Representative heuristics are one of the methods people use to judge probabilities and valuations. During this process, people often mistakenly equate representativeness with probability. To better assist in probability judgments, the following factors should be considered: base rates, sample size, correct understanding of odds, predictability, caution against overconfidence leading to an illusion of validity in predictions, and regression to the mean.

Over the past 25 years, the rise of cloud computing, smartphones, and social media has led to rapid growth for unicorn companies. However, those tech giants still struggle to find a path to high profits. Some well-known companies have demonstrated that wealth primarily comes from: large markets, high margins, and natural monopolies; limited physical assets and light regulation.

Architecture serves the entire lifecycle of software systems, making them easy to understand, develop, test, deploy, and operate, with the goal of minimizing the human resource costs for each business use case. O'Reilly's

Habits make you do things like no brainers. Businesses that know how to cultivate customer habits have a significant competitive advantage over others. The Hook Model teaches us how to form a user habit in four steps: trigger, action, variable reward and investment.

The marketing landscapes of the West and China are vastly different. If Western marketers want to adapt, they need to learn to: build good relationships with major companies like BAT; prioritize mobile; value KOL marketing; focus on content marketing; manage multiple channels in the West while navigating large companies' multi-platforms in China; and balance "thoughtful planning" with "plans not keeping up with changes."

Architecture serves the full lifecycle of the software system to make it easy to understand, develop, test, deploy and operate. The O’Reilly book Software Architecture Patterns gives a simple but effective introduction to five fundamental architectures.

Facebook is a very profitable company with operating margins at 42%. While transiting into a privacy-centric super app, it has to face three challenges in three aspects: technology, economy and privacy & competition.

Over the past 25 years, unicorns have grown fast. Nevertheless, tech stars still do not have a path to high profits. Superstar firms have proved that wealth is made by huge markets, high profits and natural monopolies.