The guy who needed a booster seat, didn't know how to drink water, might actually have been a robot.

那個需要加高座椅、不知道怎麼喝水的人，可能真的是個機器人。

But in the past year, a comeback for the ages.

但在過去的一年裡，它又捲土重來。

He is singularly focused, has been since the dorm room at Harvard, and the man can execute.

從哈佛大學的寢室開始，他就一直專注於自己的工作，而且他很有執行力。

MMA fights, a blooming friendship with Jensen Huang, talks of a hot Zuck summer, chains, fur coats, and thanks to a stellar stock market outperformance, a Wall Street darling.

綜合格鬥，與黃健翔（Jensen Huang）綻放的友誼，扎克（Zuck）炎熱夏天的話題，鏈條，皮草大衣，以及由於股市表現出色而成為華爾街寵兒。

Now fighting it out with Elon Musk for title of the third richest person in the world.

現在，他正與埃隆-馬斯克（Elon Musk）爭奪世界第三富豪的頭銜。

The guy is Mark Zuckerberg.

這個人就是馬克-扎克伯格。

Right.

對

And, you know, he may be dressing nicely, but he's still a cold-blooded killer.

而且，你知道，他可能穿得很體面，但他仍然是個冷血殺手。

But now, his moment of truth.

但現在，他迎來了關鍵時刻。

Metashares are set up for what could be the worst day the stock has seen in years.

Metashares 已做好準備，這可能是該股多年來最糟糕的一天。

Can he deliver on the most important platform shift in tech in decades, generative AI?

他能否實現數十年來科技領域最重要的平臺轉變--生成式人工智能？

Now, why doesn't he deserve the benefit of the doubt?

現在，他為什麼不值得懷疑？

He does.

他是這麼說的。

And I'm giving it to him.

我要把它給他

This week on Tech Check, the reinvention of Zuck and his show-me moment.

本週 "技術檢查 "將介紹扎克的重塑和他的 "秀我時刻"。

Harvard didn't have a Facebook, so that's the gap that we were trying to fill.

哈佛沒有 Facebook，這正是我們要填補的空白。

And now we're at 100,000 people, so who knows where we're going next.

現在我們已經有 10 萬人了，誰知道我們下一步會去哪裡呢？

That was early Zuck on CNBC in 2004.

那是 2004 年早期扎克在 CNBC 上的發言。

Where he went next was an empire.

他接下來要去的地方是一個帝國。

His family of apps, which includes Facebook, Instagram, WhatsApp, and Messenger, today touches nearly 4 billion users.

他的應用程序家族包括 Facebook、Instagram、WhatsApp 和 Messenger，目前擁有近 40 億用戶。

He founded his company at 19 years old, and two decades later, he is still in control and more successful than ever.

他在 19 歲時創辦了自己的公司，二十年後的今天，他依然掌控著公司，而且比以往任何時候都更加成功。

That is a feat that today is rare and getting rarer.

這一壯舉在今天已經非常罕見，而且越來越罕見。

Mark Zuckerberg is one of the few continuing-to-work big tech founders, CEOs.

馬克-扎克伯格是少數幾位仍在繼續工作的大型科技公司創始人和首席執行官之一。

You've seen everyone from Jeff Bezos go to his effective retirement.

從傑夫-貝索斯（Jeff Bezos）到他的退休，你都看到了。

Larry and Sergey become much less involved.

拉里和謝爾蓋的參與度大大降低。

Within Google, Steve Jobs has passed away.

在谷歌內部，史蒂夫-喬布斯已經去世。

And so you look at the landscape and you say, who's remaining?

是以，你看一看周圍的環境，然後說，誰還在這裡？

The answer, only Zuck and the current AI king, NVIDIA CEO, Jensen Huang.

答案只有祖克和目前的人工智能之王--英偉達公司首席執行官黃仁勳。

It's not a bad stage to share, and something Zuck himself seems to be proud of.

這是一個不錯的分享舞臺，扎克本人似乎也為此感到自豪。

He and I actually at this point are the two longest-standing tech founders of the big tech companies.

實際上，他和我是目前大型科技公司中歷史最悠久的兩位技術創始人。

He's actually been at it for more than, I think, more than 30 years, or almost 30 years.

實際上，他從事這項工作已經超過 30 年了，我想差不多有 30 年了。

So he's been doing it a bit longer than me.

