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最直观的是营销成本失控。完美日记的增长高度依赖营销投放，营销费用率常年居高不下，甚至一度超过 60%。随着小红书、抖音等平台流量成本逐年攀升，获客成本成倍上涨，烧钱换增长的模式在资本退潮、市场冷静的背景下，失去了可持续性。
。夫子对此有专业解读
He noted that tech companies are "already under that duty when it comes to terrorist material so it can be done. It's a known mechanism," adding that "we need to pursue this with the same vigour".
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