Agent 时代，我们需要正确的计费和工程设计哲学，这是 Xiaomi MiMo 大模型负责人罗福莉刚刚在 X 上发表的观点。 前两天，我们报道了一则消息 ——Anthropic 宣布，即日起，Claude Pro 和 Max 订阅用户，不得再将订阅额度用于 OpenClaw 等第三方 Agent 框架。想继续用？那就必须切换到按用量付费的 API。这让很多用订阅模式玩「龙虾」的 Claude 用...
Agent 时代，我们需要正确的计费和工程设计哲学，这是 Xiaomi MiMo 大模型负责人罗福莉刚刚在 X 上发表的观点。 前两天，我们报道了一则消息 ——Anthropic 宣布，即日起，Claude Pro 和 Max 订阅用户，不得再将订阅额度用于 OpenClaw 等第三方 Agent 框架。想继续用？那就必须切换到按用量付费的 API。这让很多用订阅模式玩「龙虾」的 Claude 用户瞬间懵了。 Anthropic 官方解释称，订阅制的定价模型原本是基于「个人用户正常使用强度」设计的，但 OpenClaw 这类自动化代理工具的使用强度远超预期 —— 有重度用户每月仅支付 200 刀订阅费，却消耗了价值 5000 刀的算力资源，给 Anthropic 带来巨大成本压力。 消息一出，各方反应不一，有人大呼「被背刺」，觉得订阅模式瞬间失去了吸引力；也有人拍手叫好，认为这是在清理低效使用，保护整个平台的可持续性。 无论哪种声音，核心问题都暴露了出来：现在的 token 计费模式已经很难应对挑战，我们需要更聪明、更可持续的算力使用方式。 在帖子中，罗福莉首先指出，Anthropic 的订阅制本来就是亏本在跑。 Claude Code 的订阅制是一套设计精良的算力均衡分配系统。我的判断是 —— 它大概率不赚钱，甚至可能在亏钱，除非他们的 API 利润率有 10-20 倍，但我对此存疑。第三方框架接入造成多大亏损，我没法精确计算，但我近距离看过 OpenClaw 的 context 管理 —— 写得很差。一个用户请求之内，它会触发多轮低价值的工具调用，每次都作为独立 API 请求发出，每次都携带一个很长的上下文窗口（往往超过 10 万 token）—— 即便缓存命中，也极度浪费，极端情况下还会拉高其他请求的缓存未命中率。 折算下来，每个用户请求实际触发的 API 调用次数，是 Claude Code 自身框架的好几倍。换算成 API 定价，真实成本大概是订阅价格的几十倍。这不是差距 —— 这是一个坑。 对于此次订阅用户被切断的阵痛，她认为，这次阵痛长期来看是有好处的，会倒逼工程进步。 OpenClaw、OpenCode 这类第三方框架仍然可以通过 API 调用 Claude，只是不能再搭订阅的便车了。短期内，这些 Agent 用户会很痛 —— 成本轻松跳涨几十倍。但...
India, the world’s largest urea importer, is seeking to buy about 2.5 million tons of the key crop nutrient ahead of the monsoon sowing season as the Middle East conflict disrupts domestic production, tightening availability. Indian Potash Ltd., which buys urea for the government, issued a tender on Saturday to import 1.5 million tons of urea through the country’s west coast, and the remaining vol...
India, the world’s largest urea importer, is seeking to buy about 2.5 million tons of the key crop nutrient ahead of the monsoon sowing season as the Middle East conflict disrupts domestic production, tightening availability. Indian Potash Ltd., which buys urea for the government, issued a tender on Saturday to import 1.5 million tons of urea through the country’s west coast, and the remaining volumes to come via the east coast, according to a tender document posted on the company’s website. The shipments should leave the load port by June 14. India regularly imports urea through global tenders to meet local demand. Sowing for the new crop, especially rice, corn and soybeans, is set to begin in a couple of months. The South Asian nation’s urea production relies heavily on natural gas, much of which is imported from the Middle East and used to make ammonia, a key input. However, a shortage of LNG due to the effective closure of the Strait of Hormuz forced some producers in South Asia to shut plants last month. Indian authorities are in talks with major producers and exporters of nitrogen-based and phosphatic fertilizers to secure direct supplies. The deadline for the offers is April 15, and they must remain valid through April 23, the company said. India Approaches Fertilizer Producers as Iran War Curbs Supplies Nations Race to Secure Enough Fertilizer and Prevent Food Crisis
adventtr/iStock via Getty Images A Trump family-linked investment vehicle has backed Nasdaq-listed wellness and biosecurity company XWell ( XWEL ) in a deal aimed at rolling out AI-powered infectious disease screening at U.S. airports during the June 2026 football World Cup, the Financial Times reported. In late February, American Ventures, through a special purpose vehicle managed by Trump Tower-...
