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00:00Police is screwed, there's riots everywhere, taxes are going through the roof, an absolute
00:05raid.
00:06It's a gang bang.
00:07I asked Karl Hartley, is it easier to sell one Bugatti or 20 Fords?
00:11And he said it's way easier to sell one Bugatti.
00:14Money is an infinite resource because the government can print trillions on demand.
00:20Wars, lockdowns, hit the button, print trillions.
00:23Whatever the banks say, we look after your pension, help you save.
00:28These are all lies.
00:29The best way to make more money.
00:37The UK doesn't have any resources.
00:39It sold off the assets that it did have.
00:42But it could become like Dubai.
00:44Like if it embraced tech.
00:45It actually just rejected 120 billion of AI investment.
00:52I mean, how crazy is that?
00:53If I'm running the UK, I'm going to invest loads of money into AI and tech.
00:58I'm going to invite all of the big entrepreneurs across the world to come and invest into the
01:03UK.
01:04I'm going to give them loads of tax breaks.
01:06I'm going to give them good returns.
01:08And I'm going to build something in the UK that the rest of the world wants to pump money
01:12into.
01:13And that could be a trillion pound income stream for the country.
01:18Or they could encourage all small businesses to grow and employ and produce.
01:24And that could be a trillion dollar pound income for the country.
01:29Or they could take an extra 5% tax off the billionaires and the massive corporations.
01:35And that could be a trillion pound or dollar income stream for the country.
01:39But oh no, all they do is tax us more.
01:42Would you ever move to Dubai?
01:43Yeah, I would move because I'm kind of over the UK.
01:48If my mum and dad weren't alive and I didn't have my family and this team and organisation
01:57here, I would have gone probably four years ago.
02:02I'm just waiting.
02:03Well, I'm not waiting, I want my mum and dad to be here for a long time, but I'm not hanging
02:09around here anymore.
02:10It's sad.
02:11It's sad to say, but do you know knife and female assault and rape?
02:18The convictions are about 4%, which basically makes those crimes legal, pretty much.
02:25You can't get in the NHS unless you die.
02:28So then you've got to pay for private healthcare, which therefore becomes much more expensive
02:34because it's in demand.
02:35I mean, I don't know if you've been to the dentist recently, but private dentists raking
02:40it in because you can't get in in the NHS.
02:43So the police is screwed, the NHS is screwed.
02:46There's riots everywhere, which of course the taxpayer will have to pay.
02:50They're killing business, taxes are going through the roof, Labour have come in.
02:55You know, they're trying to make all of these employee rights so you can't let a staff member
03:00go even after day one.
03:02They're VAT tax on school fees.
03:05They're trying to put capital gains tax at 20% up to the income tax level.
03:10It's just an absolute raid.
03:13It's a gangbang.
03:15Sounds like a good time.
03:16It's not a good time.
03:18It's a gangbang that you don't want to be in the centre of.
03:21That's exactly what it is.
03:24Might be good for you, no.
03:25You want to be in Dubai looking from the outside in.
03:27Yes.
03:28Where they encourage entrepreneurship, where they keep taxes down, where they support businesses.
03:34Yeah, well, me and my girlfriend was in Dubai this year and around the marina and it seems
03:41very late.
03:42Everyone has dinner really late and we must have been out around 11.
03:44And the amount of girls or young women by themselves just jogging or whatever, you would
03:50never get that at 11pm in central London.
03:54Just people by themselves, chilling, like no problem at all.
03:57Nobody was bothering them.
03:58Nothing.
03:59Yeah, you can leave your watch on the desk.
04:02You can leave your phone on the table.
04:04Yeah, I mean, there's really not enough punishment for crime.
04:09Also, the prisons are overrun, so they're letting a load of the criminals back out.
04:13I mean, all of this stuff is...
04:15No wonder there's riots on the streets at the moment.
04:17All right, next misconception.
04:18You need to increase your income to become rich.
04:21No, you need to reduce your expenses first.
04:24Because if you increase your income and expenses relatively, it's called lifestyle creep.
04:31Most people, they earn more money, they've already spent it.
04:34So you need to increase your income, but lock your expenses down.
04:39Then when you increase your income, you've got more tax to pay.
04:41So then you've got to figure out how to get your tax bill now.
04:44And I suppose if you use your income and you keep your expenses low and you used to buy
04:48an asset, your income could stay the same, but the capital appreciation of that over
04:52the years, you become rich.
