W2D3

地道表达

A local car hailing app, Didi Kuaidi, is waging a fierce（猛烈的） price waragainst Uber in several cities.

[ is waging…against]开展一场战斗

Eg. The robots are waging a fierce war against human in the American movie.

Executives from another rival carhailing app, Yidao Yongche, said last month that they are entrapped in a cash burning vortex

[are entrapped in…vortex]

Eg. Many people are entrapped in internet fraud.

China’s O2O sector is a Rmb10tn market that is only 4 per cent penetrated（渗透率）, and** grew 80 per cent year on year** in the first half of 2015.

[grew 80 per cent year on year ]同比增长80%

Eg. China’s export grew 7 per cent year on year in 2016.

Start-ups are busy raising funds from investors at ever more dizzying valuations, only to** plough them back into** subsidies.

plough（犁地；使额头起皱；开路；投资） them back into

Eg.He raised money and ploughed them into real estate.

*That experience has spawned worries in China about whether the same will happen once the era of “VC welfare”（风投福利） ends.

[spawned（引起，酿成） worries]

Eg. the spawning season.产卵期

You scale up the platform to 100 cities or 200 cities.

[scale up] 扩展，按比例增加

Eg. They scaled up the production repeatedly after 2010.

Services closely resemble each other.

[resemble] vt. 像……， 类似于……(等于 be similar to), resemble to sb/sth

Eg. My brother resembles me in looks.

专业知识

dot-com bubble

发生与1995-2001年的经济危机，在国家工业中互联网板块的股值先急速上涨后进入循环下跌。

HSBC

汇丰银行

VC

风险投资：由职业金融家投入到新兴的、迅速发展的、有巨大竞争力的企业中的一种权益资本，是以高科技与知识为基础，生产与经营技术密集的创新产品或服务的投资。

gig economy

指大公司逐渐裁员缩减规模，大部分的工作交给了自由职业者接活做或是小团队承包做了。

BDA

北京经济技术开发区

Airbnb

空中食宿是一家联系旅游人士和家有空房出租的房主的服务型网站，它可以为用户提供多样的住宿信息。

venture capital 风险投资

Venture capital (VC) is a type of private equity, a form of financing that is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential, or which have demonstrated high growth (in terms of number of employees, annual revenue, or both). Venture capital firms or funds invest in these early-stage companies in exchange for equity–an ownership stake–in the companies they invest in. Venture capitalists take on the risk of financing risky start-ups in the hopes that some of the firms they support will become successful. The start-ups are usually based on an innovative technology or business model and they are usually from the high technology industries, such as information technology (IT), social media or biotechnology.

private equity 私募股权融资（Private Equity，以下简称PE）是指通过私募形式对私有企业，即非上市企业进行的权益性投资，在交易实施过程中附带考虑了将来的退出机制，即通过上市、并购或管理层回购等方式，出售持股获利。