紅色：主句主干? 藍色：從句主干? 黃色：從句連詞、關(guān)系代詞? 灰色：插入語、例句 ?粉色：同位語? 綠色：長難句分析? 紫色：詞根詞綴 ?（）：修飾成分，包括定語、狀語等? 下劃線：詞匯詞組? 高亮：連詞

A golden age of consumer convenience is passing

消費者便利的黃金年代正在過去

Growth strategy of on-demand services has become harder to sustain

按需服務(wù)的增長戰(zhàn)略變得難以持續(xù)

• golden age (of sth.) n. 鼎盛時期
• on-demand a. 按需提供的

Fwwd the baby on demand.

寶寶需要時再喂食。

on-demand service 按需服務(wù)

• sustain vt. 使....維持、持續(xù)下去

For viewers, one of the joys of Netflix has been the ability to gorge on hours (of top-class TV) (without ever encountering an ad).

對于觀眾來說，Netflix的樂趣之一就是能夠在看不到廣告的情況下享受數(shù)小時的頂級電視節(jié)目。

• viewer n. 電視觀眾
• Netflix 網(wǎng)飛

net + flicks (flix) = 網(wǎng)上影院

• gorge n. 峽谷

gorge on sth. 貪婪地吃某物

=guzzle

• top-class a. 頂級的

second-class a. 次等的

Now, the streaming giant is introducing a new subscription tier that runs adverts (alongside its shows) — albeit at a lower price point.

現(xiàn)在，這家流媒體巨頭正在推出一個新的訂閱等級，在其節(jié)目旁邊投放廣告——盡管訂閱價格更低。

• streaming n. 流媒體

streaming service/app 流媒體服務(wù)/流媒體app

• subscription n. 訂閱

subscription-based service 訂閱制服務(wù)

ad-based service 基于廣告的服務(wù)

• tier n. 級別，等級
• albeit conj. 盡管，雖然
• price point n. 價格點

The U-turn on something that had been anathema is the latest sign that the economics of the on-demand app industry are becoming stretched.

曾經(jīng)令人憎惡的事情發(fā)生的180度大轉(zhuǎn)彎是按需服務(wù)應(yīng)用行業(yè)的經(jīng)濟情況不好的最新跡象。

that引導(dǎo)的定語從句修飾something，that引導(dǎo)的同位語從句解釋說明sigh。

• U-turn n. 180度大轉(zhuǎn)彎

= about-face

• anathema n. 令人憎惡的事物
• economics n. 經(jīng)濟情況
• stretch vt. 消耗

We're stretched at the moment, otherwise we'd go.

我們目前手頭緊，否則會去的。

The instant gratification (once dished out by streaming, ride-sharing and delivery services) may become not only less instant, but also less gratifying.

曾經(jīng)由流媒體、拼車和外服服務(wù)提供的即時滿足可能不僅變得不那么即時，而且不那么令人滿意。

• gratification n. 滿足

gratify vt. 使...滿足

gratifying a. 令人滿足的

satisfaction/satisfy/satisfying

• dish out sth. 大量分發(fā)
• ride-sharing n. 拼車

ride-hailing/ ride-sharing service 網(wǎng)約車服務(wù)

段落大意：

引子：

對比網(wǎng)飛的前后轉(zhuǎn)變來引入整個行業(yè)的變化。

In recent years, Netflix, Uber, Deliveroo and the like have spoiled customers.

近年來，Netflix、Uber、Deliveroo和其他類似的公司都寵壞了客戶。

• like n. 類似的人、物
• spoil vt. 溺愛，嬌慣

From original, binge-worthy (and ad-free) dramas at a click, to rapid taxi shuttles and a buffet of global cuisines (delivered right to the doorstep) — all at minimal expense.

從點擊即可觀看的原創(chuàng)的、值得短期放縱（且無廣告）的電視劇，到快速的出租車和直接送到家門口的全球美食自助餐——所有這些都以最低的費用提供。

• original a. 首創(chuàng)的、獨創(chuàng)的
• binge n. （短時間的）放縱

binge eating 胡吃海喝

binge watching 刷劇

• X-worthy a. 值得X的

trustworthy a. 值得信任的

newsworthy a. 值得報道的

binge-worthy

• click n./v. 鼠標點擊
• shuttle n. 往來兩地的火車等
• buffet n. 自助餐；火車餐車
• cuisine n. 烹飪、風味、料理
• doorstep n. 門階

on sb's doorstep 在某人家門口

• minimal a. 極少的，最少的

maximal a. 最大的，最高的

In a period in which real wage growth stagnated, low-cost apps made us all feel better off.