04:54Yeah, I mean, there's one thing for sure.
04:56If you go back to 1952, house prices were under two grand and now they're quarter of
05:02a million pounds.
05:03If you track gold and silver and any asset class back far enough, they go up five, six,
05:098% a year or in Bitcoin's case, apparently no one in a four year period has ever lost
05:14money in Bitcoin.
05:15It's always gone up and you could be 40% a year at times with Bitcoin.
05:21So really you want to hold assets forever and live off the income and keep your expenses
05:30down and don't have lifestyle creep and then have a company where most of your expenses
05:38that you can run through a company to reduce your tax bill so you don't pay twice, golden
05:44rule just to remember, if you pay it after tax, you've paid for it twice because it cost
05:50you twice as much.
05:51That was my mental thing I had to switch in my head when going from an employee to owning
05:56a company was that's how I almost convinced myself to do the jump was, well, actually
06:01even if I am a fair bit less in my first year, my take home is going to be the same anyway.
06:07So it almost was like, oh, there's no risk, just fucking do it.
06:10Well, there is a risk because you've got no guaranteed salary, but when you work out the
06:16gross versus the net, because when you start a company, you need your laptop, you need
06:21a phone, you need some cameras, you know, you need a computer, you need all this hardware
06:26and that can all be bought through the business, which means on that amount of money that you
06:32earn, you can offset the expenses of the hardware and you can depreciate it.
06:39And there are little ways where you can draw certain amounts of initial income without
06:45paying the big income tax bracket, always speak to an accountant.
06:50But if you juggle that first 50, 60 grand, you can get the tax bill down a fair bit.
06:56Yeah, I think again, I'm not an accountant, but roughly between salary and dividends up
07:01to about 50k, you barely pay any tax on really, at least in an unlimited company in the UK.
07:08And then if most of your expenses are run through the company, you've got your personal
07:12expenses down because back to your question about how to get rich, it's the gap between
07:19your expenses and your income.
07:21So your income doesn't have to be huge.
07:23If your expenses are low, your income has to be huge if your expenses are high.
07:27So when you attack the income to go up, that's fine.
07:33But if you earn 10, you might net five.
07:38If you own a company and you sell 10, you might net two or three.
07:42Whereas when you save one, you save the whole one.
07:48Top tip on becoming rich, earn an average salary in the UK, move to Thailand.
07:52Right.
07:53Okay.
07:54I went there, I was like, oh, okay, this is what it's like to be a billionaire.
07:57At least buy Thailand then.
07:58Yeah.
07:59At least the South.
08:00Yeah.
08:01Yeah.
08:02Yeah.
08:03Most of it.
08:04All right.
08:05Credit cards are always bad and should be avoided.
08:06Credit cards are great if you pay them off every month and run all your ad accounts through
08:12your credit cards.
08:13I know you cheekily tried to get me to run my hundreds of thousands of pounds worth of
08:17ad accounts through your credit card.
08:19Only a portion of it.
08:20Yeah.
08:21Not the whole lot.
08:22So if you can rack up your air miles and rack up your cash backs and rack up all of your
08:26benefits and bonuses on a credit card, that is very powerful.
08:32Also, you've got better insurance and the bank takes a risk with the credit card, whereas
08:38if you do it by debit card, you could be taking the risk, but only if you pay it off every
08:43month.
08:45Buying a house is always better than renting.
08:48Buying a house is only better than renting if you know where you want to live, if you
08:52want to stay there for 10 years plus, if you want to raise a family, if you know all the
09:01tax breaks and if you buy well and add value.
09:09Otherwise, if you're young, if you want some flexibility, if you don't want a massive overhead,
09:18you should probably rent.
09:20Next misconception, you should focus on paying off all your debt before investing.
09:26True or false?
09:28False, depending on the cost of debt.
09:32If the debt is more than the likely return, you should pay off the debt.
09:39If the debt is less than the likely return, you can invest and use the asset to pay off the debt.
09:48If you can leverage and create more debt to buy an asset, like a loan to buy a property,
09:56you can use the income from the rental and the tenant to pay off the debt.
10:03I find as well, and perhaps you do as well because you've mentored a lot of business
10:08Why do people sell their stuff so cheap when they're starting off?
10:12Because they don't believe that people will buy it from them.
10:16And they don't believe people will buy it from them because they don't believe they're
10:20good enough.
