SPAC = 福袋＋種殼

SPAC (Special Purpose Acquisition Company) 是投資界的福袋。

福袋（英文：lucky bag / happy bag，日文：ふくぶくろ，發音：fukubukuro）是日本零售業的玩法：每年元旦，零售商（供應商）推出內含多件商品（例如：服飾、化妝品、食品、文具、生活雜貨）的福袋，（理論上）商品價格總和比福袋售價高，但是買家（消費者）不知道裡面有甚麼東西，即是賭運氣，零售商跟愛購物的女人玩驚喜（嚇）。從零售商的角度看，是用節日抽獎包裝割價促銷，對不對？如果消費者（女性購物狂）因為貪便宜，天未亮就在某商店的門前排隊，購得福袋之後把內容公開（拍照放上社交媒體），七嘴八舌討論那一家商店的福袋最抵買，會產生宣傳效果，從商家的角度看即是一舉兩得（散貨＋促銷）。

SPAC (Special Purpose Acquisition Company) 的中文譯名叫「特殊目的收購公司」，玩法跟福袋很類似：把沒有實質業務的空殼公司（又名：空白支票公司）上市，募集所得的資金日後用於合併或收購目標公司，而 SPAC 必須在首次公開募股之後的 12 至 24 個月內簽署合併或收購意向書。否則它將會被解散，並將信託中所持有的資產歸還給公眾股東。從投資者（機構投資者或散戶）的角度看，不知道 SPAC 日後會收購甚麼公司，以及帶來怎樣的回報，跟女人買福袋一樣，對不對？如果 SPAC 上市之後跟所收購的公司合併，令後者得到上市地位及融資渠道，聽起來跟「借殼上市」 (Backdoor listing) 有相似之處，分別是 SPAC 所用的「殼」比較乾淨，也開宗明義替另一間公司開路和融資，投資者（假設散戶有份參與融資）無須浪費時間猜測那隻「殼股」日後會被收購然後注入資產。也許應該這樣說：SPAC 是投資界的「福袋」，擺明車馬玩「種殼」，願者上釣。

怎樣吸引投資者入局？靠 SPAC 背後的私募基金 (Private Equity) 或投資銀行 (iBank) 的功力，以及請來名人做 CEO，即是賣名氣、看後台。另外，因為上市的時候沒有實質業務，所需的審查程序比傳統的 IPO 簡單，可以節省時間和成本，也可以加速資金的流轉，這是貨（上市公司）如輪轉的道理，不難理解。上市的時候沒有實質業務，日後才知道收購那個行業的公司，也就無須解釋為甚麼要轉換行業，即是煩少一樣，要（向投資者）推銷的時候也比較靈活，對不對？

從投資者的角度看，玩 SPAC 的風險是：那筆錢要被鎖死兩年，回報率沒有保證，萬一最後 SPAC 沒有找到適合的收購對象，即是錯過了其他的投資機會，對不對？假如上市之後股價下跌，便是虧蝕，跟買錯股票一樣。另外就是詐騙風險，由於 SPAC 是沒有業務的空殼（注意：英文叫 Blank Check Company），盡職審查的標準和費用都比傳統的 IPO 為低，對投資者的保障也相對較少。話說回來，金融市場是賭場，所謂十賭九騙，騙徒的手法層出不窮，詐騙風險甚麼時候都存在，就算是經過傳統 IPO 程序上市的公司，（部份）也被揭發是造假賬（提示：Enron），對不對？（男性）投資者是否會變成港式粗言中的「笨 Seven」（提示：荷蘭銀行支票），始終要靠自己，因為專業人士信不過，對不對？女人不便爆粗，你懂的。

插圖來源：互聯網

YouTube 精選：

尹光：＜荷蘭銀行支票＞（尹光龍咁威演唱會）(1:31)

https://www.youtube.com/watch?v=dmwbtALZgew

歌詞：「你開出個張支票直情係廢紙！」

Melody's Portfolio-24 荷蘭銀行梵谷動畫篇 (0:39)

https://www.youtube.com/watch?v=uuqD-RENVeA

ABN-AMRO Bank 的宣傳口號：We grow with you.

Forrest Gump (1/10) Best Movie Quote

- Life is Like a Box of Chocolates (1994) (2:30)

https://www.youtube.com/watch?v=egkrxkiUnoo

經典對白：Life is like a box of chocolates, you never know what you are going to get.

延伸閱讀／參考資料：

福袋是什麼？福袋怎麼買？關於日本福袋相關合集
https://kknews.cc/news/me4354p.html

節錄：福袋是什麼？福袋，HAPPY BAG，日文叫ふくぶくろ（福哭不哭咯），顧名思義就是福氣滿滿的福利袋子。每年年初元旦日本商家會準備內含多件產品的福袋或者禮盒。產品總和價格會比福袋本身販賣的價格要高出很多！例：福袋標價 1 萬日元，但其實內里產品的價值遠遠超過 1 萬日元，而是 5-6 萬日元，這樣買到手對買家來說是非常划算的購物體驗！也是每年福袋這麼熱門的原因。簡單來說就是大禮包，以更低的價格買到更多的商品。

大部分福袋裡的內容是不會被公開的！（但衣服的尺碼、種類會公開）對於喜歡驚喜感的朋友很適合，拆福袋的每一瞬間都是期待感爆棚。福袋的種類有很多，服飾、化妝品護膚品、電器、食品、文具、消耗品、生活雜貨等，各個方面的福袋都有！有品牌自身出的福袋，也有各大百貨商場出的專屬福袋，甚至一些私人小商鋪也會自己包裝做一些促銷福袋。福袋購買的方式有兩種：一是元旦當天去店頭排隊購買（部分商場 1 月 1 號會休息的為 1 月 2 號開賣）二是在網上提前預定。（適合沒辦法親身去日本；稍微懂得日本網站操作方式的人）但福袋到手日期也是 1 月頭左右。

維基百科：特殊目的收購公司

https://zh.m.wikipedia.org/wiki/特殊目的收购公司

節錄：特殊目的收購公司（英語：SPAC）是一種投資基金，允許公共股票市場投資者投資私募股權交易，特別是槓桿收購。SPAC 是殼公司或空白支票公司，它們沒有業務但是上市的目的是與 SPAC 首次公開募股（英語：IPO）的收益合併或收購公司。根據市場慣例，SPAC 首次公開發行募集資金的 85％ 至 100％ 以信託方式持有，以便日後用於合併或收購。 2017 年美國的所有上市公司中，SPAC 的數量占據了約 20%。

SPAC 必須在首次公開募股後 12 至 24 個月內簽署合併或收購意向書。否則，它將被迫解散並將信託中持有的資產歸還給公眾股東。但是，如果在 18 至 21 個月內簽署意向書，SPAC 可在 24 個月內完成交易。今天， SPAC 與 24 個月的有限終身租約合併，要求 SPAC 在其提供兩周年之前與合併或收購目標不成功時自動解散。 SPAC 通常由經驗豐富的管理團隊領導，該團隊由三名或三名以上成員組成，擁有先前的私募股權，併購和／或運營經驗。

Investopedia - Special Purpose Acquisition Company (SPAC)

https://www.investopedia.com/terms/s/spac.asp

Extract: A special purpose acquisition company (SPAC) is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. Also known as "blank check companies," SPACs have been around for decades.

KEY POINTS:

• A special purpose acquisition company is formed to raise money through an initial public offering to buy another company.
• At the time of their IPOs, SPACs have no existing business operations or even stated targets for acquisition.
• Investors in SPACs can range from well-known private equity funds to the general public.
• SPACs have two years to complete an acquisition or they must return their funds to investors.