在實際工資增長停滯不前的時期，低價應(yīng)用程序讓我們感覺更好。

• real a. 實際的，按購買力折算過的

nominal a. 名義的

• stagnate vi. 停滯，不發(fā)展
• be/feel better off 更滿意、幸福

段落大意：

各式各樣的按需服務(wù)寵壞了消費者，通脹率居高不下的背景下，低價的app讓大家感覺更好。

A decade of cheap cash also stoked an investor boom (in the on-demand economy), which subsidised content, rides, and deliveries (at below cost prices) (to drum up demand).

過去十年的低息貸款也助長了按需服務(wù)經(jīng)濟的投資熱潮，它以低于成本的價格資助內(nèi)容、網(wǎng)約車和外賣領(lǐng)域，以刺激消費者需求。

which引導(dǎo)定語從句修飾boom。

• cheap cash 指低息貸款
• stoke vt. 助長，加劇
• boom n. 貿(mào)易/ 經(jīng)濟繁榮

a property boom 地產(chǎn)市場迅速發(fā)展

• subsidise vt. 給...發(fā)津貼、資助
• cost price n. 成本價
• drum up sth. 兜攬生意

Investors betted the strategy would eventually garner large market shares, far outweighing the early losses.

投資者押注該策略最終將獲得大量市場份額，遠大于早期的損失。

• garner vt. [正式] 獲得，得到
• market share n. 市場份額
• outweigh vt. 重于，大于
• growth first, profits later 先增長，后盈利

段落大意：

過去十年的投資熱潮大大激發(fā)了市場需求。

With interest rates rising, investor cash and optimism are dwindling.

隨著利率上升，投資者的現(xiàn)金和樂觀情緒正在減少。

• interest rate n. 利率
• dwindle vi. 減少，變小

Providing slick services (at unbeatable prices) is much harder.

以無可匹敵的價格提供吸引人的服務(wù)要困難得多。

• slick a. 吸引人的

The brands are backed by slick advertising.

這些品牌有華美的廣告做后盾

• unbeatable a. 無可匹敵的

Prices need to go up, costs need to fall, and new revenue streams need to be found to keep investors engaged.

價格需要上漲，成本需要下降，并且需要找到新的收入來源以保持投資者的參與。

• revenue stream n. 收益流

Hence the quest for advertising revenues (by Netflix, Disney Plus and other streamers).

因此，Netflix、Disney Plus和其他流媒體尋求廣告收入。

• hence ad. 因此，由此

He was a tiny, sight figure, hence his nickname, 'the Little Wonder'.

他身材瘦小，“小奇人”的綽號由此得來。

hence = which leads to

在上面的例句中，hence約等于定語從句結(jié)構(gòu)which leads to，這也是其最常見的用法，連接原因與結(jié)果。文中的hence直接引導(dǎo)了一個句子，且這個句子中成分并不完整（只有名詞，沒有動詞），在規(guī)范的英語寫作中是很少出現(xiàn)的（《金融時報》的風格指南可能允許這種寫法），我們自己寫的時候（尤其是正式的論文寫作）要盡量避免

• quest n. 探索，追求

quest for sth. 對某事的追求

• streamer n. 直播主播

Uber’s road to profit (after over a decade of losses) has (in part) been paved (by rides becoming more expensive).

在經(jīng)歷了十多年的虧損之后，Uber的盈利之路在一定程度上是由更加昂貴打車費用鋪就。

• the road to sth. 通往某物的路

It was this deal that set him on the road to his first million.

正是從這筆生意開始，他掙到了第一筆100萬。

• in part 部分地

= partly

• ride n. 短途旅程

段落大意：

利率上升的背景下，想賺錢就得提高價格、降低成本、尋找新的收入來源。

Higher living costs also make the on-demand business harder. Consumer appetite is under strain, putting pressure on subscriptions.

更高的生活成本也使按需業(yè)務(wù)變得更加困難。 消費者的欲望萎縮，給訂閱帶來壓力。

• strain n. 壓力，重負

be under strain/ pressure 處于壓力之下

The boost (provided by the pandemic), when people were locked down and barred from restaurants and cinemas, has passed.

封城并被禁止人們進入餐館和電影院的疫情促進的增長已經(jīng)過去。

• boost n. 增長，激勵
• lockdown n. 封城

Netflix amassed over 36mn subscribers in 2020, but holding on to them, and attracting more, is harder.

Netflix在2020年積累了超過 3600 萬用戶，但要留住這些用戶并吸引更多用戶要更加艱難。

• amass vt. 積累，積聚
• subscriber n. 訂閱者，消費者
• hold on to sth. 保住，守住

The soldiers held on to the bridge for three more days.

士兵們又把這座橋守了三天。

A cache of TV shows and fast takeaways seem more like a luxury as inflation erodes real spending power, as reflected by Deliveroo’s widening losses (in the first half of 2022).