10:22And maybe they think that they're new and they'll feel like an imposter or a fraud or
10:29people will find them out or you're selling your products and services and you've only
10:32just started and you're no good at this and they look at other people who've been doing
10:36it longer and they're like, well, why would anyone come to me if they can go to them?
10:43But everything is based on value.
10:48So you could buy a £50 digital cheap watch made in Japan and it could break in a week
10:55and you could feel ripped off.
10:57You could buy a Patek Philippe for £50,000 and you could give it to your son who you
11:03didn't even know you were yet going to have.
11:06And you could feel gratitude and value in a £50,000 watch that goes down your bloodline
11:12and you can feel ripped off by a cheap plastic digital watch.
11:17So it's all about, well, it's actually not about value, it's about perceived value.
11:23So if you're struggling with your pricing and you're under selling yourself, create
11:28more value, give more, do more, serve more.
11:32The great advantage you have when you start a business is you can care and you can make
11:38things bespoke and you can be more personal and you can add that extra level of service
11:44that you can't when you're a billionaire because you just can't reach all of your buyers and
11:49your customers.
11:50So focus on that, focus on going the extra mile, doing more, caring more.
11:55People always pay more for bespoke and people always pay more for service.
12:00So I suppose if you're the biggest, your advantage is we are the biggest, we are the
12:05best, we've got the most case studies and testimonials.
12:07Scale proof.
12:08But if you're the new one, your advantage is we are small and we are therefore boutique,
12:13bespoke and we care about our customers more.
12:15Essentially, those are the arguments you would make in your messaging.
12:18Yeah, so there's always an argument for why you are better even though you are less experienced.
12:27As long as you're a step ahead of them, don't teach people how to buy real estate if you've
12:31never bought any real estate.
12:33But if you've bought five buy to lets, then you can teach people how to go to buy their
12:39first five.
12:40And by the time they bought five, you'll be at 10.
12:42As long as you're a step ahead of them, then that's something that you can teach yourself.
12:47But in the world of watches, a one of one can sell for millions of pounds.
12:54So let's say you make a product.
12:56Why don't you make one of ones or small numbers, but for high quality for people with a lot
13:05of money?
13:06I asked Karl Hartley, is it easier to sell one Bugatti or 20 Fords?
13:11And he said, it's way easier to sell one Bugatti because they're easier to sell to.
13:17They know what they want.
13:18It's just one.
13:21Whereas 20 Fords, I've got to sell 20 of them.
13:23The clients might nickel and dime me and try and get it cheap.
13:27I've got 20 times less chance of something going wrong if I'm selling one 20th.
13:34And they've already got the money and they'll probably buy three.
13:37When you uploaded that, the comment section, I've always been like, oh, obviously it's
13:41the 40.
13:42Doesn't know what he's talking about.
13:43Well, it kind of does, clearly haven't done your research, but it's true.
13:47I always find the people that are on the lower end of pricing, let's say, they want to know
13:53everything.
13:54But not only that, they then question everything you then tell them.
13:57And it's always, they want the world and they want everything of you.
14:01So for example, when we first started and I might do some consultations with clients
14:07or whatever, it's like, if the Zoom calendar said 30 minutes, I must have 30 minutes of
14:11your time.
14:13Whereas a lot of our clients now is we'll jump on a Zoom, it automatically generates
14:16as half an hour, but six minutes in and I've got everything I need, I'm off now.
14:21Because their time is valuable and they paid more and I get more time than when I was dealing
14:27with the more broke people.
14:29Yeah.
14:30The best way to repel broke people is to increase your fees.
14:33I mean, it's so common.
14:36I mean, it's such common sense, but it's obviously not common.
14:39I think people are scared of losing clients, but you should want to lose the wrong types
14:44of clients.
14:45No two client has the same cost to you.
14:47No two tasks have the same value.
14:49You could have one client who gives you 30 grand and cost you virtually nothing.
14:54No customer service, no headache, refers people, really grateful, no bother.
15:00Then you can have a client who wants that same 30 grand product for 10 grand, always
15:05in your customer services department, calling you up all the time, massive maintenance,
15:10and then probably wants a refund at the end of it and wants to keep everything.
15:13So the best way to make more money other than to create greater value is to increase
15:22the price.
15:24And people say they can't increase the price.
15:28There's nothing stopping you increasing the price other than you.