How a SPAC Works. SPACs seek underwriters and institutional investors before offering shares to the public. The money SPACs raise in an IPO is placed in an interest-bearing trust account. These funds cannot be disbursed except to complete an acquisition or to return the money to investors if the SPAC is liquidated. A SPAC generally has two years to complete a deal or face liquidation. In some cases, some of the interest earned from the trust can be used as the SPAC's working capital. After an acquisition, a SPAC is usually listed on one of the major stock exchanges. One of the most high-profile recent deals involving special purpose acquisition companies involved Richard Branson's Virgin Galactic. Venture capitalist Chamath Palihapitiya's SPAC Social Capital Hedosophia Holdings bought a 49% stake in Virgin Galactic for $800 million before listing the company in 2019.

What Are SPACs and Where Are the Risks?

January 21, 2021
by IntegrityRisk Team

https://www.integrityriskintl.com/news-insights/what-is-a-spac?utm_content=153852833&utm_medium=social&utm_source=linkedin&hss_channel=lcp-10486723

Extract: You don’t know what you might get. SPACs are created without targets in mind, so as an investor you are committing your funds blind with no guarantee of what the returns might be. A recent Financial Times analysis of US blank check companies found that the majority lie below the standard price they were first issued at. With more SPACs on the market than ever before, and the clock perpetually ticking toward the deadline, inexperienced sponsors may be forced to consider a bad deal instead of no deal at all. With fewer due diligence requirements in place than a traditional IPO, investors may also find themselves encumbered with the “old donkey” instead of the unicorn. 

There is significant potential for fraud. Blank check corporations first appeared in the 1980s and had a bad reputation that some say remains today. Though more recent SPACs have less dicey origins, due diligence is essential to weed out potential fraud. Moreover, some market observers have noted that some investors remain reluctant to to purchase shares of a firm that went public via a SPAC because of concerns that due diligence requirements may be lower than those required by the SEC for ordinary IPOs. You are relying on sponsor reputation. Much of the interest associated with SPACs lies in the hands of the sponsors. With so many high-profile names involved, expectations can run high. But just how much do investors know about the reputations of these sponsors, especially if it is their first foray into this type of investment vehicle? Even for experienced industry veterans, a sponsor’s reputation should not replace robust due diligence as a vital step in the investment process. 

Why Are Top CEOs Flocking To SPACs (Blank Check Companies)?

Rick Smith

Forbes (2018-06-20)

https://www.forbes.com/sites/ricksmith/2018/06/20/why-are-top-ceos-flocking-to-spacs-blank-check-companies/?sh=48ab222b32d3

Extract: In just the last few weeks, three prominent Chief Executives: Dave Cote of Honeywell, Thomas Farley of the New York Stock Exchange, and Baudouin Prot of BNP Paribus all announced they were taking on significant new roles. But not as CEOs of large, global organizations. Rather, all three announced they would be leading blank-check companies, or “SPACs”. What are these relatively unknown entities, and why are they attracting so many of the world’s top leaders? 

Why the attraction? For many recently retired Chief Executives, leading a SPAC offers the optimal combination of opportunity and activity. The large majority of former public company CEOs are not interested in jumping back into a similarly all-consuming leadership role. They have been there, done that, and most have taken enough chips off the table to be choosy. But most CEOs aren’t satisfied with simply improving their golf game. They want to stay active in business and are eager to pursue interesting opportunities.

The dilemma that many CEOs face is that the time commitment for many of the opportunities they are presented with is prohibitively long. Pursuing a private equity deal holds great uncertainty and often requires a 7+ year commitment. Committing to one or two board seats is likely to be just as inflexible and can be similarly difficult to exit. With a SPAC, the CEO is required to only make a 24-month commitment, work part time with a small team, and focus on an industry sector they are excited about. SPACs can also be extremely lucrative, with payouts often reported in the tens of millions of dollars.

外電指李嘉誠擬於美國透過 SPAC 上市集資約 4 億美元

RTHK 2021-02-24

https://news.rthk.hk/rthk/ch/component/k2/1577343-20210224.htm

節錄：彭博引述消息人士指，長和系創辦人李嘉誠正計劃，透過特殊目的收購公司 (SPAC) 於美國上市集資約 4 億美元，但未落實具體條款。消息指，由李嘉誠家族支持的 1 家公司，正就潛在的 SPAC 首次公開發行，與顧問團隊合作，最快本周向美國證券交易委員會 (SEC) 提交註冊文件。

投資 Zoom 賺翻了 李嘉誠重奪香港首富

中時新聞網（2021/02/25）

https://www.chinatimes.com/realtimenews/20210225005735-260409?chdtv

節錄：Forbes 25 日公佈的最新香港富豪榜，長和系大股東李嘉誠重奪香港首富之位，身家按年增加 20％ 至 354 億美元，主要受到其持股的視訊通訊公司 Zoom 股價大漲帶動。在美國那斯達克上市的 Zoom 股價從前年底不到 70 美元，一度在 2020 年漲到 588 美元，2020 年底收在 337 美元，年漲幅 395％。李嘉誠持有 Zoom 約 8.5％ 股權，以目前 Zoom 每股 385 美元計算，持股市值接近 100 億美元。

Amid SPAC frenzy, the Hong Kong Stock Exchange is looking at options

Khamila Mulia 

kr-asia (23 Feb 2021)

https://kr-asia.com/amid-spac-frenzy-the-hong-kong-stock-exchange-is-looking-at-options

Extract: The special purpose acquisition company (SPAC) model, which gained huge momentum in the US last year, recently also enticed Asian tech companies as possible way to go public. They might soon have options closer to home as the Hong Kong Stock Exchange (HKEX) reportedly considers the introduction of SPACs, for which it has already been in contact with securities firms. SPACs are shell companies that raise funds via public offerings to acquire unspecified enterprises. They don’t have a business model of its own beyond these financial transactions. Companies in technology and healthcare are especially popular targets for this model.

Hong Kong welcomed major tech companies such as JD.com and NetEase on its bourse last year. As Asia’s preeminent financial hub, the city is set to benefit from the SPAC adoption across the region and HKEX could become the world’s second-largest SPAC market after the US. It doesn’t yet support SPAC listings, but the recent response signals that it is reviewing the idea. Singapore has meanwhile been more straightforward in expressing its interest, hoping to list its first SPAC later this year if there is enough support from the industry, reported Bloomberg. It is not a new trend for the exchange as it had looked at the scheme back in 2010. At the time, there was not enough interest.

MBA 智庫百科：借殼上市 (Backdoor listing)　

https://wiki.mbalib.com/zh-tw/借壳上市

黃兆琪：殼股入門投機攻略

Metro Radio (29/5/2014)

https://www.metroradio.com.hk/mfd/InvestmentHotshotsDetail.aspx?id=a8b41101-72cc-4c37-9955-5ecafcdfc6b9

節錄：所謂「殼股」，就是指擁有上市地位、業務簡單的公司股份。「殼」這個單字，會令人聯想起「空殼」二字。沒錯，一隻殼就是沒有甚麼「實際內容」。上市的地位可以方便融資發展業務，也可以取得更大的信用額度去借貸，自然有價有市。現在大眾默認的主板殼價約三億多，創業板為一億八千萬左右，視乎公司質素，計算價當中包括了上市費用、律師費、會計師費、投行顧問費等上市開支。投機殼必須留意，炒「殼」的玩法有兩種：第一種是憧憬會被收購，第二種是真的會被收購。

Investopedia - Unicorn

https://www.investopedia.com/terms/u/unicorn.asp

Extract: What Is a Unicorn? A unicorn is a term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion. The term was first popularized by venture capitalist Aileen Lee, founder of CowboyVC, a seed stage venture capital fund based in Palo Alto, California. A unicorn is what most people in the financial world call a startup that is privately-owned with a valuation exceeding $1 billion.

