SpaceX 估值超越亚马逊，比萨 hut 以 27 亿美元成交

人工智能还是片未开垦的领域，很多领导者都在没有向导的情况下摸索前行。

AI is unchartered territory, and many leaders are trying to navigate through without a guide to help them.

所以Morning Brew联合普华永道推出了新播客《智能转型》。

That's why Morning Brew created The Intelligence Shift, a new podcast with PwC.

这档节目深入探讨人工智能如何从根本上改变各个行业。

It's all about how AI is fundamentally changing different industries.

主持人丹·普里斯特邀请了多位行业顶尖领袖，分享他们真实的经历和宝贵经验。

Host Dan Priest is joined by a top tier roster of industry leaders who share real stories and real lessons learned.

向行业专家汲取实用建议。

Get guidance from industry experts.

无论你在哪个平台听播客，都别错过《智能转型》。

Listen to the intelligence shift wherever you get your podcasts.

早上好，Brew每日秀。

Good morning, Brew Daily Show.

我是尼尔·弗莱曼。

I'm Neil Fryman.

我是凯尔·哈吉。

And I'm Kyle Hagee.

今天，SpaceX的估值已经超过亚马逊了。

Today, SpaceX is now worth more than Amazon.

那冷冻酸奶回来没？

And is Froyo back?

今天是6月17日，星期三。

It's Wednesday, June 17.

咱们开始吧。

Let's ride.

我们失去了托比，但迎来了凯尔。

We lost Toby, y'all, but gained a Kyle.

托比这周在欧洲参加婚礼。

Toby is in Europe at a wedding for the remainder of the week.

我很高兴能有今年的六人之选凯尔·哈吉来替他坐镇。

But I'm overjoyed to be joined by six man of the year, Kyle Hagee, who's filling in.

Kyle，你看到这个了吗？

And Kyle, did you see this?

波士顿的啤酒快卖断货了，全是因为一群苏格兰足球迷，人称‘塔尔坦军’。

Boston is running out of beer, all because of Scottish soccer fans known as the Tartan Army.

成千上万的苏格兰人涌到波士顿，为他们的球队在世界杯上的比赛加油，可他们还没进球场，就已经在城里各家酒吧喝了个遍。

Thousands of Scotts have descended on Boston to cheer on their team in the World Cup, but not before they toss back a few pints around the city's pubs.

不止是喝了几杯，是喝得不少。

Well, more than a few.

萨姆·亚当斯公司说，他们波士顿的酒馆上周末把本地拉格啤酒全卖光了，都是因为这些苏格兰球迷，他们喝掉的量是平时像独立日这种假期的四倍多。

Sam Adams said its Boston taproom ran out of Boston lager over the weekend thanks to the Scotts, adding that the Tartan Army drank more than four times as much as it normally sells during a typical holiday weekend like July 4.

downtown 的亨内西酒吧，圣帕特里克节的销量直接翻了三倍，连一种啤酒都卖断货了。

Over at Hennessy's bar downtown, they tripled their Saint Patrick's Day sales and sold out a beer.

与此同时，联邦酒类专卖店告诉《波士顿环球报》，他们家的百威和科罗娜全被扫空了，其中一个冰箱的门都因为反复开关太多次给弄坏了。

Meanwhile, Federal Wine and Spirits told the Boston Globe that they got cleaned out of Bud and Corona and the door to one of their refrigerators broke because they were opening and closing it so many times.

Kyle，真像大家说的那样，没有苏格兰人，就没派对。

Kyle, it do be like they say, no Scotland, no party.

确实如此。

That that is true.

我的意思是，我现在可是铁杆支持苏格兰球迷了。

I mean, look, I'm a massive fan of the Tartan Army now.

以前我对苏格兰队的比赛不太了解。

Scotland, I wasn't familiar with your game.

表现太出色了。

Incredible work.

他们从爱尔兰人地盘杀出来，把波士顿的球迷都压下去了。

And they kinda came out of the Irish home turf and outrank them of of Boston.

我得说个特别有趣的事。

I will say very fun story.

看到欧洲球迷来到美国，尽情享受世界杯，真的特别有意思。

The World Cup content of Europeans coming to America and just enjoying the heck out of it has been so fun to watch.

我觉得这正是大家想看的内容。

I think it's the content everyone wants to see.

给苏格兰点个赞。

Shout out to Scotland.

接下来是我们的赞助商ServiceNow的广告。

And now a word from our sponsor, ServiceNow.

尼尔，我真的受够了做作业。

Neil, I am so sick of having homework.

你早就毕业好多年了。

You haven't been in school for years.

是啊。

Yeah.

可我觉得，现在对付AI就像在做作业——它本该替我处理那些我讨厌的工作，结果却只会把问题再跟我说一遍。

Well, it feels like I have homework dealing with AI that was supposed to handle the parts of work I hate, but just describes the problems back to me.

幸运的是，ServiceNow的AI专家可不一样。

Lucky for you, ServiceNow's AI specialists are different.

他们不是什么工具。

They aren't a tool.

把他们当成能真正干活的数字伙伴。

Think of them as digital teammates who can actually do the work.

他们能处理工单、响应请求、闭环任务，还不给你添新活儿。

They can resolve cases, process requests, close loops without generating extra work for you.

当你真能把工作交给AI时，你就能回归那些只有人才能做的事——需要创意、判断力，还有，活人的感觉。

When you can truly delegate to AI, you can get back to the work only you can do the work that requires a person with ideas and judgment and, you know, a pulse.

想让AI为你所用，访问 servicenow.com。

To put AI to work for people, visit servicenow.com.

网址是 servicenow.com。

That's servicenow.com.

上个周五，SpaceX完成了历史上规模最大的IPO。

Last Friday, SpaceX pulled off the biggest IPO in history.

从那以后，它的规模还在继续扩大。

Since then, it's only gotten bigger.

