下游的优势在于市场想象空间巨大，估值弹性高，一旦实现技术突破，有望获得垄断性收益。但风险远高于上下游：盈利周期极长，预计要到2030年才能实现现金流转正；技术路线失败率高，类似Meta元宇宙投入效果不佳的案例并不少见；且资本依赖性极强，一旦融资环境恶化，将直接冲击企业生存。
Runaway immigration can have its economic downsides. The Deloitte report noted that a large and sudden influx of immigrants can strain local and state-level budgets, while some research has found that immigration waves can lead to a short-term rise in housing prices. A 2025 Penn-Wharton analysis of the economic effects of Trump’s sweeping deportations also reported some potential wage benefits. It found that a 10-year campaign targeting unauthorized immigrants could lead to a 5% wage gain for low-skilled authorized immigrants and native-born Americans owing to less competition.
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