Some of the more popular unicorns based in the U.S. include home-sharing giant Airbnb, video game company Epic Games, as well as fintech companies Robinhood and SoFi. According to Lee, the first unicorns were founded in the 1990s. Alphabet (GOOG)—then Google—she noted, was the clear super-unicorn of the group with a valuation of more than $100 billion. Many unicorns were born in the 2000s, though Facebook (FB) is the decade's only super-unicorn. Unicorns and Venture Investing. Since the publication of Lee's article, the term has become widely used to refer to startups in the technology, mobile technology, and information technology sectors—usually at the intersection of all three—with very high valuations questionably supported by their fundamental finances.

KEY POINTS:

• Unicorn is the term used in the venture capital industry to describe a startup company with a value of over $1 billion. 
• The term was first coined by venture capitalist Aileen Lee.
• Some popular unicorns include Airbnb, Uber, SpaceX, Robinhood, and SoFi.

While unicorns are startups with valuations of over $1 billion, companies with valuations of over $10 billion are sometimes referred to as decacorns. Some familiar U.S.-based unicorns include Uber, Airbnb, SpaceX, Palantir Technologies, WeWork, and Pinterest. China claims a number of unicorns as well, including Didi Chuxing（滴滴出行）, Xiaomi（小米）, China Internet Plus Holding (Meituan Dianping), and Lu.com.

Understanding differences in startup financing stages

https://startupxplore.com/en/blog/types-startup-investing/

Extract: The startup funding landscape has changed significantly over the past few years in Europe. While five to ten years ago the options available to startups were few, lately we’ve witnessed an important surge in Venture Capital available for startups at all stages. From seed to growth, from Series A to Series C.

This increase in capital has been accompanied by the creation and development of alternative financing vehicles such as crowdfunding, investment syndicates and new and fresh Venture Capital firms that bring different approaches to the market. With this post we’ll analyze what types of fundraising vehicles are being used at the different stages of a startup’s life.

7 sources of start-up financing

https://www.bdc.ca/en/articles-tools/start-buy-business/start-business/start-up-financing-sources

Extract: Whether you opt for a bank loan, an angel investor, a government grant or a business incubator, each of these sources of financing has specific advantages and disadvantages as well as criteria they will use to evaluate your business. Here's an overview of seven typical sources of financing for start-ups:

1. Personal investment
2. Love money
3. Venture capital
4. Angels
5. Business incubators
6. Government grants and subsidies
7. Bank loans

相關的文章：

東尼（一） 

2010 年 4 月 2 日

http://xiaoshousha.blogspot.hk/2010/04/blog-post.html
節錄：東尼 (Tony Measor, 1933-2015) 應該是香港知名度最高的鬼佬股評人。東尼的投資哲學非常 Old School、王道、正路。他主張「價值投資法」(Value Investing)，發掘有潛力但是現階段被低估的股票，然後長期持有 (Buy and Hold)，即是巴菲特 (Warren Buffett, 1930-) 的那一套。上一代阿媽教女兒揀老公，也是這樣的。

光棍姻緣（一） 

2008 年 9 月 1 日

http://xiaoshousha.blogspot.hk/2008/09/blog-post.html
節錄：明明公司的業務已經走下坡，股價長期低殘，但是老闆依然帶著知名度甚高的女藝人出入娛樂場所，招搖過市，夜夜笙歌。聰明的銀行家，見狀都懂得第一時間上門追數，同時大幅削減甚至取消企業和老闆本人的信貸限額。因為他們都知道，這是一種桃色煙幕。

細價股

2017 年 8 月 25 日

https://xiaoshousha.blogspot.hk/2017/08/blog-post_25.html
節錄：新一代的細價股莊家，據說不乏老牌華人慈善團體的總理（贊助商）又或者馬會會員。換言之，他們一邊做壞事一邊替自己贖罪，還是一邊洗底一邊尋找客戶？聽起上來，跟黑社會返教會差不多。而推介這些細價股的財經演員（莊家的傍友兼寫手），又不乏有案底或曾經入獄的男人，即是蛇鼠一窩。古惑仔開俾面派對，局外人避之則吉，誤闖可能會無命的。

Boiler Room

2020 年 9 月 12 日

https://xiaoshousha.blogspot.com/2020/09/boiler-room.html

節錄：「炒股群組」所用的行騙手法，源於一種叫 Boiler Room 的騙局。何謂 Boiler Room？騙徒透過電話、電郵或社交媒體（例如：WhatsApp）聯絡受害人，用高壓手段推銷股票，亦可以是未上市的投資項目，又或者是其他投資產品（例如：債券、商品、外匯）。如果受害人購入騙徒所推介的股票，令股價大幅飆升，然後幕後玩家趁機出貨獲利，便是操控股價即是造市。

官商角力

2016 年 9 月 9 日

http://xiaoshousha.blogspot.hk/2016/09/blog-post.html
節錄：有些商品或服務，消費者有需求，但是供應不足或者質素欠佳，頭腦靈活的生意人，於是採用另類的手法去滿足需求。可以是公然違反法例，走法律罅又或者是靠燒錢搶佔市場佔有率（例如：Uber），希望造成聲勢又或者是既定事實，試圖衝擊官府的底線以及測試官員的容忍程度，看看能否開闢新的市場空間，最終迫使官府修改法例或遊戲規則，讓這些新推出的商品或服務由非法變成合法。

瓣數多（三） 

2014 年 9 月 18 日

http://xiaoshousha.blogspot.hk/2014/09/blog-post_18.html
節錄：企業多元化發展 (Diversification) 的原因，離不開：增長放緩、成本上升、利潤微薄、競爭激烈、官府改例、行業衰落及科技發展改變商業模式等。多元化發展，有幾種做法。可以是進軍相關或不相關的產業（甚至是徹底放棄本業）。也可以是利用現成的產品，進軍高增長的新興市場（例如：迪士尼在香港和上海開設主題公園），又或者是在現有的市場推出全新產品（例如：McCafe）。

瓣數多（四）

2014 年 10 月 31 日

http://xiaoshousha.blogspot.hk/2014/10/blog-post_31.html
節錄：香港幾間華資地產商，都是綜合企業 (Conglomerate)。發展過程，大同小異。七十年代賣樓起家，上市之後作橫向式多元化發展。最初是拓展與地產相關的行業，例如：物業管理、零售、酒店、交通、公用事業。踏入九十年代，則順應潮流進軍電訊、科網和傳媒行業。中間又可能利用香港的賣樓收入，收購海外的基建項目。結果幾十年下來，公司慢慢演變成為一個以地產為主的多元化投資組合。從地產商的角度看，多元化發展有以下的好處。

去留之間

2013 年 7 月 26 日

http://xiaoshousha.blogspot.hk/2013/07/blog-post_26.html
節錄：香港很多上市公司都是綜合企業，可以用 BCG Matrix 來分析，當中包括幾大華資地產商：正考慮放售百佳超市 (Park N Shop) 的長和系、新鴻基系、新世界系、九龍倉系。以長和系為例，其業務涵蓋地產、酒店、零售、電訊、運輸、基建等多個範疇，而每一門生意的遊戲規則、成功要素 (Critical Success Factor) 、生命週期 (Product Life Cycle)、市場定位 (Market Positioning) 和顧客需求都不盡相同，對管理層來說難度極高。