大得多。

Much bigger.

埃隆·马斯克的火箭与人工智能巨头在股市一飞冲天，昨天又涨了5%，一举超越亚马逊，成为全球第五大公司。

Elon Musk's rocket and AI giant has blasted off on the stock market, climbing another 5% yesterday to topple Amazon as the fifth biggest company in the world.

SpaceX目前估值高达2.65万亿美元，自上市以来飙升了49%，正紧追排名第四的微软。

SpaceX is now worth $2,650,000,000,000, surging 49% since its public listing and staring down Microsoft at number four on the list.

在职业生涯中，埃隆的种种举动总是让人瞠目结舌，无论好坏，这次或许是他最不可思议的成就。

In a career that's left people's jaws on the floor for good and bad, this might be Elon's most gravity defying accomplishment yet.

与此同时，它的市值还在一路飙升。

At the same time it's climbing up the charts.

为了证明自己那令人咋舌的估值并非虚高，SpaceX正在积极出手，全力赚钱。

SpaceX is making aggressive moves to ensure it's bringing in the money to justify its questionably gigantic valuation.

昨天，它以600亿美元的天价收购了AI编程初创公司Cursor。

Yesterday, it agreed to take over Cursor, an AI coding startup in a deal valued at $60,000,000,000.

早在今年四月SpaceX上市前，它就和Cursor达成了一项特殊协议，获得了年内收购该公司的权利。

Before SpaceX's IPO in April, it signed an unusual arrangement with Cursor that gave it the right to buy the startup later in the year.

上市才四天，埃隆就果断出手了。

All it took was four days after the IPO for Elon to pounce.

Cursor 对 SpaceX 的人工智能布局来说是个重大收获，别忘了，这家公司不光送火箭上天，还立志成为人工智能领域的主导力量。

Cursor is a big get for SpaceX's AI ambitions because remember, not only does this company send rockets to space, but it also aims to become the dominant force in artificial intelligence.

Cursor 由四位年仅25岁的麻省理工毕业生创立，是历史上增长最快的初创公司之一，正处于AI最成功的商业应用场景——‘氛围编程’的核心位置。

Cursor, founded by four MIT grads, all 25 years old, is one of the fastest growing startups in history and sits at the heart of perhaps the most commercially successful use case for AI, vibe coding.

凯尔，这支股票，至少目前来看，是要冲上天了。

Kyle, this stock, at least for now, is going to the moon.

没错，确实如此。

Yes, it is.

给那群25岁就拿到六百亿估值的Cursor团队点个赞。

And shout out to the cursor people being 25 with $60,000,000,000.

我都33岁了，还在和人一起主持播客。

I'm I'm 33, but I'm co hosting a podcast.

所以我们俩其实也差不了多少。

So we're we're pretty close.

关于SpaceX，外界对它的估值一直议论纷纷，觉得它凭什么值这么多钱。

Like there's been so much hype about SpaceX in particular, how it could have the valuation it has.

你刚才说它是美国市值第五大的公司。

You said fifth largest company by market cap in The United States.

不过要说明一下，它的收入比周围这些巨头要低不少。

And just to level set, it does bring in a lot less revenue than these mega cap peers around it.

这家公司2025年的收入是187亿美元。

The company brought in 18,700,000,000 in revenue in 2025.

你看看微软的收入，2817亿美元。

If you look at Microsoft's revenue, 281.7.

亚马逊的收入，7170亿美元。

Amazon's revenue Billions.

是的。

Yeah.

抱歉，我说的是2817亿美元。

So sorry, 281,700,000,000.

亚马逊是7170亿美元。

Amazon, 717,000,000,000.

这让人特别想不通，怎么可能会有这么高的估值？

And so this tends to get people very worked up who say, how can it justify this valuation?

但如果你看看埃隆过去推动股价上涨的记录，恐怕世界上再难找到比他更擅长让数字一路飙升的人了。

But if you look at Elon's track record of delivering stock market growth, there might not be a better person on the planet to make numbers go up into the right than Elon.

我觉得这其实是赌埃隆能把股价推得更高，同时也赌SpaceX和太空产业的未来会越来越重要。

I think this is a bet on Elon's ability to drive the stock even higher, and also the future of SpaceX and space becoming even more important.

他们在这一行几乎是垄断地位。

They kind of dominate that market.

所以现在股价能涨到这个水平，原因就在这儿。

I think that's why you're seeing the price be as high as it is right now.

而且个人投资者的热情也高得离谱。

There's also just insane enthusiasm from individual investors.

有些数据真的让人震惊——像你我这样的普通散户，居然这么疯狂地砸钱买这只股票。

Some of these numbers are just truly mind blowing about how individual investors are retail investors like you and me and just regular non professional people are spending money on this stock.

金融平台Public就提到，SpaceX股票的交易量比第二名高出533%。

So public, which is financial platform, said that SpaceX stock buying was 533% above the second most traded stock.

过去两个交易日里，散户买入的SpaceX股票总量，几乎跟上周整个美国股市的散户买入总额一样多。

We're seeing that retail investors have bought almost as much SpaceX over the last two trading sessions as they bought across the entire US stock market last week.

也就是说，现在散户的投资热情主要分成了两块：一块是普通股市，另一块就是SpaceX，两者的热度已经不相上下了。

So they're buying basically, there's the stock market that people are buying into and then there's SpaceX and those levels are equivalent in terms of retail investors.

他们完全是冲着埃隆去的，而他最近的一系列动作，比如收购Cursor，未来可能会带来更多收入，从而让现在的高估值变得合理。

They're just putting their faith in Elon and he's making moves like buying Cursor that could eventually bring in more revenue to eventually maybe justify this valuation.

没错。

That's right.

上周末我去参加婚礼，有个来自新泽西的叔叔居然在聊SpaceX的IPO。

I mean, was I was at a wedding over the weekend and I had a New Jersey uncle telling talking about the SpaceX IPO.

