In the Age of Agents, Who Is Your Infrastructure Built For?

MiniMax's market cap has surpassed Baidu's. I think this was inevitable. Baidu did something fatal to the entire industry: it blocked the flow of knowledge. From both an individual and industry perspective, this company is a massive obstacle. What Search Engines Should Do Search engines don't produce knowledge. People write things online; search engines send crawlers to collect this content, aggregate it, and make it easy for others to find. It's just a pipe. In the PC era, this pipe worked well enough. People opened browsers, typed keywords, and viewed web pages. Baidu did indeed monopolize Chinese search during that phase. The mobile internet era changed everything. Baidu Fell Behind in the Mobile Era In the mobile internet era, users no longer just opened web pages. Countless apps needed information and search capabilities, but these apps weren't humans viewing web pages—they were programs calling APIs. Essentially, the paradigm shifted from human-centric to device-centric and app-c