死亡筆記

2017 年 6 月 30 日

http://xiaoshousha.blogspot.hk/2017/06/blog-post_30.html
節錄：中資玩財技，還是停留於抄襲的階段，左抄右抄，炒埋一碟，似科學怪人 (Frankenstein)。特徵：用人頭隱藏真老闆、高槓桿收購、回購股份托價、大股東抵押股票（然後被斬倉）、自製同股不同權、持有上市業務的控股公司上面還有幾重的離岸公司（例如： TVB）。對付妖怪，監管機構用律師的方法，狙擊手用古惑仔的手段，中外決戰，看誰的本領高。股市有洋人狙擊手出沒，可以令生態環境稍為平衡一點，不至於向紅色勢力一面倒。

變形記 

2015 年 4 月 20 日

http://xiaoshousha.blogspot.hk/2015/04/blog-post_20.html
節錄：眼前的香港股市，是卡夫卡 (Franz Kafka, 1883-1924) 的＜變形記＞(The Metamorphosis)：男主角是孝順兒子，任職旅行社推銷員，連續五年努力工作，替父母還清債務，某日從睡夢中醒來，發現自己變成甲蟲。起初還有人類的意識，但是日子久了，語言能力退化，行為跟甲蟲無疑（倒掛在天花板）。由於被家人厭惡，缺乏照顧，自我放棄。他死後，家人的反應是：「感謝上帝！」

翻身的日子

2017 年 12 月 27 日

https://xiaoshousha.blogspot.hk/2017/12/blog-post_27.html
節錄：中資的收購合併活動，不但令港人難以翻身，也令到這個世界變得越來越複雜和脆弱（提示：海航）。甚麼時候偉大祖國終於成為席捲全球同時禍及香港的金融風暴的源頭，天曉得。中國人集體「翻身」的日子，恐怕是地球人付出代價之時，而香港會首當其衝，率先陪葬。（原因：香港銀行業的內地相關貸款佔資產總額的比例升至接近兩成，而紅籌國企 H 股佔恒生指數的比重已經超過一半。）

爆粗的女人

2014 年 5 月 6 日

http://xiaoshousha.blogspot.hk/2014/05/blog-post.html
節錄：男人不會明白，女人爆粗，需要多大的勇氣。粵語粗言，由於頻頻亮劍（拔出男性的生殖器官），又經常問候女性的生殖器官，容易令女性覺得受侮辱，又或者是勾起被強姦的恐懼。女人當中，又以學院派的女權份子，高學歷的女性專業人士，以及有性潔癖的女性基督徒，最為抗拒粗口。

路姆西

2013 年 12 月 19 日

http://xiaoshousha.blogspot.hk/2013/12/blog-post_19.html
節錄：有些學院派的女權份子，又或者是高學歷的女人，認為男人講粗口是一種性暴力，故意讓女人勾起被強姦的恐懼，應該被嚴厲譴責和懲罰（例如：總之講粗口就係唔啱！）。 Auntie 是這樣看的：男人講粗口，原因複雜，不能一概而論。年輕時大概是為了貪玩，中年時應該是為了發洩工作壓力，老年時則肯定是為了哀悼性功能衰退、感嘆如廁日益困難。

Revised 27/02/2021

 

抄襲＋灌水

向仇家偷橋

如果說抄襲等於致敬，那麼向仇家偷橋又算是甚麼？（跟敵人）眉來眼去、暗通款曲、勾勾搭搭？還是不打不相識、陣上招親、親上加親？抑或身體最誠實，行動比語言更能說明一切？中國一方面跟美國進行口水戰（中國外交部發言人：香港事務純屬中國內政，美國沒有任何資格橫加干涉），另一方面又繼續抄襲（或借用或挪用）美國人發明的概念或罪名。證據：

例子一：當美國的科網巨企例如 Google 和 Facebook 面對反壟斷 (Antitrust) 指控，可能要分拆或出售部份業務（例如：WhatsApp），你見到中國的科網股例如阿里爸爸（港股編號：9988）也面對同樣的罪名，旗下的支付寶母公司螞蟻集團的上市計畫在最後一刻被煞停，之後有傳聞阿里爸爸已經與中國的監管機構就業務重組計劃達成協議，螞蟻集團會轉型為一家金融控股公司，面對與銀行業同一標準的資本要求，即是營利能力被削弱，影響估值和降低集資金額。如果上市籌集的資金不足，是否要把股份賣給國家（還是把股份上繳給黨中央？），說得出來的（反壟斷）又是否藉口，自己想。

例子二：去年八月底，美國前總統特朗普的前顧問、前白宮首席策略師班農 (Steve Bannon) 因為詐騙罪及洗黑錢罪名被捕。美國的司法部門指班農以興建邊境（提示：墨西哥）圍牆為名義發起網上眾籌，籌得超過 2500 萬美元，他涉嫌從中挪取超過 100 萬美元，部份用於個人開支。班農在一首遊艇上被捕，遊艇主人是外逃的中國商人兼爆料工廠（網媒）負責人郭文貴。然後你見到香港的執法部門用同樣的罪名（發起網上眾籌然後涉嫌侵吞部份款項於是等同詐騙和洗黑錢）對付多名反對派人士以及多個（政治和宗教）團體。問題：中央政府傳令香港的執法部門向美國佬學習？用（美帝）對付爆料阿貴的美國軍師的手法來對付香港的反對派，因為港人是美帝的走狗（提示：黎智英），向偉大祖國發動顏色革命，所以用迂迴曲折的手法報復（美帝）？香港人還是不是中國人？抑或在中共的眼中，香港人從來都不是自己人而是信不過的洋奴？自己想。

簡單地說：亦步亦趨，跟得好貼。中國政府（以及大陸官媒）嘴巴罵美帝，但行動卻在模仿對方，這是甚麼玩法？美國人寫的實用心理學書籍（也許應該叫推銷員寶典才對）裡面有 Mirroring  這一招，即是模仿對方的表情、語氣、用字、動作甚至是立場，令對方在不知不覺之間相信閣下是真朋友或好知己 (Develop trust and rapport at the unconscious level)，然後向對方推銷商品、服務或各種信仰就會無往而不利，即是跑數（達標）無難度。這一招，推銷員或傳教士一定懂，但偉大的中國共產黨也要用這一招？因為面對的是新生勢力（即：國產的科網股＋香港的抗爭者），沒有先例可援，不知道應該怎麼辦，事情在中共的認知範圍以外，於是要向美國佬偷師？這些大逆不道的問題，自己想。

Water Down（溝淡、灌水）

網上字典的解釋：If something such as a proposal, speech, or statement is watered down, it is made much weaker and less forceful, or less likely to make people angry.