所以他幹這行的時間比我長一些。

But we have a lot of stories and experience that we share, and I just appreciate his wisdom on all this stuff.

但我們有很多共同的故事和經驗，我很欣賞他在這些方面的智慧。

That shared wisdom helped both their companies leave the rest of tech in the dust this year.

這種共同的智慧幫助他們的公司在今年甩開了其他科技公司。

After NVIDIA, Meta is the best-performing mega-cap stock of the last 12 months, by a long shot.

在英偉達（NVIDIA）之後，Meta 是過去 12 個月中表現最好的超級大盤股。

Even as the rest of tech and social media stocks in particular lag.

即使其他科技股和社交媒體股尤其落後。

So how did he do it?

他是怎麼做到的？

Well, one, he got fit, dubbing 2023 the year of efficiency.

首先，他身體健康，將 2023 年稱為 "效率年"。

That was an incredible call, incredible turnaround in terms of management.

這是一個令人難以置信的電話，在管理方面是一個令人難以置信的轉變。

You don't see companies at this scale with that agility.

在這種規模的公司中，還沒有哪家公司能做到如此敏捷。

What we heard last night was a significant change, and I think it's really important to understand that Mark said this isn't one and done.

我們昨晚聽到的是一個重大變化，我認為真正重要的是要明白，馬克說這不是一勞永逸的。

He cut headcount, and he went against Silicon Valley's traditionally softer culture.

他裁員，與硅谷傳統的軟文化背道而馳。

They have a hiring frieze on in the company.

他們的公司里正在舉行招聘會。

I think this is not only great for Meta, but it's really leadership for all of Silicon Valley and all of technology.

我認為這不僅對 Meta 有益，而且對整個硅谷和所有技術領域都具有上司作用。

Zuck was seen as ruthless at the time, multiple rounds of layoffs slashing thousands of workers at a time, ultimately axing 22 percent of its workforce.

當時，Zuck 被認為是無情的，他進行了多輪裁員，每次裁掉數千名員工，最終裁掉了 22% 的員工。

But it worked.

但還是成功了。

Quarterly revenue rose, profitability soared, and Wall Street cheered.

季度收入增加，盈利能力飆升，華爾街歡呼雀躍。

It's the fastest turnaround in corporate history with Zuckerberg.

這是扎克伯格在公司歷史上最快的一次扭虧為盈。

You're talking about an employee number now that's around 67,000.

現在的員工人數約為 67,000 人。

It was 87,000 and it's high.

是 87000，很高。

Right.

對

You know, somebody's saying to me, how long does it take you to like, you know, you get your, you buy a new house, you put, get it together.

有人對我說，你要花多長時間才能買到新房子？

It takes you like nine months to feel comfortable, whatever.

不管怎麼說，你得花上九個月的時間才能感覺舒適。

It's like this guy reorganized an entire company in three months.

這傢伙好像在三個月內重組了整個公司。

It's unbelievable what Zuckerberg did, and we continue to see the impact from it.

扎克伯格的所作所為令人難以置信，我們將繼續看到它帶來的影響。

And the cherry on top, Meta issued its first ever dividend, a clear sign to investors that it was evolving into a more mature company.

最重要的是，Meta 發佈了有史以來的首次股息，這清楚地向投資者表明，它正在發展成為一家更加成熟的公司。

It's a turnaround for the ages.

這是一個千載難逢的轉機。

I mean, the comeback kid Zuckerberg, I mean, go back a year and a half ago and now you're doing a dividend.

我的意思是，捲土重來的扎克伯格，我的意思是，回到一年半以前，現在你正在進行分紅。

One that listened to Wall Street.

一個聽從華爾街的人。

They are making gestures of capital discipline, of shareholder friendliness.

他們正在做出資本紀律和股東友好的姿態。

They seem to have obviously taken to heart the criticism that they were being profligate and spending big.

顯然，他們似乎已經把對他們揮霍無度、大手大腳的責備放在了心上。

Another key to Meta's recent success,

Meta 近期成功的另一個關鍵、

Zuck's early and almost accidental embracing of generative AI.

Zuck 早期幾乎是偶然地接受了生成式人工智能。

Before many of his rivals even knew to start paying attention.

他的許多對手甚至還不知道要開始關注他。

We were constrained on basically the infrastructure that we had to catch up to what TikTok was doing as quickly as we would have wanted to.