15:33Your point on perceived values actually really landed with me because you mentioned Ponzi
15:38schemes.
15:39That is perceived value.
15:40They thought they were getting returned, therefore they will keep ploughing money into
15:44it.
15:45And I see this with information as well.
15:47You could sell a course, for example, and in one person's hands that information might
15:53do nothing.
15:54In somebody else's hands, it could be worth hundreds of millions, like your old boss who
15:59paid for you to do speaker training.
16:00There's probably people in that training that did sweet FA with that.
16:04And yet you've built this company into 250 million pounds off the back of your speaking
16:08skills.
16:09Yeah.
16:11I have nothing else to add.
16:13Wonderful.
16:14We'll move on.
16:15Okay.
16:16You need a lot of money to start investing.
16:18You do not need money to start investing.
16:21You need knowledge, resources and contacts.
16:26You can start investing for a very small amount of money.
16:29I can't say because I think we've run a little competition in the comments for guessing how
16:34much silver is here.
16:37But money is an infinite resource because the government can print trillions on demand.
16:43Wars, lockdowns, hit the button, print trillions.
16:47Money is an infinite resource.
16:49Money goes to value.
16:53If you think something is valuable to you, you'll exchange the amount you perceive it's
16:59worth.
17:01You will buy from me what you deem to be valuable equal to the amount of money you perceive
17:08of its value.
17:10So there is no limit to how much money you can make.
17:14The only limit is how much value you create.
17:16The more value you create, the more money you make.
17:20What's the biggest lie banks tell us all about money?
17:23That saving will look after your retirement.
17:28That we look after your money and your future.
17:33I remember going into the bank and I'd had a bit of a windfall.
17:38And I walked in and there was someone at the desk in Barclays, must have been 19 years
17:42old.
17:43He's like, oh sir, come and sit down over here.
17:46And he sat down and he started giving me advice on what I should do with my money.
17:5219 years old, probably earned 17 grand.
17:58And his advice was, oh, move it into this investment with our bank, or move it into
18:04this asset with our bank.
18:09And of course, that would have locked my money with them for long term on very low interest
18:15and very high risk.
18:17So whatever the banks say that makes them seem like a public service, we look after
18:24your pension, we're with you to your retirement, we help you save for the future.
18:32These are all lies.
18:34The bank's interest is maximum shareholder value and you are the product.
18:40What's the biggest lie governments tell us all about money?
18:45Inflation is natural and normal.
18:47They don't say money goes down in value over time.
18:50You'll never hear them say that.
18:51That's what it is.
18:53Prices rise.
18:55Inflation isn't a naturally occurring event because if they stopped printing money, inflation
19:03would stop.
19:04So inflation is a government instilled strategy to steal your money.
19:14Is that why you think they would probably never adopt something like Bitcoin?
19:18I don't necessarily think they wouldn't adopt it.
19:20I think if they could regulate it, police it, control it or own it, they maybe would.
19:27I mean, there's been talk of governments launching their own central bank digital currencies,
19:35CBDCs.
19:36But would that mean that there's a limited supply like there is Bitcoin if they did that?
19:42Or would it be virtual currency, but they can still press the inflation button?
19:46Well, you tell me.
19:47Do you really think that the central banks and governments do not want to be able to
19:54print money?
19:55Yeah, of course they do.
19:56So they'll have a CBDC, but it won't be Bitcoin and it won't be un-infiltratable, un-inflatable
20:04and un-manipulatable.
20:05It will just be another version of fiat currency in digits instead of in paper, although it's
20:12not paper anymore.
20:14Banks, governments, insurance companies, who's the biggest criminal?
20:18I think if you draw the lines up, they probably all go to the same place.
20:25I think if you look at BlackRock and Vanguard and State Street, they have major shareholdings
20:35in banks and insurance companies and companies that have political influence in governments.
20:46They're not criminals because they're above the law.
20:52So what they've done is created a law which makes you a criminal if you break it, but
21:01it's their rules so they can break it at will.
21:05I'll give you an example of one.
21:07If you knowingly trade insolvently, which means you make sales, but you know you're
21:14losing money, you can be struck off as a director, and if it's extreme, you can go to prison.
21:21The central banks and governments are trillions in debt and they are knowingly trading insolvently
21:28and they've made it legal for them to do so.
21:32It's illegal for you.
21:34It's legal for them.
21:36So they're not criminals by their own laws because they're above their own laws.
21:45Really quick one.
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