1. The e-commerce business continues to grow, but looking at the GMV of several other e-commerce platforms, such as JD and Ali, Q1's GMV declined. Overall, the e-commerce share may be a “traditional e-commerce to live e-commerce” shift. Although there is a macro influence, it is more about the division of the cake by different business formats. The growth of live e-commerce business is depressing the valuation of traditional e-commerce because the competitive pattern is currently unclear;
2. Internet advertising is clearly better than traditional advertising. Kuaishou's brand advertising revenue increased by more than 20% year-on-year for two consecutive quarters. Compared with traditional media, such as elevator media leading mass media, Kuaishou's advertising business performance was clearly relatively good, and JD's advertising business revenue also increased. For advertisers, “Internet advertising that can measure effectiveness is far better than regular advertising.”
Figure: Fanzhong Media Quarterly Report Comparison
3. Short videos have a great competitive advantage in various segments. For example, Kuaishou recruitment is showing good results in financial reports. I have seen it myself in the process of using Kuaishou. This has a great advantage for blue-collar recruitment, so traditional pressure similar to 58 cities will be reflected;
4. Internet companies are crowded, and there is a lot of water. Whether it's marketing expenses or employment expenses, once crowded, profits can be squeezed out all of a sudden, but companies that always reduce workers' wages can't get far;
Taken together, Kuaishou's financial report is OK overall. Currently, user activity has not continued. In the context of maintaining increased user activity, it has reduced a lot of costs and increased revenue. At least the valuation of the stock price is...