At present, the science and technology innovation board has received a high degree of policy and market attention. The introduction of the registration system of science and technology innovation board is to let those high-tech, cutting-edge and new technology enterprises that do not make money go public. Whether it is a unicorn enterprise or a new enterprise, it is difficult to enter the real profit state in the early stage. Maybe our future life needs these enterprises to change. Because it is difficult to analyze unprofitable enterprises in the early stage with fair value, it is inevitable that there are some mixed fish and dragons. Even professional venture capital circles have very high investment risks. What about retail investors? It is too risky to engage in venture capital without going through the primary market. Fortunately, science and technology innovation board made reference to the threshold of stock index futures and set a threshold of 500,000 yuan (referring to the fact that 87% of the investors in Shanghai and Shenzhen stock markets were turned away), but this threshold may also lead to the hidden danger of insufficient liquidity in science and technology innovation board. We have a mass grave of the New Third Board and a successful Growth Enterprise Market, so what is science and technology innovation board? It's Nasdaq in China. Is it a dark horse in the stock market or a beggar version of the prince? These questions need time to answer.