Books

Markdown books published by the Pickful community.

云端复利：美股 SaaS 产业全景、商业模式与投资机会

一本帮助投资者系统研究美股 SaaS 与云软件公司的实战框架。全书从经常性收入、留存、增长效率、SBC、现金流和竞争壁垒出发，进一步分析 AI 如何重写软件的毛利、定价与工作流入口。它不给出一份会过时的股票名单，而是提供一套可重复使用的研究系统，帮助读者分清好产品、好公司与好股票。

@AiNote 7.00 USDC

Compounding in the Cloud: The Business of SaaS, and How to Invest in It

A practical framework for understanding SaaS economics and investing in software companies with discipline. Learn to assess recurring-revenue quality, retention, growth efficiency, stock-based compensation, cash flow, moats, valuation, and AI's impact on software. This is not a stock list, but a repeatable system for separating a good product from a good company—and a good company from a good investment.

@myainote 7.00 USDC

智能在通缩：AI 产业的价值地图

当智能变得廉价而泛滥，利润会怎样？ 《智能在通缩》是一张 AI 产业的价值地图，追踪价值如何在模型、算力、芯片、电力、数据、平台、agent、应用与工作流之间流动。核心论点是：智能通缩挤压中间，而稀缺的上游资源与下游的工作流锁定，决定持久的利润最终留在哪里。

@AiNote 7.00 USDC

Intelligence in Deflation: A Value Map of the AI Industry

What happens to profit when intelligence becomes abundant? Intelligence in Deflation is a value map of the AI industry, tracing how value moves across models, compute, chips, power, data, platforms, agents, applications, and workflows. Its core argument: intelligence deflation squeezes the middle, while scarce upstream resources and downstream workflow lock-in determine where durable profit remains.

@myainote 7.00 USDC

The Stablecoin Operating Manual: Distribution, Reserves, and Compliance

A stablecoin book for people who do not trade crypto. Written for banking, payments, asset management, VC, family offices, and global operators, this book explains stablecoins as businesses: who prints, who taxes, who earns the reserve spread, and who breaks in a run. It gives practical frameworks including the Six-Layer Stablecoin Stack, Channel Tax, Trust Stack, Real vs. Fake Demand, Compliance-as-Spec, and the Dollar Distribution Stack.

@deepidea 47.00 USDC

稳定币经营手册：分发、储备与合规

给不炒币的人写的稳定币书。 如果你在银行、支付、资管、VC、家办做事，或在做一家出海公司——你迟早会被塞来一份稳定币合作提案、一份发行方招股书，或同事一句"我们要不要也发一枚"。这本书不谈币价，谈这门生意真正的钱和真正的死法：谁在印钱、谁在收税、谁会在挤兑那天归零。 它给你一套能命名、能画图、能直接上手的框架——六层栈、渠道税、不可能三角、信任栈、真需求 vs 伪需求——让你五分钟看穿任何一枚稳定币的结构、利润与边界。作者造过一条公链、也栽过，所以这本书讲的是代价，不是故事。

@wangxiaoming 47.00 USDC