"></p><p><blockquote></blockquote></p><p> The Monday Note has been on an irregular hiatus as I labor on a book chronicling my picaresque half century in the tech world. While I only spent ten of those years inside Apple, gravity exerts its pull and the book sometimes feels centered on the company that allowed me to fulfill two dreams: Coming to the US and leading a product engineering organization.</p><p><blockquote>周一的笔记已经不定期地中断了，因为我正在写一本记录我在科技界流浪汉半个世纪的书。虽然我只在苹果呆了十年，但地心引力发挥了它的吸引力，这本书有时感觉是以那家让我实现两个梦想的公司为中心的：来到美国，领导一个产品工程组织。</blockquote></p><p> Writing about the early days at Apple led me to contemplate how the ambitious but struggling company became today’s $2T enterprise, how it avoided the “failure formulas” we’ve seen in so many grandees of the industry.</p><p><blockquote>写下苹果的早期，我开始思考这家雄心勃勃但苦苦挣扎的公司是如何成为今天价值 2 万亿美元的企业的，它是如何避免我们在业内许多大公司身上看到的 “失败公式”的。</blockquote></p><p> Nokia, Palm, and Blackberry followed a relatively simple failure recipe. When the first generation iPhone was announced, they dismissed the threat, impugning Apple’s ability to play in their arena. Then Android devices arrived, and the giants refused to back down: ’<i>We know what we’re doing,just look at our numbers!</i>’.</p><p><blockquote>诺基亚、Palm和黑莓遵循了一个相对简单的失败秘诀。当第一代 iPhone 发布时，他们驳斥了这一威胁，指责苹果有能力在他们的领域发挥作用。然后Android设备出现了，巨头们拒绝退缩：<i>我们知道我们在做什么，看看我们的数字!</i>’.</blockquote></p><p> My good old HP is a&nbsp;much more complicated story. On the technical side, it allowed its superb desktop computing business to be disrupted by “cheap” 8-bit processors, but the real problems were cultural and political: A revolving door in the CEO suite, a Board of Directors that spied on each other, no coherent corporate strategy leading to catastrophic acquisitions followed by spinoffs…</p><p><blockquote>我的旧惠普是一个复杂得多的故事。在技术方面，该公司允许其卓越的桌面计算业务被 “廉价 ”的 8 位处理器所颠覆，但真正的问题是文化和政治问题：首席执行官办公室里有一扇旋转门，董事会互相监视，缺乏连贯的企业战略，导致灾难性的收购和分拆..</blockquote></p><p> No company has been as powerful and then fallen as far as IBM. Once known as The Company, its mainframe products and services dominated business computing, its management methods were exemplary. (In the mid-seventies I was given a copy of the all-encompassing Manager’s Guide and was in awe with the depth and scope of the work.) Then, the PC happened, a product category IBM initially seized, only to lose it by letting clones powered by Microsoft software flood the market and kill its margins.</p><p><blockquote>没有一家公司像IBM一样强大，然后又衰落。曾经被称为公司，其大型机产品和服务主导了商业计算，其管理方法堪称典范。(七十年代中期，我得到了一本《无所不包的经理指南》，我对这项工作的深度和范围感到敬畏）。后来，IBM 最初抓住了 PC 这个产品类别，但由于让微软软件驱动的克隆产品充斥市场，扼杀了它的利润，失去了它。</blockquote></p><p> A decade later when the Internet and networked servers changed the game, IBM wasn’t ready and almost went bust, only to be saved by Lou Gerstner…at least for a while. Unfortunately, Gerstner’s successors were unable to harness the relentless growth of Cloud Computing, and now the company has fractured. The current CEO, Arvind Krishna, recently decided to split IBM into“Two Market-Leading Companies with Focused Strategies”. The larger entity keeps the IBM name, the smaller as yet unnamed company rids IBM of a low-margin, low hope, ferociously competitive IT infrastructure business.</p><p><blockquote>十年后，当互联网和网络化服务器改变了游戏规则时，IBM 还没有做好准备，几乎破产，但卢-郭士纳（Lou Gerstner）救了他.至少在一段时间内救了他。不幸的是，郭士纳的继任者们未能驾驭云计算的无情增长，现在公司已经分崩离析。现任首席执行官阿尔温德-克里希纳（Arvind Krishna）最近决定将 IBM 拆分为 “两家市场领先、战略专注的公司”。较大的实体保留了IBM的名字，较小但尚未命名的公司剥夺了IBM低利润、低希望、竞争激烈的IT基础设施业务。</blockquote></p><p> Microsoft offers an interesting counterexample of success after it made an historic, expensive miss. Late to the smartphone game, the company gave Nokia special licensing terms for its Windows Phone OS, only to see the partnership flounder. Despairing, Microsoft bought Nokia for $7.2B in 2013 and took a $7.6B writeoff two years later, followed by another $900M the following year. The clean-up job was left to Satya Nadella who took the reins from Steve Ballmer in 2014. Since then, Microsoft has prospered as the company has focused on software and Cloud services for organizations. As a part of that refocus the Microsoft stores, modeled after the Apple Store, have been shuttered.