我們的基礎設施基本上受到限制，無法像我們希望的那樣迅速趕上 TikTok 的發展。

So I basically looked at that and I was like, hey, we have to make sure that we're never in this situation again.

所以我看了之後就想，嘿，我們必須確保再也不會遇到這種情況了。

So let's order enough GPUs to do what we need to do on reels and ranking content and feed.

是以，讓我們訂購足夠的 GPU 來完成我們在卷軸、排名內容和飼料方面需要做的工作。

But let's also, let's double that.

但是，我們也要加倍努力。

Which meant that in 2023, when everyone began realizing the potential of gen AI and sent the prices of those NVIDIA GPUs soaring, Zuck already had a stash.

這意味著，到 2023 年，當所有人都開始意識到人工智能的潛力，並讓英偉達 GPU 的價格一路飆升時，祖克已經擁有了一批藏品。

That might be why his latest AI model, the Llama 3, is seen as one of the best open source models out there.

這也許就是他的最新人工智能模型 Llama 3 被視為最佳開源模型之一的原因。

And the fact that it's open and not closed like ChatGPT and Gemini, that is another major differentiation from competitors.

而且，它是開放的，不像 ChatGPT 和 Gemini 那樣是封閉的，這是與競爭對手的另一大區別。

One that Zuck is betting will pay off in the long run.

扎克打賭，從長遠來看，這將帶來回報。

There's a bunch of times when we've launched or wanted to launch features and then Apple's just like, nope, you're not launching that.

有很多次，當我們推出或想要推出功能時，蘋果卻說，不，你不能推出。

The question is, are we kind of set up for a world like that with AI, where you're going to get a handful of companies that run these closed models that are going to be in control of the APIs and therefore are going to be able to tell you what you can build?

問題是，在人工智能領域，我們是否已經做好準備，讓少數幾家公司運行這些封閉模型，控制應用程序接口，從而告訴你可以構建什麼？

Well, for one, I can say for us, it is worth it to go build a model ourselves to make sure that we're not in that position.

首先，我可以說，對我們來說，為了確保不陷入這種境地，我們自己去建立一個模型是值得的。

All of this has driven Meta to jump headfirst into the AI race and catch up quickly.

所有這些都促使 Meta 公司一頭扎進人工智能競賽中，並迅速迎頭趕上。

Its Meta AI chatbot hit the market nearly a year after major competitors,

其 Meta 人工智能哈拉機器人比主要競爭對手晚近一年進入市場、

Microsoft's and Google's.

微軟和谷歌。

But Zuck was quick to leverage Meta's scale and distribution to put that tech into the wild, into the hands of billions of users.

但扎克很快就利用 Meta 的規模和分銷優勢，將這項技術推廣到數十億用戶手中。

Compare that to Google, which has talked about adding AI into its core search product for a year, but has yet to take it out of beta testing.

與之相比，谷歌一年來一直在討論將人工智能加入其核心搜索產品，但至今尚未將其從測試版中剝離出來。

Or Apple, which has an install base of more than 2 billion and has yet to articulate a clear gen AI strategy.

蘋果公司也是如此，它擁有超過 20 億的安裝量，但至今仍未制定出明確的人工智能戰略。

Zuckerberg is used to changing his product quickly.

扎克伯格習慣於迅速改變自己的產品。

I mean, if you think about the social media era, like social media companies need to shift and adapt because people get bored so quickly.

我的意思是，如果你想想社交媒體時代，社交媒體公司需要轉變和適應，因為人們很快就會厭倦。

And that's why you have Facebook has gone from the news feed to stories to reels.

這也是 Facebook 從新聞源到故事再到卷軸的原因。

And now it's embedding AI. It's just built into the company's DNA.

現在，它正在嵌入人工智能。它已經融入了公司的基因。

Even if it's not ready for primetime, Meta AI has its share of issues.

儘管 Meta AI 還沒有準備好進入黃金時代，但它也有自己的問題。

The New York Times called it fun to use, but can't be trusted, saying it struggles with facts, numbers and web search.

紐約時報》稱它使用起來很有趣，但不可信，說它在事實、數字和網絡搜索方面很吃力。

But nonetheless, a bold move from Zuck that could keep him on top or see it all crashing down once again.

儘管如此，扎克的這一大膽舉動可能會讓他繼續保持巔峰狀態，也可能會讓一切再次崩潰。

For Mark Zuckerberg, it has always been a thin line between tech visionary and villain.

