巨亏200亿后，美团的野心

诗与星空2025-12-20

最近美团的心情很不美。美团2025年三季度经调整亏损超160亿元，叠加前期亏损累计差不多200亿，主要是和京东、淘宝闪购搞外卖大战的原因。对于京东来说，外卖业务是新赛道引流；对于淘宝来说，外卖业务算老客户回流；但对于美团来说，外卖是它的生存之本，外卖大战不能输。随着京东挤进前三把交椅，淘宝坐稳了市场份额，美团压力倍增。从某种意义上讲，外卖是京东和淘宝的“第二曲线”。然而，与此同时，美团的“第二曲线...

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ambitions","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MPNGY":1.96,"09618":0.9,"03690":1.96,"HMTD.SI":0.6,"METmain":0.6},"content_text":"最近美团的心情很不美。美团2025年三季度经调整亏损超160亿元，叠加前期亏损累计差不多200亿，主要是和京东、淘宝闪购搞外卖大战的原因。对于京东来说，外卖业务是新赛道引流；对于淘宝来说，外卖业务算老客户回流；但对于美团来说，外卖是它的生存之本，外卖大战不能输。随着京东挤进前三把交椅，淘宝坐稳了市场份额，美团压力倍增。从某种意义上讲，外卖是京东和淘宝的“第二曲线”。然而，与此同时，美团的“第二曲线”还遥遥无期。谁能想到，当年血雨腥风的“千团大战”形成的格局，居然门槛这么“低”。当然了，并不是真正的门槛低，只是京东、阿里太强大了。能和美团一起搞外卖大战的，也就腾讯、阿里、京东这么有限几家。腾讯已经不是那个毛头小伙子，性格变得稳重，如今的腾讯很少“出风头”。据报道，在AI大模型领域相对落后的腾讯引进了OpenAI的著名研究员姚顺雨，担任首席AI科学家。姚顺雨出生于1998年，本科毕业于清华大学姚班，后获普林斯顿大学计算机科学博士。他在AI领域有突出贡献，如提出思维树（TreeofThoughts）框架和ReAct方法，提升AI决策与智能体能力，并深度参与OpenAI的智能体产品Operator、DeepResearch等核心研发。2025年5月，他入选《麻省理工科技评论》“35岁以下科技创新35人”中国区名单。有一个说法，AI就是美国的中国人和中国的中国人之间的竞争。当中国企业具有更好的吸引力的时候，美国的中国人也开始回流了。正所谓，人才流动的方向，就是文明的方向。星空君发现，有一批阿里、字节甚至腾讯的AI人才，流向了一个看似离谱的公司：美团。你一家搞外卖的公司，引进那么多AI人才干什么？美团CEO王兴表示：AI技术将颠覆所有行业，美团必须主动进攻，而非被动防御。最近美团放出了几个开源大模型，都非常能打。包括LongCat-Flash-Chat（9月）、LongCat-Flash-Thinking（9月）、LongCat-Video（10月）、LongCat-Flash-Omni（11月）和LongCatImage系列（12月）。LongCat-Flash在H100上实现超过100token/s的推理速度，成本低至0.7美元/百万token，远低于行业平均水平。其在智能体工具调用、指令遵循等测评上的表现已超越阿里巴巴Qwen3-MoE-2507。LongCat-Flash-Omni，业界首个实现\"全模态覆盖、端到端架构、大参数量高效推理\"三位一体的开源大语言模型。举个美团自身应用的例子：美团的智能调度系统\"超脑\"整合12维数据，订单匹配耗时压缩至0.8秒，骑手日均配送量提升47%，配送距离缩短18%。在高峰期，系统可预判未来30分钟的订单分布，提前将骑手调度至潜在需求区域，使高峰时段运力利用率提升200%。面对恶劣天气，系统能在5分钟内完成全城骑手的动态再平衡，将运力缺口填补时间缩短80%。像AI在广告领域的应用、智能客服的应用，属于比较大路货的东西，不再赘述。美团上市的时候，王兴在社交媒体发了一段话：好棋手通常都知道并接受自己同时也是更大棋局里的棋子。很显然，他知道做大的美团依然是一枚棋子。随着AI时代的到来，他又表达了新的观点：最大的风险从来不是投入过多，而是在新时代开启时，手里没有一张能上桌的底牌。除了AI大模型，王兴也在具身智能（人形机器人）方面加大投资。当红辣子鸡宇树、银河通用等都是他投资的对象。无论棋子，还是底牌，王兴对自身、对美团，都有一个清醒的认知。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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