他一说起自己的股票就特别兴奋，再加上投资门槛越来越低，现在散户纷纷涌入，把股价推到了远超同行营收水平的高位。

Like he gets everyone excited about his stock and with the democratization of investing, we're seeing retail investors pile in and drive this stock to, you know, incredibly high numbers compared to the revenue of its peers.

我觉得收购Cursor对SpaceX来说也是步妙棋，正好借着IPO的热度，拿下一家能帮他们加速布局AI领域的公司。

I think the Cursor deal is also a really great move for SpaceX, basically leveraging this pop in the IPO to acquire a company that helps them continue to or start to dominate more in the AI space.

如果回看Cursor的发展，他们自己说过，公司最大的瓶颈就是算力资源不足。

If you look at Cursor going back, they said one of their issues was, or their bottleneck for the company was access to compute.

有了XAI和SpaceX，埃隆手上有大量的算力可以提供给Cursor，我觉得这让他们不必去跟Anthropic和OpenAI抢模型层的市场，而是专注在算力和编程工具上——说不定这才是AI领域真正的赚钱地方。

With XAI and SpaceX, they Elon has a ton of compute to give to Cursor, and I think it allows them not to go after necessarily the model layer of where Anthropic and OpenAI are dominating, but compute and coding tools which maybe are where the actual money is in AI.

用IPO的契机收购这家公司，我觉得真是一步好棋。

So using the IPO to get this company I think was a really good move.

这对未来的IPO也可能是件好事。

It also is probably promising for future IPOs.

我打赌OpenAI和Anthropic一直在密切关注这件事。

I bet OpenAI and Anthropic were watching this very closely.

他们今年晚些时候就要上市了，看到SpaceX的IPO表现，估计心里挺有底的。

They're expected to IPO later this year and, you know, based on the SpaceX IPO, they're probably feeling pretty good.

尼尔，那是2001年，你所在的少年棒球队刚刚赢下了镇上冠军赛。

Neil, the year is 2001, your Little League Baseball team just won the town championship.

你身边是队友们，眼前是这辈子见过最大的一片意大利辣香肠披萨，头顶上是一盏灯，照着红白格子的桌布。

You're surrounded by your teammates, the largest slice of pepperoni pizza you've ever seen, and that red and white checkered table cloth with a cool lamp above your head.

那一刻感觉像天堂，但你知道，这个地方其实叫必胜客。

It feels like heaven, but you know this place by another name, Pizza Hut.

现在快进到2026年，必胜客的情况已经大不一样了。

Now fast forward to 2026, well things have changed for the Hut.

过去两年，它在美国的销售额一直在下滑。

Its US sales have fallen for roughly the past two years.

今年预计要关闭大约250家表现不佳的门店，而最能说明这个品牌急需翻身的信号，就是它现在被卖给了私募股权公司。

It's expected to close around 250 underperforming US units this year, and with the ultimate sign of a beat up brand in need of rejuvenation, it's now being sold to private equity.

没错。

That's right.

周二，百胜中国旗下的母公司Yum Brands宣布，已同意将必胜客出售给两家公司，总交易估值达27亿美元。

On Tuesday, Yum Brands, whose portfolio also includes the likes of KFC and Taco Bell, said it had to agree to sell Pizza Hut to two companies in a combined deal valued at $2,700,000,000.

美国以及全球其他地区（不包括中国大陆）的门店，将由私募股权公司Long Range Capital以15亿美元收购。

The restaurants in The United States and around the world, excluding Mainland China, will be acquired by private equity firm, Long Range Capital for 1,500,000,000.

而独立运营的百胜中国则以12亿美元收购必胜客在中国大陆的门店。

Yum China, a separate entity will acquire Pizza Hut's restaurants in Mainland China for 1,200,000,000.

在美国，必胜客是仅次于达美乐的第二大披萨连锁品牌，目前拥有约6300家门店，去年国内销售额达51亿美元。

In The US, Pizza Hut is the second largest pizza restaurant operator behind Domino's with about 6,300 stores and 5,100,000,000 in domestic sales last year.

不过，这背后是美国披萨连锁店整体增长停滞的现状——去年销售额相比2024年下降了0.3%，根据市场研究公司Technomic的数据，披萨是这十大餐饮品类中唯一出现下滑的类别。

However, this is amidst a backdrop of stalled growth among US pizza chains, where sales fell point 3% last year compared with twenty twenty four levels, making pizza the only food category to register a decline during the period among the 10 tracked according to market research firm Technomic.

尼尔，私募股权能帮必胜客重振昔日辉煌吗？

Neil, will PE be able to return Pizza Hut to its former glory?

你觉得七年之后，这品牌会不会又被转手卖给别的公司？

Do we think this gets dumped to another firm in seven years?

这路肯定不好走。

It's gonna be an uphill climb for sure.

你说现在大家吃披萨越来越少，整个市场都在缩水，当然我不是在玩文字游戏。

I mean, you said people people are eating less pizza in general and the so the pie is shrinking, no pun intended.

而必胜客在其中的份额也在萎缩，它在Yum品牌组合里，一直就是那个被冷落的‘丑小鸭’，在被甩掉之前就是如此。

And the and for Pizza Hut share of that pie, it's also shrinking just this is the ugly duckling in the Yum portfolio or was before they dumped it.

六年前，它还占Yum品牌总收入的18%。

Six years ago, they had an 18% share of the revenue of all of Yum Brands.

但到了2025年，这个数字已经跌到了12%。

But then fast forward to 2025, that was down to 12.

Yum Brands当年从百事分拆出来，带着这些快餐品牌时，就把比萨屋的策略从主打堂食转向了外带和外卖配送，而这正是整个比萨行业当时的发展方向。

Yum Brands, when it spun out of Pepsi with these fast food companies, changed Pizza Hut strategy from a place that you mostly dine in to carryout and takeout, which and delivery, which is what where the pizza industry was doing.

