I posted a long article about MiniMax and the Dark Side of the Moon late last night. It feels like Chinese large-scale startups are caught between two iron plates. On one side are OpenAI, Anthropic, and xAI, with valuations of hundreds of billions of dollars and budgets of tens of billions of dollars; on the other side are Alibaba, ByteDance, Tencent, and DeepSeek, which have e-commerce, advertising, and quantitative cash flow to feed their models. It's really not easy. The original article was 6,000 words long; I converted it into a video commentary with a single click.
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Fetching the original tweets from X for a clean reading view.
Hang tight—this usually only takes a few seconds.