Changpeng Zhao

And their net migration rate report came out that they're even losing more people now.

And they want to offer this 5% tax, billionaire tax, on the couple hundred people that they have there.

I wonder...

if they're going to realize how horrible of a move this is long term, because you can go anywhere today.

I wonder if they'll figure that part out.

What do you think?

Well, what I hear is a lot of companies are moving into taxes in the US, right?

I don't know the details, but generally at a high level, I think high taxes doesn't work that well.

When you impose high taxes or high transaction fees or just generally high cost,

for doing business, business move away.

Basically, you're taxing on a much smaller volume.

You actually get less net tax, I think, or less net fees or income or revenue, whatever you call it.

The concept is about the same.

And as you said, now there are 200 countries that are kind of actually competing for favorable regulations for businesses, favorable environments for businesses.

I do think that that consideration is definitely in play.

It's not like the business won't move and you can just tax the hell out of them.

When you increase tax from 1% to 10%, you might have less tax income.

It's not that straightforward.

Being close to Iran, what is your opinion on what's going on with Iran?

Well, I didn't follow geopolitics that closely before.