特區政府的玩法：

例子一：港人抗拒紀錄行蹤和侵犯私隱的「健康碼」？那麼就換個名字，推出沒有那麼嚴厲的「安心出行」應用程式，然後「強烈建議」公務員下載那個程式，否則無法進入不同政府部門，即是無工開、無糧出（即：用飯碗要脅）。對付私營機構，就把安裝及使用「安心出行」變成餐飲零售的復業條件，迫使私營機構向消費者推銷「安心出行」，是同一招來的。特區政府向誰人交數？自己想。

例子二：推動全民強制監測有難度？突襲式圍封個別的樓宇或社區。通宵監測，好讓你明天早上繼續上班去。確診個案數目少，但是繼續在不同的社區玩這一套。老人說：「唔知做俾邊個睇！」（不知道演戲給誰看？）小朋友的網上留言：「點解唔封半山區？夠薑封新界圍村！」（只敢玩舊區窮人？不敢得罪鄉事派？）

半桶水，拖拖拉拉，只做門面功夫，選擇阻力最少的路徑，把弱勢變成交數工具，但是避免觸碰問題的真正根源，以免得罪在政治上有影響力的利益集團，面對傳媒就繼續講廢話耍官腔帶小記者遊花園，是港式公務員的慣技。這一套，港人非常熟悉。Less likely to make people angry? 喂，Hongkongers angry 左好耐喎！

結論：中國政府玩抄襲，特區政府玩灌水。官府沒有真本領，小市民叫苦連天。唉！越寫越似長輩文章，Auntie 老了。在這種環境過年，想起都頭痛。Auntie 祝大家身體健康，我們要跟壞人鬥長命。

插圖來源：www.fotosearch.com

YouTube 精選：

【高登音樂台】＜疫區牢籠記＞

（原曲：倚天屠龍記＋鄭少秋）(3:38)

https://www.youtube.com/watch?v=EXg2WlGR2J8

網民的留言：依家香港周圍都封區，封油麻地、佐敦、尖沙咀、旺角、深水埗、天水圍、北角、紅磡，但係大多數都食白果零確診，政府真係累人累物。

鄭少秋：＜倚天屠龍記＞

（1978 TVB 電視劇＜倚天屠龍記＞主題曲）(3:45)

https://www.youtube.com/watch?v=nMfzSSDNESo

這是原曲，也是 Auntie 的童年回憶。這個版本有幾位出色綠葉：石堅演金毛獅王、關海山演張三豐、上官玉演滅絕師太，都是有氣派的演員。

 延伸閱讀／參考資料：

The Art of Building Rapport, Part I: Mirroring & Matching

October 22, 2012 by ascendnonprofits

https://coachingandthejourney.wordpress.com/2012/10/22/the-art-of-building-rapport-part-i-mirroring-matching/

Extract: Mirroring and matching are techniques widely used in Neuro-Linguistic Programming, or NLP, an interpersonal communication model created by Richard Bandler and John Grinder in the 1970s.  The idea is that people feel most comfortable around those who are like them – they feel that their point of view is understood. The more someone believes you are like them, the easier it is to develop trust and rapport at the unconscious level.

Mirroring refers to the simultaneous ‘copying’ of the behavior of another person, as if reflecting their movements back to them.  When done with respect and discretion, mirroring creates a positive feeling and responsiveness in you and others. Matching, on the other hand, can have a built-in ‘time lag’.  For example, if a seated client uncrosses his legs and leans slightly inward while speaking, you should wait for a few seconds and then discretely adopt the same posture.

The most prudent of establishing rapport quickly is to mirror and match the most unconscious elements of a person’s behavior during communication, such as physiology and tonality. Together, these two elements comprise an estimated 93% of our communication.  Paying attention to just these two elements can make you most like the other person without their being aware that this is occurring – that’s the key to success.

Investopedia - What Is Antitrust?

https://www.investopedia.com/terms/a/antitrust.asp

Extract: Antitrust laws are regulations that encourage competition by limiting the market power of any particular firm. This often involves ensuring that mergers and acquisitions don't overly concentrate market power or form monopolies, as well as breaking up firms that have become monopolies. Antitrust laws also prevent multiple firms from colluding or forming a cartel to limit competition through practices such as price fixing. Due to the complexity of deciding what practices will limit competition, antitrust law has become a distinct legal specialization.

Key points:

• Antitrust laws were designed to protect and promote healthy competition within all sectors of the economy.
• The Sherman Act, the Federal Trade Commission Act and the Clayton Act are the three pivotal laws in the history of antitrust regulation.
• Today, the Federal Trade Commission (FTC) sometimes in conjunction with the Department of Justice (DOJ) is tasked with enforcing federal antitrust laws.

Understanding Antitrust. Antitrust laws are the broad group of state and federal laws that are designed to make sure businesses are competing fairly. Supporters say antitrust laws are necessary for an open marketplace. Healthy competition among sellers gives consumers lower prices, higher-quality products and services, more choices, and greater innovation. Opponents to antitrust laws argue that allowing businesses to compete as they see fit would ultimately give consumers the best prices. The trust in antitrust refers to a group of businesses that team up or form a monopoly in order to dictate pricing in a particular market.

Facebook, Google to Face New Antitrust Suits in U.S.

By John D. McKinnon

Wall Street Journal (Nov 30, 2020)

https://www.wsj.com/articles/facebook-google-to-face-new-antitrust-suits-in-u-s-11606742163

Extract: Federal and state officials are probing whether the tech giants abused their power in the internet economy — Google to dominate search and advertising, and Facebook to dominate social media. Google and Facebook have denied doing so, saying they operate in highly competitive markets and that their services, which are mostly free, benefit consumers.

If Facebook were to be sued, it would mark the first government antitrust action against the social-media titan in the U.S. Facebook has come under particular criticism from Republicans and Democrats in Congress as well as President-elect Joe Biden over its content-moderation policies. Apple Inc. and Amazon Inc., which along with Google and Facebook came under fire from a congressional panel in July, are also under scrutiny from antitrust officials. The FTC is nearing approval of an antitrust suit against Facebook in coming days, according to people familiar with the matter. The commission has been focused on whether Facebook stifled competition through acquisitions such as Instagram and WhatsApp.

Another coalition of state attorneys general, led by Ken Paxton of Texas, is aiming to file an antitrust case against Google over its powerful online-advertising business. Much of Google’s power as an ad broker stems from acquisitions of ad-tech companies, especially its 2008 purchase of DoubleClick Inc. Regulators who approved that $3.1 billion deal warned they would step in if the company tied together its offerings in anticompetitive ways. Some publishers and advertisers say that is what has happened.

Facebook and Google cases are our last chance to save the economy from monopolization

By Steven Pearlstein

Washington Post (Dec 18, 2020)

https://www.washingtonpost.com/business/2020/12/18/google-facebook-antitrust-lawsuit/

Extract: At its core, antitrust law says that to save competition, sometimes you have to limit it. Which is why the government’s recent decision to sue Google and Facebook is so significant. Simply by bringing these cases, the government will temporarily restrain the predatory instincts of Facebook and Google, which will be on their best behavior for the next five to eight years as the cases wind their way through the federal court system. More broadly, the cases will be seen as a legal shot across the bow of dominant firms in other highly concentrated industries — pharmaceuticals, telecommunications, financial services — who are now on notice that their nonstop acquisitions and hardball business practices could invite similar challenge.

Filing cases is one thing, of course, and winning them quite another — particularly given a steady stream of adverse rulings in recent decades from federal judges who, in the thrall of free-market ideology, have adopted an increasingly cramped and skeptical view of antitrust law. In prosecuting the Google and Facebook cases, the government’s lawyers will have to walk a fine line between “realism and ambition,” says William Kovacic, a former chairman of the Federal Trade Commission and now a law professor at George Washington University. Beating up on Big Tech is fun and easy. Restraining it will require rewriting the law.

At the same time, the prospect of even more intrusive regulation might prompt Facebook and Google to try to settle the antitrust cases in an effort to slow the momentum, or limit the scope, of the legislative initiative. Keeping a close eye on both the antitrust cases and the legislative debate will be the members of the Supreme Court, including six conservative justices who have a well-documented hostility to government regulation of business.

