如果含上市前数据，截至2024年底，蔚来累计亏损已超1000亿元，而2025年前三季度总亏损152.2亿元，尽管亏损在持续收窄、营收规模在增长，但常年保持近20%的高研发投入，叠加庞大的基础设施运营成本，如同两道枷锁，让蔚来难以脱身。这正是李斌急于将芯片、换电业务分拆融资的核心动因：通过“分拆”将巨额研发成本移出上市公司报表，缓解资本市场对“千亿亏损”的担忧。
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只值20元的阿爸，自己觉得人生没有什么遗憾，自己能活下来，能娶到老婆，能把两个孩子养大，孩子能上大学，这些都是三十年前那个在工地搬砖的年轻人想都不敢想的事。
The agent was able to create a very detailed documentation about the ZX Spectrum internals. I provided a few .z80 images of games, so that it could test the emulator in a real setup with real software. Again, I removed the session and started fresh. The agent started working and ended 10 minutes later, following a process that really fascinates me, and that probably you know very well: the fact is, you see the agent working using a number of diverse skills. It is expert in everything programming related, so as it was implementing the emulator, it could immediately write a detailed instrumentation code to “look” at what the Z80 was doing step by step, and how this changed the Spectrum emulation state. In this respect, I believe automatic programming to be already super-human, not in the sense it is currently capable of producing code that humans can’t produce, but in the concurrent usage of different programming languages, system programming techniques, DSP stuff, operating system tricks, math, and everything needed to reach the result in the most immediate way.
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