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Having struggled to adapt as consumers moved from desktops to smartphones,

Baidu languishes in 319th place; its erstwhile equals can gain or lose the equivalent of its entire market value of $45bn in a day or two.

None has set investors' pulses racing of late more than Meituan and Pinduoduo. The duo have much in common.

The shopping frenzy has boosted Pinduoduo's revenues by 44% year on year in the

first quarter, to 6.5bn yuan. The money comes from transaction fees and adverts

bought by merchants to have their offers promoted in the app.

From Sydney to Sydenham, fiddly regulations protect an elite of existing
homeowners and prevent developers from building the skyscrapers and flats thats that
the modern economy demands.

Does it make you want to exert yourself or limit your output to no more than is

needed to preserve your safety and career prospects?

这是会使你想尽力工作，还是会使你只付出保证你的安全和事业前途所需的努力。

How many times have you seen a bad leader produce disaster from what could have been a
triumph, simply because he or she refused to admit to— and change—a bad decision?

And although we all belong to organizations that

now sit firmly in the 21st century,

most of our approaches to consumer-behavior

change are stuck just as firmly in

the past.

When it comes to behavior, most of us are barking up the wrong tree. That's
because our efforts rest on a faulty assumption: that bad behaviors are the result
of misplaced intentions, and that behavior change happens when we change
intentions.

In other words, there are a lot of potential customers out there who are interested
in and willing to buy our products and services, but those desires simply don't rise
to the point of action.

A recent USA Today article related the
story of a creative Southwest Airline
mechanic who demonstrated his
commitment to customer service by going
the extra mile.

While it's easy to see achievements, other
powerful stories can come from near
misses that teach people that risk has its
rewards.

Even a failure makes a good story when it
is positioned to focus on the learning
experience derived from it.

The financial crisis did not kill off the trend. In Britain inflation-adjusted house
prices are roughly equal to their pre-crisis peak, while real wages are no higher. In
Australia, despite recent falls, prices remain 20% higher than in 2008. In Canada
they are up by half.

As a result, politicians focus on subsidizing marginal buyers, as Britain has done
in recent years. That channels cash to the middle classes and further boosts prices.
And it fuels the build-up of mortgage debt that makes crises more likely.

That's why we can say of some action, “That isn't like you,” or“It's so out of character.”

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