China launches antitrust probe into tech giant Alibaba

By Julie Zhu, Kane Wu, Cheng Leng

Reuters (December 24, 2020)

https://www.reuters.com/article/us-china-antgroup/china-launches-antitrust-probe-into-tech-giant-alibaba-idUKKBN28Y05T

Extract: China has launched an antitrust investigation into Alibaba Group and will summon the tech giant’s Ant Group affiliate to meet in coming days, regulators said on Thursday, in the latest blow for Jack Ma’s e-commerce and fintech empire. The probe is part of an accelerating crackdown on anticompetitive behaviour in China’s booming internet space, and the latest setback for Ma, the 56-year-old former school teacher who founded Alibaba and became China’s most famous entrepreneur.

It follows China’s dramatic suspension last month of Ant’s planned $37 billion initial public offering, which had been on track to be the world’s largest, just two days before its shares were due to begin trading in Shanghai and Hong Kong. In a strongly worded editorial, the ruling Communist Party’s People’s Daily said if “monopoly is tolerated, and companies are allowed to expand in a disorderly and barbarian manner, the industry won’t develop in a healthy, and sustainable way.” Regulators have warned Alibaba about the so-called “choosing one from two” practice under which merchants are required to sign exclusive cooperation pacts preventing them from offering products on rival platforms.

Key events behind China's investigation into Alibaba Group

By Reuters Staff

Reuters (December 24, 2020)

https://www.reuters.com/article/us-china-antgroup-timeline/key-events-behind-chinas-investigation-into-alibaba-group-idUKKBN28Y0A6

Extract: China has launched an investigation into Alibaba Group for suspected monopolistic behaviour and will summon its Ant Group to meet in coming days, regulators said, in the latest blow for Jack Ma’s e-commerce and fintech empire. Here’s a timeline of key events leading up to the investigation.

OCT 24 - “OLD MAN’S CLUB

At a public event attended by Chinese regulators, Ma, China’s richest man, said the financial and regulatory system stifled innovation and must be reformed to fuel growth. He also compared the Basel Committee of global banking regulators to “an old man’s club”.

OCT 31 - BEIJING FLAGS CONCERNS OVER FINTECH

China’s Financial Stability and Development Committee, a cabinet-level body headed by Vice Premier Liu He, flags risks associated with the rapid development of fintech, at a meeting that was widely interpreted as a government response to the rise of players such as Ant.

NOV 2 - REGULATORS ANNOUNCE TALKS WITH ANT

Four of China’s top financial regulators say they conducted regulatory talks with Ant’s top two executives and Ma. Chinese regulators recommend tighter regulations for online micro-lending companies to help contain potential financial risks and rein in rising debt levels.

NOV 3 - SHANGHAI IPO SUSPENDED; ANT FREEZES HK IPO

The Shanghai stock exchange suspends Ant’s IPO on its tech-focused STAR Market, citing the regulatory talks as a “material event” and a tougher regulatory environment as factors that may disqualify Ant from listing. The move prompted Ant to also freeze the Hong Kong leg of its dual listing.

DEC 14 - CHINA FINES DEALS INVOLVING ALIBABA, TENCENT

China warned its Internet giants it would not tolerate monopolistic practices and to brace for increased scrutiny, as it slapped fines and announced probes into deals involving Alibaba Group and Tencent Holdings.

人行論文提出將大型互聯網平台數據納入宏觀審慎管理

RTHK 2021-02-05

https://news.rthk.hk/rthk/ch/component/k2/1574367-20210205.htm

節錄：人民銀行發表文章，表示應將大型互聯網平台數據納入宏觀審慎管理，按照公共產品提供者實施相應監管，又建議整合有影響力大型互聯網平台的壟斷信息，有序納入徵信服務及徵信監管，將數據壟斷轉變成數據依法共用。人行官方微信號的金融消費權益保護局課題組署名論文建議，依法將大型互聯網平台的金融業務全面納入監管，增強業務信息披露全面性和透明度，提出將全部從事放貸業務的機構接入數據庫，全量報送借貸業務數據。文章說，大型互聯網平台消費者金融信息保護總體狀況不樂觀，在格式條款、信息收集及使用、行銷宣傳方面存在問題和爭議，要高度警惕大型互聯網平台過度逐利行為，尤其要注意對低淨值人群過度負債的誘惑及引發的風險。

市監局刊發網絡平台反壟斷指南

東方日報 2021-02-08

https://orientaldaily.on.cc/cnt/finance/20210208/00202_004.html

節錄：國家市場監督管理總局周日刊發《國務院反壟斷委員會關於平台經濟領域的反壟斷指南》（《指南》），也就是說該局於去年 11 月 10 日發布、觸發阿里巴巴（港股編號：9988）和騰訊控股（港股編號：700）等中資科網股股價暴瀉的那份監管草案，已正式生效。國務院反壟斷委員會辦公室負責人表示，《指南》出台的背景包括網絡平台經營者要求商家不得在對手的平台經營（二選一）、運用大數據和算法分析用戶從而收取不同價格等（大數據殺熟）、未依法申報實施經營者集中等等，涉嫌壟斷問題的反映和舉報與日俱增；又特別提到兩個月前舉行的中央經濟工作會議將「強化反壟斷」和「防止資本無序擴張」列為今年經濟工作的重點任務。

那麼一家網絡平台怎樣才算具備市場支配地位？《指南》提到，除了交易金額和宗數、活躍用戶規模、點擊量、使用時長等老生常談的指標，也會看企業控制上下游市場或其他關聯市場、阻礙或影響其他人進入市場的能力，亦會分析其他經營者對一個網絡平台的依賴程度。惟一家公司出現以低於成本價銷售、拒絕或限定交易、實施差別待遇等涉嫌濫用市場支配地位的行為，不一定即時是濫用市場支配地位，因為當局也會看背後有無「正當理由」，這些「走盞位」包括低價促銷是否在合理期限內為吸引新用戶而進行；限制交易是否為了保護消費者利益、知識產權、商業機密或數據安全等。另外，《指南》列明，即使是不予禁止的經營者集中，反壟斷執法機構亦可以設置若干限制條件，例如剝離有形資產、知識產權、技術、數據等無形資產、或相關權益；開放網絡、數據或者平台等基礎設施。

班農被控詐騙美墨邊境牆資金 出庭不認罪  

曾任美國總統特朗普戰略顧問

BBC 中文網（2020 年 8 月 20 日）

https://www.bbc.com/zhongwen/trad/world-53853637

節錄：曾任美國總統特朗普高級戰略顧問的史蒂夫．班農（Steve Bannon）被捕。班農被控為修建美國－墨西哥邊境圍牆籌款過程中涉嫌欺詐行為。與班農一同被指控的還有另外其他三人。美國司法部周四（20 日）說，班農等被告在籌款項目中「欺詐」數以十萬計的捐贈者，「我們築牆」眾籌項目總計募得 2500 萬美元。司法部說，班農獲得超過 100 萬美元，至少其中一部分用於他個人開支。「我們築牆」項目的創始人科法奇獲取 35 萬美元用於個人支出。以上四人面臨的指控包括一項共謀實施電信詐騙罪和一項共謀實施洗錢罪。每項罪名最高可判處 20 年監禁。班農以 500 萬美元獲得保釋，擔保金為 175 萬美元的現金或房產。在等待刑事審判期間，他將不被允許乘坐私人飛機、船隻旅行或出國。根據媒體報道，班農在康乃狄克州附近海域一艘價值超過 3500 萬美元的遊艇上被捕，該遊艇為中國流亡商人郭文貴所有。班農當日出庭時表示不認罪。他現已被保釋。班農是 2016 年特朗普在總統大選中獲勝的重要「功臣」，他的右翼反移民意識形態推動了特朗普的「美國優先」（America First）運動。

