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Core Viewpoint - The event "The Crossroads of Luo Yonghao" highlights the challenges of crowdfunding in China, emphasizing that existing platforms are not true crowdfunding sites but rather exploitative in nature [1][2]. Group 1: Crowdfunding in China - Luo Yonghao asserts that there are no genuine crowdfunding websites in China, as familiar platforms like JD Crowdfunding, Xiaomi Crowdfunding, and Taobao Crowdfunding essentially exploit users [1][2]. - He defines a true crowdfunding site as one that provides tolerance, understanding, and support for technological innovation, allowing young people to experiment with novel ideas [1][2]. Group 2: Cultural and Legal Challenges - Luo discusses the cultural and national differences that hinder the establishment of authentic crowdfunding platforms in China, noting that failed projects could lead to accusations of illegal fundraising, lawsuits, or legal penalties for the platforms [1][2].