</p><p><blockquote>微软在犯下历史性的、代价高昂的错误后，提供了一个有趣的成功反例。在智能手机游戏后期，该公司为诺基亚的Windows Phone操作系统提供了特殊的许可条款，结果却看到合作伙伴关系陷入困境。绝望的是，微软在2013年以72亿美元收购了诺基亚，两年后注销了76亿美元，第二年又注销了9亿美元。清理工作留给了2014年从史蒂夫·鲍尔默手中接管的萨蒂亚·纳德拉。从那时起，随着该公司专注于为组织提供软件和云服务，微软蓬勃发展。作为重新聚焦的一部分，模仿苹果商店的微软商店已经关闭。</blockquote></p><p> While these failure stories hold some lessons for Apple, some of them are actually reassuring.</p><p><blockquote>虽然这些失败的故事给苹果带来了一些教训，但其中一些实际上令人放心。</blockquote></p><p> For example, it takes more than one substantial mistake for a large company to begin its decline. The Apple Maps debut and “Antennagate”, as examples, were embarrassing but didn’t do any lasting harm. To be sure, two mediocre iPhone vintages in succession would have a deleterious effect on image and finances, but even that could be survived, especially in today’s quasi-saturated market. And as the Microsoft example shows us, seriously missing an industry wave (smartphones) can be overcome by jumping on a new one (the Cloud aided by the Windows/Office flywheel). This may shed light on Apple’s efforts to give more momentum to the Services business, a flywheel in its own right.</p><p><blockquote>例如，一家大公司开始衰落需要不止一个重大错误。苹果地图的处女作和《天线之门》就是例子，虽然令人尴尬，但并没有造成任何持久的伤害。可以肯定的是，连续两款平庸的 iPhone 会对形象和财务产生有害影响，但即便如此，也有可能生存下来，尤其是在当今准饱和的市场中。正如微软的例子向我们展示的那样，严重错过一个行业浪潮（智能手机）可以通过跳上一个新的浪潮（Windows/Office飞轮辅助的云）来克服。这可能会揭示苹果为推动服务业发展所做的努力，而服务业本身就是一个飞轮。</blockquote></p><p> Apple’s iCloud is a different story. True, “cloud” is a very broad term and many of the company’s cloud services are so taken-for-granted as to be almost invisible. For example, iPhone photos live in the petabytes or exabytes of cloud storage that propagates nicely to users’ devices. The same is true for Music and more.</p><p><blockquote>苹果的 iCloud 则是另一回事。诚然，“云 ”是一个非常宽泛的术语，该公司的许多云服务都是理所当然的，几乎看不见。例如，iPhone 照片存储在 PB 或 EB 的云存储中，可以很好地传播到用户的设备上。音乐等也是如此。</blockquote></p><p></p><p> While iCloud as a product has come a long way since the 2008 MobileMe, the&nbsp;Exchange For The Rest Of Us&nbsp;that&nbsp;embarrassed Steve Jobs, it’s often sluggish and buggy (even now as I attempt to use Pages “as we speak”). It lacks the power and polish that Google and Dropbox have to offer. That said, one shouldn’t expect Apple to offer iCloud services in the way that Amazon Web Services, Google Cloud, and Microsoft Azure do. In fact, Apple in part&nbsp;depends on AWS&nbsp;and others for its own infrastructure — a contentious internal topic.</p><p><blockquote>虽然 iCloud 作为一款产品，自 2008 年 MobileMe（让史蒂夫-乔布斯（Steve Jobs）感到尴尬的交换）以来已经取得了长足的进步，但它往往表现缓慢且存在缺陷（即使是现在，当我尝试 “说话时 ”使用页面时）。它缺乏谷歌和Dropbox所提供的力量和润色。尽管如此，我们不应该指望苹果会像亚马逊网络服务、谷歌云和微软 Azure 那样提供 iCloud 服务。事实上，苹果自己的基础设施部分依赖 AWS 和其他公司——这是一个有争议的内部话题。</blockquote></p><p> Apple’s record with Artificial Intelligence (another broad domain) is surely a sore point in the Board Room. Although the company was “there” first with Siri, the company watched as Google and Amazon surpassed them to become the leaders in Intelligent Assistant applications. In everyday life, one can see modest progress in Siri’s usefulness and pervasiveness, and we can hope Senior VP of Machine Learning and AI Strategy&nbsp;John Giannandrea, a Google alumnus with a distinguished résumé who joined Apple in 2018, will set things right.</p><p><blockquote>苹果在人工智能（另一个广泛领域）方面的记录无疑是董事会的一个痛点。虽然该公司率先推出了 Siri，但该公司眼睁睁地看着谷歌和亚马逊超越它们，成为智能助理应用的领导者。在日常生活中，我们可以看到 Siri 的实用性和普及性取得了适度的进步，我们可以希望机器学习和人工智能战略高级副总裁 John Giannandrea 能够纠正错误。</blockquote></p><p> Apple’s strengths are not to be discounted when considering failure modes. Its hardware, software, and supply chain management is unrivaled. But let’s focus on a less lauded advantage, the power of its organizational structure.</p><p><blockquote>在考虑故障模式时，苹果的优势不容小觑。其硬件、软件和供应链管理是无与伦比的。但让我们把重点放在一个不太被称赞的优势上，那就是其组织结构的力量。</blockquote></p><p> To simplify, there are no&nbsp;<i>divisions</i>&nbsp;at Apple, no iPhone, Mac, or AirPod “subcompany”. Instead, there are&nbsp;<i>functions</i>&nbsp;as sketched by the&nbsp;Apple Leadership&nbsp;chart (helpful job details are accessed when clicking on the names):</p><p><blockquote>简单来说，没有<i>司</i>在苹果，没有 iPhone、Mac 或 AirPod 的“子公司”。