This article will sort out and record the chaos in the entire P2P industry, as well as the logical argument why the P2P model cannot be fully established in China. This article is an exposition of P2P systemic risks and a tribute to that frenzy era. With the collapse of the group loan network, Hongling Ventures announced fax number database its liquidation, and the P2P industry in 2019 is unstable again. On April 28, 2019, 33 executives including Wei Jie, the actual controller of the parent company Jincheng Group, were taken away by the police on suspicion of illegal fundraising. If it is an old reader of my Zhihu period and someone who has bought my live, it should be very clear that in the past three years. I have always adhered to the attitude of ordinary people to touch the domestic P2P market cautiously, and it is best not to touch it, because this industry There is systemic risk. Of course, talking about P2P publicly comes at a price. Every P2P company that I have publicly attacked has sent me a lawyer's letter and even fax number database an indictment, but these dozens of lawyer's letters are my honor. Because none of them survived to hear my lawsuit, the one closest to me is Tuandai. which was 4 months behind, and cost me a lot of legal fees in vain, which is a pity. During this time, the supervision began to promote the filing of P2P - high standards, strict requirements, and the protection of investors' rights and interests. After this round of filing is over, only truly powerful giants will exist in this fax number database market, and most small and medium-sized institutions will be expelled from the market. This industry really needs a high threshold. It can be said that the P2P game has come to an end, and it is still unknown who will win, but what is known is that the number of surviving institutions will not be many.