但自从多米诺在2017年超越比萨屋，成为头号比萨连锁品牌后，就一路遥遥领先，彻底主导了这个市场。

But it's been completely dominated in that space since from Domino's, which took over the role of number one pizza chain in 2017 and has just zoomed by Pizza Hut in the years since.

没错。

That's right.

如果你回想一下以前的外卖，那时候人们会觉得，哦，点个披萨送上门，挺自然的。

And I think if you think about delivery in general, it used to be like, oh, yeah, you would you would get pizza delivered.

那种感觉很顺理成章。

That felt very natural.

但现在有了Uber Eats、DoorDash、Grubhub这些平台，几乎什么东西都能送上门，外卖竞争变得异常激烈。

But now you can get everything delivered with the rise of Uber Eats, DoorDash, Grubhub, and so the competition for delivery is just massive.

我觉得比萨屋正深受这些逆风影响。

And I think Pizza Hut is feeling those headwinds.

我们再聊聊收购了美国及全球（不包括中国大陆）比萨屋业务的Long Range Capital。

Let's also talk about Long Range Capital, the acquirer of Pizza Hut in The US and around the world, excluding Mainland China.

他们的投资组合还挺多元的，这么说吧。

Their portfolio is a bit diverse, let's say.

他们旗下有健身房连锁品牌二十四小时健身，还有贝茨维尔公司，专门生产棺材和骨灰盒。

They includes a gym chain, twenty four Hour Fitness, Batesville, a company that makes caskets and cremation urns as well.

所以我觉得他们是想打造一条龙服务——你吃太多披萨得去健身，最后嘛，人人都得走这最后一程。

And so I think they're trying to do a cradle to grave situation here where you eat a lot of pizza, you need the gym, and eventually we all die.

换句话说，他们几乎覆盖了你的一生，尼尔。

I mean, they they kind of have your whole life, Neil.

我现在都觉得自己在一家披萨屋兼殡仪馆里。

I'm at the I'm at the combination Pizza Hut funeral home.

我的意思是，这些业务之间的协同效应太明显了。

I mean, the synergies are are very clear to me.

咱们看看他们接下来会怎么经营披萨屋吧。

We'll see what they do with Pizza Hut.

我们之前在节目里聊过，披萨屋现在在搞怀旧风。

We've talked on the show about how Pizza Hut is doing some retro stuff.

有些加盟商确实把部分门店的设计重新改回了你刚才说的那种老式必胜客风格。

Some of the franchisees have really reverted some of the design in in some of their locations to those to the Pizza Hut's of your that you were talking about.

但我怀疑光靠这一招，能不能应对整个披萨行业眼下面临的更大挑战。

But I'm not sure that's going be enough to face these more broader challenges that the pizza industry is facing in general.

没错。

That's right.

而且，私募股权在快餐行业整体上也正面临不少难题。

And also private equity in fast food in general, definitely facing some challenges as well.

这几年这个领域确实经历了一波热潮。

There's been kind of a boom in this area.

最近几年，私募基金收购了赛百味、多纳圈、杰里米克等连锁品牌，想帮它们拓展全球业务，同时也像典型的私募操作那样，整合后台运营。

Private equity firms in recent years have acquired Subway, Dunkin, Jersey Mike's, other chains, trying to help them grow globally, but also trying to combine back end operations as private equity normally does.

百乐门被私募公司JAB控股收购了。

Panera was acquired by a private equity firm, JAB Holdings.

他们原本打算让百乐门上市。

They wanted to IPO it.

没走到那一步，所以现在他们又回头问：我们该怎么让这个品牌自然成长？

It didn't get to that point, and so now they're going back and saying, okay, how do we actually grow this brand organically?

这确实是个很难做的领域。

So it is a really tough space.

我们看看长期资本能不能搞定。

We'll see if long range capital can pull it off.

我们接着聊。

Let's move on.

昨晚，梅西开启了他为阿根廷出战世界杯的最后征程。

Lionel Messi began his final campaign for Argentina in the World Cup last night.

如果你还对梅西是不是历史最佳有疑问，那他昨晚上演帽子戏法，帮助阿根廷3比0击败阿尔及利亚，直接打消了所有怀疑。

And if you still had any doubt that Messi is the GOAT, well, dropped a hat trick to remind everyone he still has it with Argentina defeating Algeria three two zero.

梅西球技好，这谁都不觉得意外。

Now Messi being good at soccer is not surprising at all.

但让人纳闷的是，他这场比赛居然是在堪萨斯城踢的。

However, it's where Messi took the pitch that have some people scratching their heads, and that's Kansas City.

没错。

That's right.

堪萨斯城，美国第三十一大都市区，正把自己打造成美国足球的圣地。

Kansas City, only the thirty first largest metro in The United States is positioning itself as the Mecca of soccer in The US.

为了举办这场赛事，他们投入了近两亿美元的公共资金，其中包括四千万美元用于翻新酋长队的箭头体育场，以满足国际足联的场地标准。

Investing nearly $200,000,000 in public spending required to stage the tournament, including $40,000,000 to renovate the Chiefs home of Arrowhead Stadium to meet FIFA's pitch requirements.

但这还不只是今年的事。

And it's not just this year.

回看过去十五年，这一地区在足球设施上的总投资已达到约六亿五千万美元，延续了酋长队已故老板拉马尔·亨特对美国职业足球的大力推动。

Zooming out over the past fifteen years, the region has invested approximately $650,000,000 into soccer facilities, building on efforts of the Kansas City Chiefs late owner Lamar Hunt, who is a massive advocate of US professional soccer.

这些努力已经带来了成效——从人才角度看，阿根廷、英格兰、荷兰和阿尔及利亚四支国家队都选择在这里设立世界杯训练营。

Now, these efforts have paid off from a talent perspective, attracting four national teams, Argentina, England, The Netherlands, and Algeria to establish World Cup training camps in the area.