對於馬克-扎克伯格來說，科技界的遠見卓識與小人之間的界限一直很窄。

And a big part of his success has been reinvention on both a personal and corporate level.

他的成功很大程度上得益於個人和企業層面的創新。

Facebook successfully navigated a botched IPO in 2012 and the shift to mobile.

2012 年，Facebook 成功地完成了一次失敗的首次公開募股（IPO），併成功地向移動領域轉型。

But some of the most existential threats were around data privacy.

但是，一些最致命的威脅是圍繞數據隱私的。

Does this data scandal show that your business model is broken?

這些數據醜聞是否表明您的業務模式已經崩潰？

This was a huge breach of trust. People come to Facebook every day and they depend upon us to protect their data. And I am so sorry that we let so many people down.

這是一個巨大的失信行為。人們每天都會訪問 Facebook，他們依賴我們保護他們的數據。我很抱歉，我們讓這麼多人失望了。

And amplification of political content.

以及政治內容的放大。

The slew of negative headlines about Facebook's failure to tamp down on the spread of radicalizing content and also its failure to respond to the concerns of employees.

關於 Facebook 未能遏制激進內容傳播以及未能迴應員工關切的負面頭條新聞層出不窮。

The procession of high-profile appearances on Capitol Hill added pressure in which lawmakers didn't pull any punches.

議員們在國會山的高調露面增加了壓力，而議員們也毫不示弱。

Was your data included in the data sold to the malicious third parties?

您的數據是否包含在出售給惡意第三方的數據中？

Your personal data?

您的個人數據？

Yes.

是的。

It was.

就是這樣。

Are you willing to change your business model in the interest of protecting individual privacy?

為了保護個人隱私，您願意改變您的業務模式嗎？

Congresswoman, we have made and are continuing to make changes to reduce the amount of data.

女議員，我們已經並將繼續做出改變，以減少數據量。

Are you willing to change your business model in the interest of protecting individual privacy?

為了保護個人隱私，您願意改變您的業務模式嗎？

Congresswoman, I'm not sure what that means.

女議員，我不知道這意味著什麼。

A few years after that, Zuck made a big push into the metaverse.

幾年後，扎克大舉進軍元宇宙。

He's getting dragged on the internet for how ugly the graphics of this game are.

他因為這款遊戲的畫面有多難看而被拖到了網上。

Fortune calling it an international laughingstock.

財富》稱其為國際笑柄。

Slate labeling the look so stupid.

石板上的標籤看起來太蠢了。

And Forbes asking, does Mark Zuckerberg not understand how bad his metaverse is?

福布斯》問道：馬克-扎克伯格難道不知道他的元宇宙有多糟糕嗎？

A move Wall Street also didn't take all too well.

華爾街對這一舉動也不太滿意。

I made a mistake here.

我犯了一個錯誤。

I was wrong.

我錯了。

I trusted this management team that was ill-advised.

我信任這個管理團隊是不明智的。

But then came his year of efficiency, saving his stock and Wall Street cred.

但隨後，他又迎來了效率之年，挽救了他的股票和華爾街信譽。

Plus there was another tech villain on the scene taking some of the pressure off.

此外，還有另一個技術反派出現，減輕了一些壓力。

Elon Musk.

埃隆-馬斯克

His drama-filled purchase of Twitter with all of the layoffs, rebranding, outages, glitches.

他對 Twitter 的收購充滿了戲劇性，包括裁員、品牌重塑、中斷和故障。

That allowed Zuck to swoop in with his copycat, Threads.

這讓祖克得以帶著他的山寨版 "Threads "大舉進攻。

Big news today.

今天的大新聞

We are launching Threads, an open and friendly public space for conversations.

我們將推出 "Threads"，一個開放、友好的公共對話空間。

And then there was the billionaire cage fight.

然後是億萬富翁的籠鬥。

Musk challenged Zuck, who just happened to be 18 months into his Brazilian jiu-jitsu training, to a cage match.

馬斯克向扎克發起挑戰，而扎克剛好接受了 18 個月的巴西柔術訓練。

And though it never ended up happening, Zuck emerged, seeming like the adult in the room, another boost to his public image.

雖然這一切最終都沒有發生，但扎克的出現讓人覺得他是房間裡的成年人，又一次提升了他的公眾形象。

Zuck proved he could take a punch.