相反，有<i>功能</i>如苹果领导力图表所示（点击名称可访问有用的职位详细信息）：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b887dfe02642de363c4b17cc7f5e4f47\" tg-width=\"1050\" tg-height=\"1806\"></p><p><blockquote></blockquote></p><p> When Apple develops a new product — I’ll avoid titillating possibilities — work is organized around<i>projects</i>. A project group is formed by drawing on functions such as Software Engineering, Operations, Hardware Technologies, and so on. Some team members, for activities such as Product Design or Operations, may work on more than one project. The group exists as long as the project exists and is disbanded if the product is canceled or put on the shelf.</p><p><blockquote>当苹果开发新产品时--我将避免诱人的可能性--工作是围绕<i>项目</i>.项目组是借鉴软件工程、运营、硬件技术等职能组成的。对于产品设计或运营等活动，一些团队成员可能从事多个项目。只要项目存在，该集团就存在，如果产品被取消或上架，该集团就会解散。</blockquote></p><p> One of the things that beset HP was its divisional structure with the unavoidable rivalries, territorial disputes, and fights over resources. Customers, of course, don’t care about divisons, they care about products. Apple’s robust, flexible,<i>functional</i>organization helps everyone focus on products and customers.</p><p><blockquote>困扰惠普的事情之一是其部门结构，不可避免的竞争、领土争端和资源争夺。当然，客户并不关心部门，他们关心的是产品。苹果坚固、灵活、<i>功能性的</i>组织帮助每个人专注于产品和客户。</blockquote></p><p> It’s an extremely valuable Steve Jobs legacy.</p><p><blockquote>这是史蒂夫-乔布斯极其宝贵的遗产。</blockquote></p><p> Does this mean Apple is immune to large scale failure, that it won’t someday take the path HP or IBM did?</p><p><blockquote>这是否意味着苹果不会受到大规模失败的影响，有一天它不会重蹈惠普或 IBM 的覆辙？</blockquote></p><p> No.</p><p><blockquote>没有。</blockquote></p><p> In a quest for the next engine of growth, Apple could take big risks such as trying to enter the auto industry, either in a frontal assault against Tesla, Toyota, and “Deutsche AG” (German car makers), or in more original forms of individual mobility. Or it could be tempted by the humongous amounts of money spent on healthcare.</p><p><blockquote>在寻找下一个增长引擎的过程中，苹果可能会冒很大的风险，比如试图进入汽车行业，要么正面攻击特斯拉、丰田和 “德意志股份公司 ”（德国汽车制造商），要么以更新颖的个人出行方式进军汽车行业。或者它可能会被花在医疗保健上的巨额资金所诱惑。</blockquote></p><p> And no matter how powerful its organizational structure is, Apple, like every company, is susceptible to personal mediocrity: Insecure B-grade managers hire C-grade players who won’t challenge their authority or their “expertise”, and products suffer as a result. We know the old organization joke: When upper layer people look down, they see brains; when brains in the lower layers look up, they see #$$holes. For an organization, the beginning of the end comes when the brains realize the upper layers are colonized by incompetents and get into Why Bother Mode. I don’t know enough about the company’s hiring and firing practices but, in my nervous mind, this is the biggest risk to Apple. From a distance, it’s impossible to know how hard Apple works to avoid a form of degenerative failure.</p><p><blockquote>无论组织结构多么强大，苹果和所有公司一样，都容易受到个人平庸的影响：缺乏安全感的 B 级经理会雇佣 C 级球员，而这些球员不会挑战他们的权威或 “专业知识 ”，产品也会因此受到影响。我们知道老组织笑话：当上层的人往下看时，他们看到的是大脑；当较低层的大脑抬头时，他们看到#$$洞。对于一个组织来说，当大脑意识到上层被无能的人殖民，并进入何必麻烦模式时，末日的开始就来了。我对公司的招聘和解雇做法了解不够，但在我紧张的头脑中，这是苹果面临的最大风险。从远处看，我们无法知道苹果是如何努力避免某种形式的退化失败的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://mondaynote.com/apple-failure-modes-a5c9e1c9ffb0\">Medium</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://mondaynote.com/apple-failure-modes-a5c9e1c9ffb0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139908626","content_text":"Apple has avoided the types of failures that have beset so many tech giants. From the HP I dearly loved and the IBM we once feared, to Palm, Nokia, Blackberry, and many more… Will Apple eventually follow a similar trajectory and either disappear or recede into the shadows? Or can Tim Cook continue to keep the Steve Jobs Apple 2.0 miracle alive almost a decade after the magician’s passing?\n\nThe Monday Note has been on an irregular hiatus as I labor on a book chronicling my picaresque half century in the tech world. While I only spent ten of those years inside Apple, gravity exerts its pull and the book sometimes feels centered on the company that allowed me to fulfill two dreams: Coming to the US and leading a product engineering organization.