但投资的回报率还有待验证。

But the financial ROI still needs to be proved out.

堪萨斯城希望吸引六十五万游客，并从本届世界杯中创造约六亿五千三百万美元的经济收益。

Kansas City is hoping to host 650,000 visitors and generate an estimated $653,000,000 in economic impact from this World Cup.

尼尔，以前我总得硬塞个中西部的梗进去，现在好了，堪萨斯城一出，中西部直接成主角了。

Neil, normally I have to shoehorn a Midwest reference into the show, but now with Kansas City, the Midwest is the headline.

这不正好送上门来了嘛。

It just fell in your lap.

挺有意思的是，每个第一次见到凯尔的人，都会遇到这种情况。

Funny how that works for everyone who's just meeting Kyle for the first time.

他可是个地地道道的明尼苏达小子。

He's a proud Minnesota boy.

没错。

That's right.

这策略真有意思。

It's a fascinating strategy.

你要是往东北方向开五百英里，看看芝加哥，人家压根儿就不想办世界杯比赛。

So because if you go about 500 miles to the Northeast and look at a city like Chicago, Chicago said it did not want to host any World Cup games.

前市长拉姆·伊曼纽尔直接把芝加哥从申办名单里撤了，说纳税人风险太大。

The former mayor Rahm Emanuel took Chicago's name out of the running for being a host city because he said there's too much taxpayer risk.

我看了看账面上的最终数字，我的资产负债表，实在没看出把几亿美元投在基础设施上、把城市准备好能有什么回报。

I'm looking at the bottom line, my balance sheet here, and I'm just not seeing an ROI from pouring hundreds of millions of dollars into infrastructure and getting our city ready.

我觉得这根本赚不回来。

I don't see that this is gonna pay off.

再看看堪萨斯城，他们完全走的是另一条路。

Then you go to Kansas City where they are just completely taking the opposite tack.

市长马克·多诺万承认，从财务角度看，如果你拿这个案例去做哈佛商学院的分析，光看纸面数据，这确实不合算。

The chief's president Mark Donovan said he acknowledged this financially, quote, if you do a Harvard Business School case study, if you look at this just on paper, this doesn't make sense.

但如果你看它对社区带来的影响，打下的基础，以及未来可能带来的指数级收益，那就完全说得通了。

But if you look at the impact it has on the community, the footing that it puts on, and the exponential benefits in the future of doing this successfully, it made perfect sense.

之前一直有讨论，城市该不该用纳税人的钱建新体育馆、搞体育项目这类事。

And there's been a lot of discussion about whether cities and locations should be spending taxpayer money on new arenas and and sports and things like that.

我觉得，这至少算是一种间接的认可。

You know, I think we saw maybe an endorsement of that strategy.

也许从纯财务回报来看不划算，但至少在纽约，过去这几周我们看到，一支球队表现优异，真能让一座城市凝聚起来，提升它在全国乃至全球的知名度。

Maybe it doesn't pay off from a from a financial ROI perspective, that at least in New York, over the past couple of days and weeks, we've seen how a city can maybe come together and raise its profile on a national and global stage because of a sports team doing good.

纽约其实并不需要这个，但堪萨斯城可能需要，毕竟当梅西在那里连进三球时，人们会惊讶地说：‘堪萨斯城？这地方还挺值得去一趟的。’

Not that New York actually needed that, but perhaps Kansas City might because when you have Messi in there scoring three goals, people are like, wow, Kansas City, maybe that's a place I want to visit.

他们就是指望这个。

That's what they're banking on.

对。

Yeah.

我的意思是，他们指望这六十五万游客前来体验，显然会给当地带来巨大的经济带动效应，还希望他们回去后跟朋友分享，再回来，为堪萨斯城制造更多话题。

Mean, I think they're banking on those 650,000 visitors checking out, obviously driving a lot of economic impact for the area, and then hopefully telling their friends, coming back, driving a lot of buzz for Kansas City.

不过，专注于某个特定领域也是一个很有效的策略。

But also, think focusing on a particular niche is an effective strategy too.

在美國，足球领域还留有空白，堪萨斯城如果能主导这个市场，会是一个非常前瞻的明智之举。

Dominating soccer, which is kind of up for grabs in The US could be a really smart forward looking move for Kansas City.

你之前提到的马克·多诺万说，只要看看这件事对社区带来的影响，就能发现它的回报率其实非常高。

The Mark Donovan, who you quoted earlier, said like, if you look at this impact it has on the community, it's also really positive ROI.

大家都为此感到非常兴奋。

People get very excited about it.

所以我们得看看，未来从财务角度看，这个投资回报会不会变得更实在一些。

So we'll see if that ROI, you know, becomes a little more tangible in the future from a financial perspective.

我还想提一下堪萨斯州的劳伦斯市，他们正在接待阿尔及利亚队。

I also want to call out the city of Lawrence, Kansas, who is hosting Algeria.

我听说了‘Rock Chalk Algeria’这句话，真没想到有生之年能听到。

I have heard the quote Rock Chalk Algeria, which I never thought I would hear.

他们完全接纳了这支球队，我觉得这也是世界杯如此特别的原因。

They have fully embraced this team, and I think that is also what makes the World Cup so special.

阿尔及利亚的国旗被画在了训练基地的地面上。

The Algerian flag is painted on the ground in the training facility.

‘Johnny Johnny Taverns’酒吧的老板里克·伦弗鲁说：‘当我遇到其他国家的人时，我们聊的都是同样的事情。’

A sports bar owner of Johnny Johnny Taverns, Rick Renfroe, said quote, When I meet people from other countries, we talk about the exact same things.

你喜欢喝什么啤酒？

What kind of beer do you like to drink?

你有几个孩子？

How many kids do you have?

