Tobias

Major food delivery platforms face systemic exploitation by shadowy brokers enabling unlicensed “phantom kitchens” to operate as legitimate chains, despite technological upgrades and subsidy-driven market competition. Third-party intermediaries charge fees to fraudulently register residential kitchens using fabricated licenses and brand affiliations, evading audits through master account loopholes. Operators append established brands with location tags while avoiding direct oversight, with brokers offering turnkey solutions including fake kitchen videos for platform verification. While claims of operational stability prevail absent major incidents, consumers remain unaware their orders originate from uninspected home kitchens. This gray-market ecosystem highlights vulnerabilities in platform governance and food safety controls.

At the Global Digital Economy Conference, Beijing unveiled plans for AI-powered “data-smart cities” featuring optimized governance and integrated intelligence hubs. 5G emerged as a key diplomatic and technological tool, enabling real-time applications like holographic streaming and fueling a projected $1.3 trillion smart city market by 2035. The integration aims to create cities that anticipate urban needs.

At the ITU’s Geneva “AI for Good” summit, New Oriental founder Yu Minhong addressed the middle-age crisis. He described it as a normal, critical inflection point offering a choice: embrace renewal for a “second spring” or risk decline. Yu advised setting new life goals and persistently tackling challenges head-on via “cumulative small wins.” He exemplified this resilience through his own experience steering New Oriental’s dramatic pivot from near-collapse in education to success in live-streaming commerce via Oriental Selection.

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BYD announced a breakthrough in Level 4-like autonomous parking on July 10, pledging full financial liability for accidents during smart parking using its Tianyan Eye system in China, bypassing insurance. Competitors vary: Harmony Smart Mobility covers repairs up to 50,000 yuan for specific models under a 12-month plan, XPeng requires a 239-yuan annual insurance package, while Tesla, Li Auto, and Xiaomi rely entirely on commercial insurance, risking premium hikes post-claims. BYD’s policy sets a new industry standard for risk accountability.

Chinese beverage brand Oriental Leaf has launched 1.5L bottles, tripling its standard size, as supersized drinks gain momentum across the industry. Driven by shelf visibility, cost efficiency, and consumer demand, jumbo formats dominate categories like tea, water, and soft drinks. Manufacturers benefit from lower packaging costs per unit volume, while consumers prioritize value-per-milliliter economics and sharing convenience. Supersized bottles also serve as social media-friendly accessories, appealing to younger audiences through digital engagement. This trend reflects a strategic blend of marketing appeal, production economics, and evolving consumption habits.

OpenAI’s AI browser challenges Google Chrome’s dominance, threatening its $200 billion ad empire which relies on user tracking. This Chromium-based browser centralizes interactions in a ChatGPT-like interface, using integrated AI agents to perform tasks autonomously. This could redirect search traffic and reduce Google’s ad revenue while granting OpenAI valuable user data. With technical expertise from former Chrome executives and growing industry adoption of agentic browsing, OpenAI’s move marks a critical shift in the tech landscape, testing Google’s 66% market share.

China’s micro-drama market surges but faces content originality concerns. A controversial mini-series, “Rehire Me,” drew criticism for its clear parallels to Huawei and Xiaomi. It features characters named similarly to Huawei’s Yu Chengdong and Xiaomi’s SU7 car model within fictionalized corporate rivalry plots. Despite accusations of thinly-veiled exploitation for views and monetization tactics, the series gained over 810,000 views.

Nvidia reached a $4 trillion market valuation milestone, becoming the first company to achieve this feat as shares closed at $163.90. Its cap now surpasses the combined markets of the UK, France, and Germany, exceeding Microsoft and Apple. This 800% surge since 2021 stems from insatiable AI chip demand from tech giants building data centers, with Wall Street analysts projecting potential for $6 trillion amid eased export concerns.

TCL Zhonghuan expects H1 2024 net losses of 4-4.5 billion yuan ($550-620 million), significantly wider than the previous year’s loss. The Chinese solar giant cited plunging prices and inventory writedowns driven by severe oversupply across the manufacturing chain. Although global PV demand remains resilient, inventory buildup and cooling demand caused sharp reversals after a temporary surge. As a key industry player, its financial distress reflects the solar sector’s turmoil after excessive expansion—current capacity is ~80% above demand, triggering failures and consolidation. Regulatory efforts aim to curb disorderly pricing and retire obsolete capacity, potentially strengthening the sector long-term.

China’s heatwave, nearing 40°C, is causing car protective films to bubble like “bubble wrap” on parked vehicles, described as “mobile jellyfish” when driven. Reactions mix amusement over the spectacle with safety concerns. Experts note film removal techniques can cause bubbles, but extreme heat in parked cars also tests material limits. This has spurred a 30% surge in film upgrades, potentially advancing the $2.1 billion vehicle wrap market.