After the failure of his smartphone venture, Luo Yonghao was left with a debt of 600 million. With no way out, he reached out to his good fren Feng Tang and said, "I want to do live streaming to pay off my debt." Feng Tang replied, "If you rely on that little money you earn from live streaming to pay off your debt, it will take at least 10 years. Let me teach you a method that guarantees you can pay it off in 3 years."

In 2018, Luo Yonghao's Smartisan Technology owed 600 million, and on November 3, 2019, Luo Yonghao was restricted from high consumption, becoming part of the group of debtors. At that time, his wife, Chai Jing, was his strong support, choosing to face it together with him. Luo Yonghao said that he was most fortunate to have found a good wife.

It's impossible for Luo Yonghao to become a deadbeat and flee to the United States. He is a real man; to pay off his debts, he disregards his reputation. What can he do to make money? Anything as long as it's not illegal. A middle-aged man is also fighting for his life to pay off his debts!

Even openly advertising on the show, all kinds of business related to weddings, funerals, and other events can be accepted, with debt repayment as the priority.

Writer Feng Tang and Luo Yonghao are good frens, and Feng Tang is also an angel investor in Luo Yonghao's entrepreneurial project, Old Luo English; after Luo Yonghao accumulated a debt of 600 million, he sensed a business opportunity during a live broadcast and tried to repay the 600 million debt in this way.
But Feng Tang warned him: the era of making a profit by selling goods at a markup is over. Even if there are many buyers, it will take you at least six or seven years to pay off 600 million in debt. If you follow my advice, I guarantee you can pay it off within 3 years.

With the help of Feng Tang, Luo Yonghao registered two companies, "Starry Sky Ambition" and "Making Friends". Taking advantage of the live streaming e-commerce trend, Luo Yonghao leveraged this opportunity to boost the popularity of both companies. At the same time, Feng Tang seized the chance to hype up and raise the company's stock price. When Luo Yonghao himself became a sensation across the internet through live streaming sales, the valuation of his companies also continued to rise.

In November 2020, Shangwei Co., Ltd., which specializes in cables, acquired 40% of Chengdu Starry Sky's shares for 589 million. And Lao Luo relied on that 40% stake to pay off nearly six hundred million in debt, whereas selling goods might indeed be, as Feng Tang said, never enough in this lifetime. Luo Yonghao once commented on Feng Tang that there is an old Chinese saying: "the bird that sticks its head out gets shot," but some birds come into this world to do what they are meant to do, rather than just to dodge bullets. $SOL
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