你最小的孩子现在做什么呢？

What does your youngest do?

我们都是普通人，只想好好照顾家人。

We're all regular people who wanna take care of our families.

我觉得，现在比以往任何时候都更需要不同文化聚在一起庆祝，特别要点赞堪萨斯城做到了这一点。

I think now more than ever, cultures coming together and celebrating is exactly what we need and and shout out to Kansas City for doing that.

好的。

Alright.

接下来，我们聊聊冷冻酸奶的复兴。

Coming up, we unpack the Froyo Renaissance.

尼尔，我想跟你分享一件我特别喜欢的事。

Neil, I want to tell you about something I personally love very much.

是我吗？你的朋友和联合主持人？

Is it me, your good friend and cohost?

不是。

No.

不是我的同事兼节目搭档。

It's not my work friend and cohost.

是Spectrum Business，它为各种规模的企业提供快速稳定的互联网、高级Wi-Fi、电话、电视和移动服务，全部由美国本土团队支持。

It's Spectrum Business, which keeps businesses of all sizes connected seamlessly with fast, reliable Internet, advanced WiFi, phone, TV, and mobile services, all backed by 100% US based support.

Spectrum Business提供量身定制的网络解决方案，套餐设计贴合您的业务预算。

Spectrum Business offers tailored connectivity solutions with packages built for your business budget.

事实上，数百万企业主都依赖Spectrum Business来保持连接。

In fact, millions of business owners rely on Spectrum Business to keep them connected.

无论您的企业规模大小，都请访问spectrum.com/business了解更多信息。

So whether your business is big or small, visit spectrum.com/business to learn more.

访问spectrum.com/business即可了解详情。

That's spectrum.com/business.

具体条款可能适用。

Restrictions apply.

服务并非在所有地区均可提供。

Services not available in all areas.

我正在给父亲节挑礼物，实在受够了每年送那些老掉牙的领带和杯子。

I'm shopping for Father's Day gifts, and I'm sick of giving the same old boring ties and mugs every year.

今年你打算送什么，托比？

What are you gifting this year, Toby?

我打算送我爸一套Viori的产品。

I'm treating my dad to Viori.

不管他是在球场上、机场里，还是在家院子里放松，Viori的日常用品都能让他时刻保持最佳状态。

Whether he's on the fairway, at the airport, or kicking back in the yard, Viori's everyday staples are designed to keep him looking and feeling his best.

有了Viori的运动必备品和旅行穿搭单品，你一站式就能给他来个焕然一新的礼物。

With Viori's fitness go to's performance essentials and travel ready layers, you can give them an adventure ready makeover in one place.

去fiori.com/mbdaily下单，首单立减20%。

Get 20% off your first order at fiori.com/mbdaily.

网址是fiori.com/mbdaily。

That's fiori.com/mbdaily.

部分商品不参与活动。

Exclusions apply.

完整条款和条件请访问官网查看。

Visit the website for full terms and conditions.

你有没有想过，每天这么早开工，对身体到底有什么影响？

Have you ever thought about what all these early morning call times are doing to our body?

说实话，没想过。

Honestly, no.

但我发现了一个简单又好吃的健康小妙招。

But that's because I've found a wellness hack that's easy and delicious.

不是那种果冻维生素。

And no, it's not another gummy vitamin.

是Blueprint的长寿配方。

It's the longevity mix from Blueprint.

科学背书，精准剂量，绝不忽悠。

Science back, precision dose, no BS.

限时优惠，我们的听众通过代码MBDS在blueprint.brianjohnson.com下单，立享八折外加包邮。

For a limited time only, our listeners get 20% off plus free shipping at blueprint.brianjohnson.com by using code MBDS at checkout.

在 blueprint.brianjohnson.com 使用代码 MBDS，立享八折优惠。

That's code MBDS at blueprint.brianjohnson.com for 20% off.

下单后，他们会问你是从哪里了解到他们的。

After you purchase, they will ask you where you heard about them.

请支持我们的节目，告诉他们是你从我们这里知道的。

Please support our show and tell them our show sent you.

夏天的傍晚，走在曼哈顿、洛杉矶或迈阿密的街头，看到年轻人排着超长的队买冷冻酸奶，一点都不稀奇。

Walk around Manhattan, Los Angeles, or Miami any summer evening, and it won't be unusual to see young people waiting in outrageously long lines for frozen yogurt.

是的。

Yep.

这种顺滑、或许更健康的甜点，经过多年沉寂后强势回归，背后是新一批门店、社交媒体和一群狂热的 Z 世代粉丝推动的。

The creamy, maybe better for you sweet treat is so back after years of dormancy fueled by a new cohort of stores, social media, and a rabid Gen Z fan base.

Mimi's、Birdies、Mika 和 Mythos 这些新兴的酸奶店，每天都被顾客挤爆，大家都想要一款色彩鲜艳、适合发 Instagram 的特调酸奶。

Mimi's, Birdies, Mika, and Mythos are a few of the insurgent froyo shops that have been slammed by customers demanding a colorful concoction they can post on Instagram.

就在最近一个酷热的周六中午，一位《纽约时报》的记者去西村的 Mika 排队，发现前面还有七十四个人。

On one recent sweltering Saturday, a New York Times writer counted 74 people waiting in line ahead of her at Mika in the West Village at noon.

这可不是随便说说的。

It's not just anecdotal.

冷冻酸奶的销量确实在猛增。

Sales for frozen yogurt really are booming.

根据Circana的数据，截至今年三月，美国的冷冻酸奶销量一年内飙升了26%。

In The US, servings of frozen yogurt spiked 26% in the year through March according to Circana.

去年，全美新开了一百二十九家冷冻酸奶店，比前一年增长了五成。

And last year, 129 new frozen yogurt shops opened up in the country, a 50% bump from the prior year.

