<?xml version="1.0" encoding="utf-8" standalone="yes"?><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:content="http://purl.org/rss/1.0/modules/content/"><channel><title>行业观察 on 扯谈艺术家</title><link>https://iamjohnwang.com/posts/industry-observation/</link><description>Recent content in 行业观察 on 扯谈艺术家</description><generator>Hugo</generator><language>zh-cn</language><lastBuildDate>Thu, 08 Oct 2026 00:00:00 +0800</lastBuildDate><atom:link href="https://iamjohnwang.com/posts/industry-observation/index.xml" rel="self" type="application/rss+xml"/><item><title>拼多多私有化狂想3：股东“零回报”背后的现实约束</title><link>https://iamjohnwang.com/posts/industry-observation/pdd-privatization-shareholder-returns/</link><pubDate>Thu, 20 Aug 2026 00:00:00 +0800</pubDate><guid>https://iamjohnwang.com/posts/industry-observation/pdd-privatization-shareholder-returns/</guid><description>从跨境资金结构、离岸流动性与资本配置优先级，探讨拼多多股东“零回报”背后的现实约束。</description></item><item><title>Strategy算不算庞氏骗局？</title><link>https://iamjohnwang.com/posts/industry-observation/strategy-financing-machine/</link><pubDate>Thu, 25 Jun 2026 00:00:00 +0800</pubDate><guid>https://iamjohnwang.com/posts/industry-observation/strategy-financing-machine/</guid><description>不是骗局，但这套融资机器比你想象的更脆弱。</description></item><item><title>Strategy用13.8亿赎回15亿可转债：机构是在割肉认输，还是止盈离场？</title><link>https://iamjohnwang.com/posts/industry-observation/strategy-convertible-bond-buyback/</link><pubDate>Tue, 09 Jun 2026 00:00:00 +0800</pubDate><guid>https://iamjohnwang.com/posts/industry-observation/strategy-convertible-bond-buyback/</guid><description>从可转债套利、动态对冲与资金来源，观察 Strategy 债券回购中不同参与者的利益关系。</description></item><item><title>拼多多私有化狂想2：大资金的如意算盘</title><link>https://iamjohnwang.com/posts/industry-observation/pdd-privatization-big-capital/</link><pubDate>Thu, 04 Jun 2026 00:00:00 +0800</pubDate><guid>https://iamjohnwang.com/posts/industry-observation/pdd-privatization-big-capital/</guid><description>从大资金与散户的不同处境出发，推演私有化中的股权结转、资金需求与财务疑问。</description></item><item><title>一个奥卡姆剃刀主义者对 Strategy 卖币的看法</title><link>https://iamjohnwang.com/posts/industry-observation/strategy-bitcoin-occams-razor/</link><pubDate>Wed, 03 Jun 2026 00:00:00 +0800</pubDate><guid>https://iamjohnwang.com/posts/industry-observation/strategy-bitcoin-occams-razor/</guid><description>借 Strategy 卖币，讨论参与 BTC 时，愿意接受多少额外假设与复杂度。</description></item><item><title>拼多多财报后的私有化狂想：一场逻辑自洽的资本谜局？</title><link>https://iamjohnwang.com/posts/industry-observation/pdd-privatization-speculation/</link><pubDate>Thu, 28 May 2026 00:00:00 +0800</pubDate><guid>https://iamjohnwang.com/posts/industry-observation/pdd-privatization-speculation/</guid><description>从现金储备、股东回报与控制权结构出发，提出关于拼多多私有化的假说。</description></item><item><title>AI时代，聊聊海力士的几点思考</title><link>https://iamjohnwang.com/posts/industry-observation/ai-era-sk-hynix/</link><pubDate>Mon, 04 May 2026 00:00:00 +0800</pubDate><guid>https://iamjohnwang.com/posts/industry-observation/ai-era-sk-hynix/</guid><description>关于海力士 HBM 优势、AI 资本开支风险与估值的几点个人思考。</description></item></channel></rss>