\nWriting about the early days at Apple led me to contemplate how the ambitious but struggling company became today’s $2T enterprise, how it avoided the “failure formulas” we’ve seen in so many grandees of the industry.\nNokia, Palm, and Blackberry followed a relatively simple failure recipe. When the first generation iPhone was announced, they dismissed the threat, impugning Apple’s ability to play in their arena. Then Android devices arrived, and the giants refused to back down: ’We know what we’re doing,just look at our numbers!’.\nMy good old HP is a much more complicated story. On the technical side, it allowed its superb desktop computing business to be disrupted by “cheap” 8-bit processors, but the real problems were cultural and political: A revolving door in the CEO suite, a Board of Directors that spied on each other, no coherent corporate strategy leading to catastrophic acquisitions followed by spinoffs…\nNo company has been as powerful and then fallen as far as IBM. Once known as The Company, its mainframe products and services dominated business computing, its management methods were exemplary. (In the mid-seventies I was given a copy of the all-encompassing Manager’s Guide and was in awe with the depth and scope of the work.) Then, the PC happened, a product category IBM initially seized, only to lose it by letting clones powered by Microsoft software flood the market and kill its margins.\nA decade later when the Internet and networked servers changed the game, IBM wasn’t ready and almost went bust, only to be saved by Lou Gerstner…at least for a while. Unfortunately, Gerstner’s successors were unable to harness the relentless growth of Cloud Computing, and now the company has fractured. The current CEO, Arvind Krishna, recently decided to split IBM into“Two Market-Leading Companies with Focused Strategies”. The larger entity keeps the IBM name, the smaller as yet unnamed company rids IBM of a low-margin, low hope, ferociously competitive IT infrastructure business.\nMicrosoft offers an interesting counterexample of success after it made an historic, expensive miss. Late to the smartphone game, the company gave Nokia special licensing terms for its Windows Phone OS, only to see the partnership flounder. Despairing, Microsoft bought Nokia for $7.2B in 2013 and took a $7.6B writeoff two years later, followed by another $900M the following year. The clean-up job was left to Satya Nadella who took the reins from Steve Ballmer in 2014. Since then, Microsoft has prospered as the company has focused on software and Cloud services for organizations. As a part of that refocus the Microsoft stores, modeled after the Apple Store, have been shuttered.\nWhile these failure stories hold some lessons for Apple, some of them are actually reassuring.\nFor example, it takes more than one substantial mistake for a large company to begin its decline. The Apple Maps debut and “Antennagate”, as examples, were embarrassing but didn’t do any lasting harm. To be sure, two mediocre iPhone vintages in succession would have a deleterious effect on image and finances, but even that could be survived, especially in today’s quasi-saturated market. And as the Microsoft example shows us, seriously missing an industry wave (smartphones) can be overcome by jumping on a new one (the Cloud aided by the Windows/Office flywheel). This may shed light on Apple’s efforts to give more momentum to the Services business, a flywheel in its own right.\nApple’s iCloud is a different story. True, “cloud” is a very broad term and many of the company’s cloud services are so taken-for-granted as to be almost invisible. For example, iPhone photos live in the petabytes or exabytes of cloud storage that propagates nicely to users’ devices. The same is true for Music and more.\nWhile iCloud as a product has come a long way since the 2008 MobileMe, the Exchange For The Rest Of Us that embarrassed Steve Jobs, it’s often sluggish and buggy (even now as I attempt to use Pages “as we speak”). It lacks the power and polish that Google and Dropbox have to offer. That said, one shouldn’t expect Apple to offer iCloud services in the way that Amazon Web Services, Google Cloud, and Microsoft Azure do. In fact, Apple in part depends on AWS and others for its own infrastructure — a contentious internal topic.