郭文貴受訪讚班農是「了解亞洲的西方人」

BBC 中文網（2017 年 12 月 10 日）

https://www.bbc.com/zhongwen/trad/chinese-news-42298317

節錄：正在美國尋求政治避難的億萬富翁郭文貴接受法新社獨家採訪時稱，他正在努力謀求實現中國的「政權變化」，在這個全球人口最多的國家實現民主。郭聲稱要在三年內實現這一目標。他還透露，將在 12 月底之前啟動一個全新媒體平台，曝光中共政權的缺陷。在過去幾個月時間裏，郭文貴在社交媒體上大量爆料，將矛頭對凖中國的一些富翁和當權人物。郭文貴在社交網站推特上擁有接近 48 萬粉絲。他說自己的賬戶在 10 月份的中共黨代會以來反覆遭到屏蔽。

郭在採訪中提到了一個令人意外的「盟友」—— 美國總統特朗普的前戰略顧問史蒂夫．班農（Steve Bannon），班農曾經呼籲華盛頓對中國發動「經濟戰爭」。郭文貴說，自己和班農這位前高盛投行家以及極右翼網站布賴特巴特新聞網（Breitbart News）負責人有過多達 10 次會面。「他（班農）是我見過的最好的國際政治專家之一。班農先生還是位數不多的真正了解亞洲的西方人。」郭文貴說。郭文貴曾在今年 10 月 10 日於個人推特主頁上高調公布自己和班農的往來。香港《南華早報》當時試圖聯繫郭文貴及班農，但「郭和班農的發言人均未對置評的請求作出回應。」此後郭文貴還多次在推特上發佈自己與班農會面的信息。

郭文貴和班農如何推動新冠病毒起源陰謀論

AMY QIN, 王月眉, DANNY HAKIM

紐約時報中文網（2020 年 11 月 20 日）

https://cn.nytimes.com/business/20201120/covid-misinformation-china/zh-hant/

節錄：班農指出，與閆麗夢不同，他不認為這是中國政府「故意釋放的」。但他一直在推動一個看法，即病毒是高風險的實驗室研究意外洩露出來的，他有意製造一場關於新冠病毒起源的辯論。「閆麗夢只是一個很小的聲音，但至少她是一個聲音，」班農說。閆麗夢聯繫的那名 YouTube 主持人叫王定剛（音），他與郭文貴關係密切，似乎是第一個傳播與候任總統小約瑟夫．R．拜登 (Joseph R. Biden Jr.) 的兒子杭特．拜登 (Hunter Biden) 有關的謠言的人。

郭文貴旗下的一個網站放大了杭特．拜登與一個虐待兒童的陰謀有關的毫無根據的傳言。這些傳言隨後被 Infowars 和其他美國邊緣媒體採用。班農、王定剛和郭文貴目前都在推銷總統大選被操縱的錯誤信念。大型科技企業已開始對這些謠言做出反擊，Facebook 和 Twitter 已試圖改善對平台上內容的監管。 Twitter 永久封殺了班農的一個帳號，因它違反了平台有關美化暴力的規定，班農曾在自己的播客上建議，應將聯邦調查局局長和美國頭號傳染病專家安東尼．S．福奇(Anthony S. Fauci) 博士的頭插在木樁上。閆麗夢通過班農和郭文貴的代表拒絕了多次採訪請求。王定剛也拒絕接受採訪，他稱《紐約時報》(The New York Times) 是「假新聞」。在一份通過律師發來的聲明中，郭文貴說，他只是對閆麗夢「站出來反對中共黑手黨，向世界公布新冠病毒真相」的努力提供了「鼓勵」。

Pressure grows on HSBC over Hong Kong activist Ted Hui 
By Louisa Clarence-Smith and Ben Martin, The Times, 8 February 2021

https://www.riskscreen.com/kyc360/news/pressure-grows-on-hsbc-over-hong-kong-activist-ted-hui

Extract: HSBC has come under fire from an international coalition of senior politicians over its decision to freeze the bank account of a prominent pro-democracy activist in Hong Kong. A group of more than 50 politicians including Sir Iain Duncan Smith, the former Tory leader, has written to Mark Tucker, chairman of HSBC, demanding that he unfreeze the accounts of Ted Hui（許智峯）and his family. Hui, 38, a former Hong Kong legislative councillor who fled to Britain, was accused by the territory’s authorities of misappropriating funds in charges relating to his crowdfunding campaign for lawsuits against police brutality. He revealed in December that HSBC had frozen his and his family’s bank accounts. HSBC, whose headquarters are in London, is under pressure after it supported a draconian security law imposed on Hong Kong by Beijing last year.

The international Inter-Parliamentary Alliance on China, a cross-party group of politicians pushing for democratic countries to take a tougher stance against Beijing, has written to Tucker saying that HSBC failed to give evidence of any court order or warrant sought by the police in freezing the accounts of Hui and his family. In their letter, seen by The Times, the politicians say it is “highly concerning” that Hui’s family members’ accounts are frozen, even though they are not subject to any charges. They warn that HSBC has “compromised clients’ assets and private property rights without regard to the law and due procedures”. Signatories include Kimberley Kitching, the Australian Labor senator who is chairwoman of the Senate foreign affairs, defence and trade references committee, and Uffe Elbaek and Katarina Ammitzboll, two Danish parliamentarians who the Hong Kong authorities are considering prosecuting for their role in Hui’s escape.

Collins Dictionary – Water Down　

https://www.collinsdictionary.com/dictionary/english/water-down

1. phrasal verb

If you water down a substance, for example food or drink, you add water to it to make it weaker.

He was careful to check that his suppliers were not watering down the product.

I bought a water-based paint, then decided to water it down even more.

2. verb

If something such as a proposal, speech, or statement is watered down, it is made much weaker and less forceful, or less likely to make people angry.

Proposed legislation affecting bird-keepers has been watered down.

安心出行（官方網頁）

https://www.leavehomesafe.gov.hk/tc/

記錄出行：1. 當你進入場所時，開啟應用程式，按「進入」並允許使用手機拍照的權限，然後掃描場所展示的特定二維碼。當你乘坐的士時，開啟應用程式，按「上車」並按「自動識別車牌」掃描貼在的士車內側、附有車牌號碼的黃色牌子或者直接輸入車牌號碼。2. 離開時，在應用程式按「離開」，有關出行記錄會被加密並儲存在你的流動裝置內。3. 出行記錄會在 31 天後自動刪除。

安心出行程式有助恢復正常生活

特區政府新聞網（2020 年 11 月 21 日）

https://www.news.gov.hk/chi/2020/11/20201121/20201121_152014_774.html

節錄：創新及科技局局長薛永恒：如果到訪過的場地有確診者的話，透過「安心出行」流動應用程式，便能夠及早知道，從而作出合適的應對，如自我隔離或檢測，甚至如果不幸感染的話，亦可以早日治療，從而大家可以同心做好抗疫。我很高興和大家做一個匯報，我們已經有超過 12,000 個場地，包括公私營場地已經參與計劃。今天來到荃新天地，我要特別感謝市區重建局，在韋總監的領導下，他們所有場地，包括與他們合作營運的場地，亦會使用我們的二維碼，讓香港市民可以做「安心出行」的數碼工作。同樣，我們亦得到信和集團，在黃主席的領導下，整個團隊的支持，已經有 170 個信和場地，包括工商大廈、住宅、酒店、遊艇會等等亦有「安心出行」的二維碼在當眼處，供大家使用。

