下游的优势在于市场想象空间巨大，估值弹性高，一旦实现技术突破，有望获得垄断性收益。但风险远高于上下游：盈利周期极长，预计要到2030年才能实现现金流转正；技术路线失败率高，类似Meta元宇宙投入效果不佳的案例并不少见；且资本依赖性极强，一旦融资环境恶化，将直接冲击企业生存。
Growth means new customers; profitability means strong margins at the studio level; efficiency means staying ahead of technology and operational changes, including AI and evolving print equipment. Brewster discloses that every SpeedPro studio is profitable, which he calls “very unique for a franchise.” At the top quartile, owners’ discretionary profit sits at about 26% of sales, with an average of $445,000.
。关于这个话题，51吃瓜提供了深入分析
}[StructLayout(LayoutKind.Sequential)]
Queued for next boot: harbor.cortado.thoughtless.eu/bootc/server:add-nginx