\nApple’s record with Artificial Intelligence (another broad domain) is surely a sore point in the Board Room. Although the company was “there” first with Siri, the company watched as Google and Amazon surpassed them to become the leaders in Intelligent Assistant applications. In everyday life, one can see modest progress in Siri’s usefulness and pervasiveness, and we can hope Senior VP of Machine Learning and AI Strategy John Giannandrea, a Google alumnus with a distinguished résumé who joined Apple in 2018, will set things right.\nApple’s strengths are not to be discounted when considering failure modes. Its hardware, software, and supply chain management is unrivaled. But let’s focus on a less lauded advantage, the power of its organizational structure.\nTo simplify, there are no divisions at Apple, no iPhone, Mac, or AirPod “subcompany”. Instead, there are functions as sketched by the Apple Leadership chart (helpful job details are accessed when clicking on the names):\n\nWhen Apple develops a new product — I’ll avoid titillating possibilities — work is organized aroundprojects. A project group is formed by drawing on functions such as Software Engineering, Operations, Hardware Technologies, and so on. Some team members, for activities such as Product Design or Operations, may work on more than one project. The group exists as long as the project exists and is disbanded if the product is canceled or put on the shelf.\nOne of the things that beset HP was its divisional structure with the unavoidable rivalries, territorial disputes, and fights over resources. Customers, of course, don’t care about divisons, they care about products. Apple’s robust, flexible,functionalorganization helps everyone focus on products and customers.\nIt’s an extremely valuable Steve Jobs legacy.\nDoes this mean Apple is immune to large scale failure, that it won’t someday take the path HP or IBM did?\nNo.\nIn a quest for the next engine of growth, Apple could take big risks such as trying to enter the auto industry, either in a frontal assault against Tesla, Toyota, and “Deutsche AG” (German car makers), or in more original forms of individual mobility. Or it could be tempted by the humongous amounts of money spent on healthcare.\nAnd no matter how powerful its organizational structure is, Apple, like every company, is susceptible to personal mediocrity: Insecure B-grade managers hire C-grade players who won’t challenge their authority or their “expertise”, and products suffer as a result. We know the old organization joke: When upper layer people look down, they see brains; when brains in the lower layers look up, they see #$$holes. For an organization, the beginning of the end comes when the brains realize the upper layers are colonized by incompetents and get into Why Bother Mode. I don’t know enough about the company’s hiring and firing practices but, in my nervous mind, this is the biggest risk to Apple. From a distance, it’s impossible to know how hard Apple works to avoid a form of degenerative failure.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350290159,"gmtCreate":1616207708571,"gmtModify":1634526728471,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Like my comment","listText":"Like my comment","text":"Like my comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350290159","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohunote.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324995293,"gmtCreate":1615949233812,"gmtModify":1703495416817,"author":{"id":"3573643362626678","authorId":"3573643362626678","name":"Jiayu97","avatar":"https://static.tigerbbs.com/9bddf909e289ba70311ce86f4de36637","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573643362626678","authorIdStr":"3573643362626678"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/324995293","repostId":"2119197149","repostType":4,"isVote":1,"tweetType":1,"viewCount":825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}