隨著通貨膨脹侵蝕實際購買力，大量電視節(jié)目和快捷外賣似乎更像是一種奢侈品，正如Deliveroo在 2022 年上半年不斷擴大的虧損所反映的那樣。

• cache n. 隱藏物，藏匿物
• erode vt. 蠶食，侵蝕
• spending power 消費力

purchasing power 購買力

段落大意：

生活成本的增加也是目前按需服務(wù)面臨危機的原因。

The money (thrown into the convenience economy) has also created a crowded marketplace.

投入便利經(jīng)濟（指按需服務(wù)行業(yè)）的資金也創(chuàng)造了一個飽和的市場。

• crowded a. 擁擠的

saturated a. 飽和的

Couch potatoes can choose (between Netflix, Amazon Prime, Disney Plus and others, and a glut of ultrafast delivery and takeout services); ride-seekers can switch (between Uber, Lyft and Bolt).

電視迷可以在Netflix、Amazon Prime、Disney Plus 等平臺以及大量的外賣服務(wù)之間進行選擇； 拼車者可以在Uber、Lyft 和 Bolt之間切換。

• couch potato n. 電視迷
• glut n. 供過于求

= oversupply

• ultra-X a. 超越X的

ultrafast a. 極快的

ultra-cautious a. 超謹慎的

ultraman n. 奧特曼

Streamers are starting to drip-feed episodes, to prevent consumers from devouring entire series then quickly cancelling direct debits.

流媒體開始一點一點地播放劇集，以防止消費者一口氣看完整個系列然后迅速取消扣款。

• drip-feed vt. 一點一點給與

= drip（一滴）+ feed（喂養(yǎng)）

• episode n. （電視節(jié)目的）集
• devour vt. 狼吞虎咽；如饑似渴地看/ 讀
• direct debit n. 直接借記、扣款

Switch to paying your mortgage by direct debit.

改成用直接借記方式償還抵押貸款吧。

Competition would generally be expected to boost quality (across the industry), but it also means more user time (wasted screening various apps), and potentially multiple subscription bills.

競爭通常會提高整個行業(yè)的質(zhì)量，但這也意味著更多的用戶時間浪費在篩選各種應(yīng)用程序上，并可能會產(chǎn)生多份訂閱賬單。

• screen vt. 篩選，篩查
• bill n. 賬單

段落大意：

行業(yè)內(nèi)卷也導(dǎo)致了消費者體驗大幅下降。

Regulation is kicking in, too. A UK Supreme Court ruling (last year) means Uber’s drivers are now considered workers, with the added costs of minimum wage, pensions, and holiday pay.

監(jiān)管也在啟動。去年英國最高法院的一項裁決意味著優(yōu)步的司機現(xiàn)在被視為工人，并增加了最低工資、養(yǎng)老金和假期工資的成本。

• kick in 開始生效

= take effect

• UK Supreme Court n. 英國最高法院
• ruling n. 裁決，判決
• pension n. 養(yǎng)老金，退休金
• holiday pay n. 休假工資

Similar rulings elsewhere are increasing pressure (on gig-economy companies) (to raise pay and benefits for workers).

其他地方的類似裁決正在增加零工經(jīng)濟公司提高工人工資和福利的壓力。

• gig economy 零工經(jīng)濟
• benefit n. 補助金，津貼

housing benefit 住房補貼

unemployment benefit 失業(yè)金

Competition (for drivers (between ride-sharing apps) also portends higher wage, and ultimately price, pressures — not to mention longer waiting times.

打車軟件之間對司機的競爭也預(yù)示著更高的工資、最終的價格和壓力——更不用說更長的等待時間了。

• portend vt. 預(yù)示，預(yù)兆
• not to mention 更不用說

段落大意：

行業(yè)監(jiān)管也會導(dǎo)致消費者便利度大大下降。

When cost of living pressures finally ease, consumers may (once again) be willing to pay higher prices and reopen closed subscriptions.

當生活成本壓力最終緩解時，消費者可能再次愿意支付更高的價格并重新開放已關(guān)閉的訂閱。

Meanwhile, consolidation, casualties, and bundling could yet change dynamics (in the industry).

與此同時，合并、破產(chǎn)和捆綁銷售未來遲早會改變行業(yè)動態(tài)。

• consolidation n. 合并，結(jié)成一體
• casualty n. 傷亡人數(shù)
• bundle vi. 捆綁
• could/might yet do 未來遲早會
• dynamics n. 動態(tài)，互動方式

He did research on group dynamics and leadership styles.

他研究群體互動和領(lǐng)導(dǎo)風格。

Either way, the multiyear summer (of cheap and easy consumer convenience) looks (for now) to be a thing of the past. It was good while it lasted.

無論哪種變化，多年的便宜又方便的消費者便利的夏天現(xiàn)在看起來已經(jīng)成為過去。當它還在的時候是很好的。

• a thing of the past 明日黃花

段落大意：

作結(jié)：

無論如何，已經(jīng)持續(xù)多年的消費者便利時代可能一去不復(fù)返了。

看到這里的姐妹給自己點個贊吧，不用給筆記投幣~~