【疫情第四波】

餐飲業或必須設安心出行 QR code　

有業界憂慮影響生意

香港經濟日報（2020-11-24）

https://inews.hket.com/article/2811097/

節錄：特首林鄭月娥今早會見傳媒時表示，食衛局稍後會交代將要求餐廳增設安心出行的二維碼（QR code），而現時仍以自願原則，鼓勵市民下載該應用程式。但有餐飲業界對於「被要求」增設，感到擔心，一旦發現患者曾光顧，食肆即時要停業，屆時要白交租和支付員工薪金。香港餐務管理協會會長楊位醒表示，若政府要強行餐廳參加都無辦法。但他認為，此舉「治標不治本」，只方便政府追蹤患者曾到訪的地方。他提出，政府要封邊境、進行全民檢測，以及強制任何到港人士 14 日隔離，才能根治問題。

【新型肺炎】

消息：初七後或重開堂食晚市、戲院

使用「安心出行」為必要條件要條件

2021 年 2 月 9 日

https://hk.news.yahoo.com/

節錄：《星島日報》引述消息指，政府很可能在年初七（18 日）放寬社交距離措施，包括晚市堂食、美容業及戲院有望重開。不過消息續指，安裝及使用「安心出行」應用程式是重開的必要條件之一。如未來一星期確診數字平穩，及源頭不明個案下降，政府很可能在年初七放寬防疫措施。當局擬按活動風險高低作決定，有多人接觸及除下口罩的風險較高場所，如酒吧、桑拿、卡拉 OK、派對房間等，重開機會較微。而食肆晚市堂食、美容業及戲院等則有可能重開，但安裝及使用「安心出行」是其中一個重開必要條件。

「安心出行」迄僅 52 萬市民下載

東方日報 2021-02-09

https://orientaldaily.on.cc/cnt/news/20210209/00176_029.html

節錄：港府早前推出「安心出行」應用程式讓市民記錄行蹤，創新及科技局局長薛永恒昨在立法會資訊科技及廣播事務委員會交代進展，指「安心出行」至今有約 52 萬名市民下載，逾 6.9 萬個場所展示二維碼。當局會因應疫情發展，積極考慮會否要求某些處所的使用者，例如食肆客人，掃描二維碼後才可進入，從而令防疫抗疫工作做得更好。

相關的文章：

宿命論

2018 年 1 月 11 日

http://xiaoshousha.blogspot.hk/2018/01/blog-post.html
節錄：喝過頭啖湯，賺過錢之後，以 Facebook (FB) 為首的新媒體開始走上舊媒體的老路，證據：間諜滲透、捲入權鬥、政治干預、商業壓力。新媒體的商業模式，本來是「自動導航」。優點：輕巧靈活，本小利大，刀仔鋸大樹。運作了十幾年之後，這套商業模式開始出現問題。結果是：原有的優點慢慢消失，越來越不好玩，賺大錢的最佳時機已成過去，需要考慮轉型，甚至是撤退。

Leapfrogging（蛙跳模式）

2017 年 11 月 10 日

https://xiaoshousha.blogspot.hk/2017/11/leapfrogging.html
節錄：如果你知道甚麼叫 Leapfrogging（中譯：蛙跳模式），應該不會覺得用支付寶吃飯、購物、叫車或嫖妓是「先進」，用現金付款是「落後」。新科技的滲透率高，並不代表某個國家「先進」。Leapfrogging（蛙跳模式）是西方商學院理論，意思是：發展中國家跳過較舊的科技，直接引入較新的科技，形成比西方發達國家更高的滲透率 (Penetration rate)。這種現象，常見於電訊或能源行業。

數碼貨幣 (Part 2)

2020 年 10 月 7 日

https://xiaoshousha.blogspot.com/2020/10/part-2.html

節錄：是一個借助新科技全面監控小市民的國家工程的一部份，又或者應該說是那個國家工程的不同面向（即：健康碼是醫療或交通層面＋數碼貨幣是金融或消費層面）。想像一下：植入晶片＋攞命國產疫苗＋有健康碼才可以出門以及去某個城市＋用數碼人民幣出糧並且要去指定的商店購買糧食和日用品＋用社會信用評分制度決定閣下是否可以使用公共資源以及得到那個級數的服務，加起來的綜合效果是甚麼，自己想。

健康碼 = 敲脚骨 + 分餅仔　

2020 年 6 月 20 日

http://xiaoshousha.blogspot.com/2020/06/blog-post_20.html

節錄：粵港澳三地互認「健康碼」是否官商（私營醫療系統）勾結發瘟疫財，兼且把市民的健康資料上繳國家（用來協助偉大祖國發展電子監控系統），小市民是否被迫看指定的醫生兼且交出個人私隱，用來換取穿梭三地的權利（一項閣下本來擁有的免費權利），自己想。讀到這裡，你應該明白，為甚麼紅色政客（提示：民建聯、工聯會）致力推動引入粵港澳三地互認的「健康碼」以及向特區政府爭取涵蓋中港家庭以及旅客。

金融中心的黑暗面

2020 年 1 月 15 日

https://xiaoshousha.blogspot.com/2020/01/blog-post.html
節錄：難怪小朋友在網上論壇這樣寫：「香港失去集資和走資的功能，令支共（中共）無法借錢還債，加速支爆 (China meltdown)。終極攬炒，玉石俱焚！香港失去最重要的戰略價值，但可以加快獨立的過程，那是我們唯一的出路！」從這個角度看，匯豐獅子遭逢火劫（提示：星火同盟），令藍絲大媽落淚，年輕黃絲卻處之泰然，當中的情緒落差，也就不難理解。

洗黑錢督數偽術

2018 年 4 月 14 日

http://xiaoshousha.blogspot.com/2018/04/blog-post_14.html

節錄：誇大收入或開支，是常用的洗黑錢手法。犯罪集團會把不見得光的黑錢分拆成很多份，然後動用大量的人頭（可以是欠高利貸的人或與黑幫有關係的小商戶）輸入銀行系統，再繞幾個圈子，透過不同的渠道，匯集至同一個戶口，又或者轉移至海外的離岸戶口。上述的例子，是把合法營商的收入和來歷不明的黑錢混合在一起，變成一盤合法的賬目。

雙軌制（四）

2011 年 11 月 20 日

http://xiaoshousha.blogspot.hk/2011/11/blog-post_20.html
節錄：當權者的如意算盤，是試圖擺個姿態，表達一點解決問題的誠意，但是不會觸碰到問題的真正根源（即是：地產霸權，基金公司的利益，中港兩地人口政策的差異）。究其原因，當權者也許是不想得罪某些在政治上有影響力的既得利益集團（例如：地產商），怕會遭到報復或者反撲，累及兒孫。自私動機，不難理解。民國奇書＜厚黑學＞中，這種處事方法叫「鋸箭法」。

廢話之都

2019 年 3 月 3 日

https://xiaoshousha.blogspot.com/2019/03/blog-post.html
節錄：那堆廢話其實是有立場的，一方面為既得利益者開脫，另一方面責備受害人，讓討論停留在最表面的層次，是建制派的語言。但是香港人好像渾然不覺，照樣掛在口邊，一如拜年時候講的祝頌語，用來應付某個場合，並非出自真心。

Endless Loop 

2019 年 8 月 23 日

https://xiaoshousha.blogspot.com/2019/08/endless-loop.html
節錄：當權者透過廢話或謊言或程序或規則，試圖把對手（反對派或弱勢社群）封印於惡性循環之內，消耗對方的耐性，迫使對方放棄爭取。佔上風的一方覺得，現有制度對自己有利，所以沒有必要讓步，也沒有打算跟對方展開談判，連見面都可免則免。只要對方跟遊戲規則玩，就永遠走不出迷宮。

10/02/2021