冷冻酸奶的复兴背后有多个原因：比如人们觉得它更健康，通胀高企下大家更愿意为这种小奢侈买单，当然还有刷到爆款视频后产生的错失恐惧。

A number of factors are driving Froyo's renaissance, including the perceived health benefits of the dessert, greater interest in so called affordable indulgences in this era of high inflation, and of course, FOMO after seeing a viral video.

凯尔，2026年你会去排队买冷冻酸奶吗？

Kyle, you waiting in line for frozen yogurt in 2026?

我还没去过，但听你这么一说，我真有点想试试了。

I haven't yet, but this story kinda makes me wanna go try it.

说真的，谁想出把‘frozen yogurt’缩成‘fro yo’的？这让我想起《社交网络》里贾斯汀·汀布莱克那个梗，他说：‘frozen yogurt’，把‘zen’和‘gurt’砍掉就行。

I have to say whoever came up with frozen yogurt dropping to fro yo, like, I feel like it's like the Justin Timberlake meme from the social network where he's like, frozen yogurt, drop the zen and gurt.

就叫Froyo吧。

Just go with Froyo.

听起来更酷。

It's it's cooler.

这品牌重塑真绝了。

Like, what a rebrand.

每隔十年到十五年，冷冻酸奶就会卷土重来，尼尔。

I'll say every ten to fifteen years, the Freonassance happens, Neil.

每次到了这个时候，大家都会像闹钟一样突然对Froyo疯狂起来。

Like everyone gets so excited about Froyo like clockwork.

这次有意思的是，推动它的是Z世代，部分原因是他们追求更健康的生活方式，或者至少觉得这样更健康，再加上现在人喝酒少了。

What's interesting this time around is it's being driven by Gen Z and I think partly because of healthier lifestyles or the perception of healthier lifestyles, but also people are drinking less alcohol.

感觉他们去酒吧的次数变少了。

It feels like they're going out to bars less.

于是Froyo就成了第三个空间，正好满足了Z世代对健康选择的需求。

And this becomes maybe a third space which meets the demands of Gen Z to be a healthier option.

而且我觉得这些地方的设计非常有讲究。

Also, I think the design of these places is very intentional.

一家冻酸奶店的老板说，这地方特别适合拍照。

The the owner of one of the Froyo places was saying like, it's ideal for taking photos.

这正是我们想要的。

That's exactly what we want.

我们希望人们在Instagram上分享。

We want people to spread it on Instagram.

这样才能让西村和苏豪区的店排起长队。

That's how you get lines down the West Village in Soho.

这真是个高明的策略。

And so a really good strategy.

霍华德·舒尔茨也在为这家公司提供建议，他说这跟星巴克卖咖啡一模一样。

Howard Schultz is actually advising this company as well, and he said it's just like Starbucks and coffee.

他们做的其实是大宗商品生意。

They're in the commodity business.

这东西谁都能做，所以你得有个特别的亮点，才能把人吸引到店里来。

This is something that anyone can make, And so you have to have this extra it factor to drive people to their stores.

我觉得他们确实很注重这一点，而且明显做得相当不错。

And I think they're really focusing on that, and clearly they're they're pulling it off quite well.

酸奶冰淇淋比冰淇淋更健康吗？

Is Froyo healthier than ice cream?

我真希望你说的是对的。

Is it I wanna believe you.

别跟我们说这些。

Don't tell us.

最好还是去查一查，弄清楚真相。

One should probably ask and find out the answer too.

一般来说，它的热量和饱和脂肪确实比冰淇淋低。

So typically, it does have fewer calories and less saturated fat than ice cream.

不过为了中和酸味，它通常添加了更多的糖。

However, it does have more added sugars to balance out the tartness.

不过要是加了各种配料的话，那热量可就高了。

But if you do the toppings It's

看来关键全在配料上啊。

all about the toppings then

这样算下来，热量说不定比冰淇淋还高呢。

you have more calories potentially than ice cream.

所以呢，营养师建议，如果想通过酸奶补充益生菌、改善肠道健康，直接吃普通酸奶就行，别吃冷冻酸奶，那玩意儿糖分实在太高了。

So yes, if you want the probiotic gut health benefits of yogurt, nutritionists say just just have yogurt, not not frozen yogurt, which is essentially a lot a lot of sugar.

所以我只是把这些信息摆出来给大家参考。

So that's just I'm just laying out the information there.

至于你们怎么想都行，要是还愿意排队买冻酸奶，那也没问题。

You can take it what you want if you wanna still wait in line for for frozen yogurt.

要知道，现在买冰淇淋照样得排长队。

Know there's still long lines for ice cream.

我个人觉得，冻酸奶也就那样吧，而且很多店其实也没那么高大上。

Personally, I mean I think frozen yogurt's okay, but there's a bunch of bunch of places that aren't necessarily the fancy ones.

我的意思是，这里有人花三十美元买冷冻酸奶。

I mean, people are playing up to $30 for frozen yogurt here.

就拿三个配料来说，就要十四美元了。

I mean, with three toppings, they it costs $14.

配料加得越多，价格越高，卡路里也越多。

So more toppings you get, the the higher the price tag, the more calories.

我不是要扫大家的兴。

I'm not trying to yuck anyone's yum.

听起来确实很诱人，但我得为冰淇淋说句话。

That all sounds extremely delicious, but I'm I have to go to bat for ice cream here.

嗯，我喜欢冰淇淋，但尼尔，我不是营养师，不过大家都知道，配料不算热量。

Well, I mean, I I'm a fan of ice cream, but Neil, I'm I'm not a nutritionist, but everyone knows toppings don't count for calories.

咱们赶紧收个尾，来点最后的新闻摘要。

Let's sprint to the finish with some final headlines.

Snap公司，也就是Snapchat的母公司，昨天发布了他们期待已久的增强现实眼镜，名叫Specs，希望能在智能手机时代之后成为重要的硬件玩家。

Snap, the company behind Snapchat, unveiled its long awaited augmented reality glasses yesterday called Specs, hoping to become a significant hardware player in a post smartphone world.