adventtr/iStock via Getty Images A Trump family-linked investment vehicle has backed Nasdaq-listed wellness and biosecurity company XWell ( XWEL ) in a deal aimed at rolling out AI-powered infectious disease screening at U.S. airports during the June 2026 football World Cup, the Financial Times reported. In late February, American Ventures, through a special purpose vehicle managed by Trump Tower-based broker Dominari Securities, agreed to buy about $31M convertible shares of XWell ( XWEL ). XWell ( XWEL ) runs brands like XpresSpa for airport wellness services, including medical screenings via XpresCheck, and a small chain of waxing salons along Florida’s west coast. The deal follows XWell’s ( XWEL ) partnership with AI predictive analytics startup PieQ, with the two companies planning to deploy a “next generation intelligence layer” designed to manage anticipated surges in U.S.-bound travel during major international events, including the upcoming football World Cup. It remains unclear whether Donald Trump’s two eldest sons, Donald Trump Jr. and Eric Trump, personally invested in XWell ( XWEL ), though the report pointed that the pair are involved in most American Ventures deals, citing a person familiar with the matter. XWell ( XWEL ) stock traded about 3% lower on Monday during pre-market hours. The stock jumped over 200% at the end of February after the company announced a private placement with American Ventures. The rally was mainly driven by the size of the funding relative to XWell’s ( XWEL ) sub-$10M market capitalization at the time. Publicly traded Trump‑linked tickers: Trump Media & Technology Group ( DJT ). Truth Social-branded ETFs: ( TSSD ), ( TSNF ), ( TSIC ), ( TSES ), ( TSRS ). More on XWELL XWELL reports FY results XWELL announces $31.3M private placement Financial information for XWELL
North Korea appears to be distancing itself from long-time partner Iran and carefully managing its public messaging to preserve the possibility of a new relationship with the US after the Iran war, South Korean lawmakers have said, citing the spy agency. Seoul’s National Intelligence Service (NIS) said North Korea had not sent weapons or supplies so far to Iran since the conflict started on Febru...
North Korea appears to be distancing itself from long-time partner Iran and carefully managing its public messaging to preserve the possibility of a new relationship with the US after the Iran war, South Korean lawmakers have said, citing the spy agency. Seoul’s National Intelligence Service (NIS) said North Korea had not sent weapons or supplies so far to Iran since the conflict started on February 28, and did not issue public condolences upon the death of Supreme Leader Ayatollah Ali...
Donny DBM/iStock via Getty Images Dear Partners, In the first quarter of 2026, fund assets appreciated by 3.2%. Over the three-year period, the fund is up 73.3% 1 compared to the S&P 500 return of 68.0%. 2 It was smooth sailing for us in the first two months of the year, but March was a different story. The effective blockade of the Strait of Hormuz drove fund performance in the wrong direction in...
Donny DBM/iStock via Getty Images Dear Partners, In the first quarter of 2026, fund assets appreciated by 3.2%. Over the three-year period, the fund is up 73.3% 1 compared to the S&P 500 return of 68.0%. 2 It was smooth sailing for us in the first two months of the year, but March was a different story. The effective blockade of the Strait of Hormuz drove fund performance in the wrong direction in March, with the fund declining 8.4% during the month. The Strait is one of the world's most critical energy chokepoints — approximately 20% of global oil consumption and a significant share of global LNG trade pass through it annually. 3 The overwhelming majority of that supply — roughly 80% — flows to Asian markets, meaning the physical supply shock is felt most acutely in Asia, even as the price shock reverberates globally. Japan is particularly exposed: the country sources approximately 95% of its oil imports from the Middle East, with around 70% passing the Strait directly. Unlike many of its neighbors, Japan entered this disruption with one of the world's largest strategic petroleum reserves — approximately 9 months of total supply. However, the severity of the disruption prompted Japan to begin its largest-ever reserve release in March. 4 Reserves provide a buffer, but they are not a permanent solution, and the uncertainty surrounding Japan’s near-term economic prospects remains considerable. The market downturn in the month triggered our hedging strategy, which I initiated in the first half of March. As the conflict in the Middle East escalated and oil prices surged above $100 per barrel, equity markets broadly declined, with the S&P 500 reaching a new low for the year in early March. The hedge is not signaling my ability to predict the outcome of this conflict (far from it!), but rather a response to the system I have in place, which should help the portfolio remain resilient. Volume of petroleum transported through the Strait of Hormuzmillion barrels per day Data ...