扎克證明了他能捱揍。

I don't think it's any surprise or it's any coincidence that he's taken up MMA as he's been able to take punches in the business world and sort of respond to them.

我認為他參加綜合格鬥比賽並不令人意外，也不是巧合，因為他在商業世界中能夠承受重擊，並做出迴應。

I think those two are pretty linked.

我認為這兩者是緊密相連的。

And what Zuckerberg is trying to show himself and show the world is that he can, you know, effectively take one to the chin, but continue to compete and have no interest in standing down.

扎克伯格試圖向自己和世界展示的是，他可以，你知道的，有效地承受壓力，但繼續競爭，並且沒有興趣退居幕後。

But it's windy at the top.

但山頂風很大。

And Zuck might not want to get too comfortable.

祖克可能不想太舒服。

Its most recent quarterly report, a reminder that Wall Street and public opinion is fickle.

它最近的季度報告提醒人們，華爾街和公眾輿論是善變的。

Meta gave a bleaker outlook for its sales this year and way more A.I. spending than Wall Street was prepared for.

Meta 公司對今年的銷售前景作出了暗淡的預測，人工智能方面的支出也遠遠超出了華爾街的預期。

There are going to be periods of more investment.

會有投資增加的時期。

I read that as probably several quarters of this investment phase.

我認為，這可能是投資階段的幾個季度。

They obviously just updated the CapEx guidance for the full year.

顯然，他們剛剛更新了全年的資本支出指導。

But don't expect, reading between the lines here, much of a lift or maybe a breakout in terms of A.I.

不過，從字裡行間看，不要指望人工智能會有多大的提升或突破。

Shares plummeted in the wake of those results, erasing nearly $200 billion in market value.

業績公佈後，公司股價暴跌，市值縮水近 2,000 億美元。

A meta meltdown, shares hitting levels not seen since late January, as revenue guidance comes in below expectations.

元崩潰，股價跌至 1 月下旬以來的最低水平，因為收入指導低於預期。

Is this the beginning of the end for the mega cap rally?

這是否是巨型股漲勢結束的開始？

Zuckerberg spent most of that earnings call focused on money losing businesses like A.I. and the metaverse.

扎克伯格在財報電話會議上的大部分時間都集中在人工智能和元宇宙等虧損業務上。

But for his part, Zuck has a history of turning high costs into actual revenue, and he urged investors to remember that.

但就扎克而言，他有將高成本轉化為實際收入的歷史，他敦促投資者記住這一點。

Historically, investing to build these new scaled experiences in our apps has been a very good long-term investment for us and for investors who have stuck with us.

從歷史上看，投資在我們的應用程序中構建這些新的擴展體驗，對我們和一直支持我們的投資者來說，都是一項非常好的長期投資。

Smart investors see that the product is scaling and that there's a clear monetizable opportunity there even before the revenue materializes.

聰明的投資者甚至在收入實現之前，就能看到產品的規模正在擴大，而且存在明顯的貨幣化機會。

But social media tastes and trends, they move quickly.

但是，社交媒體的口味和趨勢變化很快。

TikTok's rapid rise underscores that.

TikTok 的迅速崛起就說明了這一點。

TikTok's potential ban, another challenge or opportunity for Zuck to navigate.

TikTok 的潛在禁令，是 Zuck 要應對的又一個挑戰或機遇。

There's also the advertising market, of which 98% of Meta's current revenue rests on.

此外還有廣告市場，Meta 目前 98% 的收入都依賴於廣告市場。

It's an industry that is subject to quick downturns.

這是一個容易迅速衰退的行業。

It's one that is facing more competition than ever.

它面臨的競爭比以往任何時候都要激烈。

And there's a presidential election this year.

今年還有總統大選。

Meta's numbers have been boosted by huge ad spend from Chinese retailers like Tmoo and Shein.

天貓和申銀萬國等中國零售商的鉅額廣告支出推動了 Meta 的業績增長。

So as Mark Zuckerberg rides the wave of his latest reinvention, a reminder that in the fast-paced world of tech, staying on top is just as hard as getting there.

是以，當馬克-扎克伯格（Mark Zuckerberg）乘著他最近一次重塑的浪潮，提醒人們在快節奏的科技世界裡，保持領先地位和取得領先地位一樣難。

you

你