港股18A进入“兑现时代”，资本只为确定性买单自18A制度落地以来，港股成为中国创新药企业最重要的融资通道之一。但经历了集体狂热、估值回调与流动性重构之后，其核心逻辑早已从最初的“为梦想助推”演变为“为确定性买单”。
18:43, 27 февраля 2026Силовые структуры
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National Portrait Gallery/Catherine Opie, Regen Projects and Thomas Dane Gallery
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The friction of writing code manually used to force careful design. AI removes that friction, including the beneficial friction. The answer is not to slow AI down. It is to replace human friction with mathematical friction: let AI move fast, but make it prove its work. The new friction is productive: writing specifications and models, defining precisely what “correct” means, designing before generating.
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