Snap推出眼镜可能不会让你惊讶，但这价格绝对会让你咋舌。

Snap releasing glasses may not shock you, but the price tag will.

这款眼镜售价2195美元。

Specs will cost $2,195.

这比Meta的Ray-Ban眼镜贵多了，后者最低才3.5美元，更是Snap2016年推出的Spectacles眼镜的15倍以上。

That's way above Meta's Ray Bans, which go for as little as $3.50 and more than 15 times the Spectacles glasses Snap released in 2016.

当然，这次的性能比第一代强多了。

These of course have a little more firepower than the first generation.

Snap把Specs描述为一款嵌入在透明增强现实眼镜里的可穿戴电脑，能让你玩游戏，或者让AI帮你认出你眼前看到的是啥东西。

Snap describes specs as a quote, wearable computer built into see through augmented reality glasses that allow you to do things like play games or ask an AI to identify what the heck you're looking at.

Kyle，大家都在问同一个问题。

Kyle, everyone is asking the same question.

两千多美元一台，到底谁会买？

At more than $2,000, who would buy these?

我也不太确定。

I'm not quite sure.

你开头也说了，梅多雷·班斯眼镜的价格还不到这个的十分之一。

And you you said it in your intro, you can get Meadow Ray Bans for nearly one tenth of the cost.

这个领域正变得越来越竞争激烈。

This is a space that's getting increasingly increasingly competitive.

据说苹果未来几年也会推出自己的智能眼镜。

Apple is rumored to be launching glasses or Spectacles of their own in the coming years.

所以这个市场恐怕还会更加激烈。

And so this space is probably only going to heat up a little more.

我觉得这些眼镜的价格相比竞争对手实在太高了。

I think the price tag for these compared to the competitors way too high.

感觉像是 Snapchat 在拼命找下一个突破口，而他们可能确实得这么做。

And it feels like Snapchat is just trying to find their next thing, which they might have to do.

我认可他们的创新精神。

So I I applaud the innovation.

但我个人不会去买。

I personally will not be buying them.

我们还没提到设计呢。

And we didn't even mention the design.

它们的镜框非常厚。

So they're very thick framed.

看起来像普通眼镜，但镜框特别粗，简直像护目镜一样。

They look like glasses, like semi normal glasses, but they're very thick frames like almost goggles like.

你会怎么形容这个设计？

Like how would you describe this?

对。

Yeah.

确实镜框很厚。

It's like they're they are thick framed.

也许他们是想走学者风，目标用户就是那种风格的人。

Maybe they're going for like the the professorial look that that's their target ICP.

是那样，但宽厚程度直接翻了十倍。

It's that but like times 10 in terms of the width and the bulkiness.

你一定要去看看CEO伊万·斯皮格尔戴这款眼镜的照片，我不确定这算不算官方推荐。

Definitely check out pictures of CEO Evan Spiegel wearing them because I don't know if it's necessarily an endorsement of it.

明白了。

Okay.

接下来，还有什么比把一道好好的菜油炸一遍、让它变得更美味更美国的呢？

Up next, there's nothing more American than taking a perfectly good dish than frying it to make it better.

为庆祝美国建国200周年，麦当劳时隔三十多年，重新推出油炸苹果派。

To celebrate The United States 200, McDonald's is bringing back fried apple pies for the first time in over thirty years.

这款限时供应的苹果派从6月23日开始上市，全美大部分门店都能买到。

The limited time run begins on June 23 and will be available at most US restaurants.

油炸苹果派从上世纪六十年代起就是麦当劳菜单上的经典款。

Fried apple pie has been a staple of the McDonald's menu beginning in the nineteen sixties.

但到了1992年，因为大家开始注重健康，他们就把油炸的换成烤的了。

But in 1992, the chain swapped it out for a baked crust when everyone started caring about their health and all that.

凯尔，我只希望他们用的油炸锅和薯条是同一个。

Kyle, I just hope they use the same fryer as the french fries.

哦，我也希望如此。

Oh, I I hope so too.

另外，我想重新提起或者强调一下‘半二百周年’这个词，意思是二百周年纪念。

And also, I wanna bring back the word or or emphasize the word semi quincentennial, which means the 200 birthday.

我希望能看到更多半二百周年的特别美食。

I want more semi quincentennial treats.

我们刚才还在聊必胜客。

I we were talking about Pizza Hut earlier.

我也希望他们能彻底搞个复古风。

I wanna see them go full retro as well.

我喜欢这种把经典带回来、庆祝美国生日的做法。

I I love this idea of bringing it back and and celebrating America's birthday.

最后，我们每期周三节目都会用‘建议箱’环节，由我和凯尔推荐一些有趣或实用的东西，帮你熬过一周的疲惫期。

Finally, we close out every Wednesday show with suggestion box where Kyle and I recommend something fun or helpful to help get you over the hump of

这一周。

the week.

我先来。

I'll go first.

我的推荐是给所有坐车容易晕的人。

And my rec is for all the people who get motion sickness in cars.

我知道有不少人有这样的困扰。

I know there are a lot of you.

你有没有发现苹果有个功能能帮上忙？

Did you know that Apple has a feature that can help?

我来给你介绍一下这个神奇的小点点，官方名字叫‘车辆运动提示’。

Let me introduce you to the magic dots or as they're officially known, vehicle motion cues.

这个功能两年前推出的，会在你的苹果设备屏幕上显示一堆小点，跟着车子的动向同步移动。

Introduced two years ago, vehicle motion cues puts a bunch of dots on the screen of your Apple device that moves in conjunction with the car.

车往左拐，点就往右走。

So when the car moves left, the dots go to the right.

车一加速，点就往下移。

When the car speeds up, the dots move down.