Daniel Priestley

So at the moment, it is the most thriving entrepreneurial community on earth outside of the US, but probably even rivaling the US, that there are investors, there's entrepreneurs, and the wealth is going through the roof. I've got two friends who are personal trainers, fitness trainers.

One fitness trainer has decided to stop working more hours because he's hit $50,000 a year and he now gets taxed at 40%. So he's basically decided he's going to earn right up to $50,000 and then stop working. And then the other fitness trainer went to Dubai, launched an online fitness community and has just bought a $350,000 Ferrari.

One fitness trainer has decided to stop working more hours because he's hit $50,000 a year and he now gets taxed at 40%. So he's basically decided he's going to earn right up to $50,000 and then stop working. And then the other fitness trainer went to Dubai, launched an online fitness community and has just bought a $350,000 Ferrari.

And one entrepreneur is super pumped and super excited about building a business because he's not overtaxed. The other entrepreneur has literally said, I'm not willing to do this because of how much I have to pay tax.

And one entrepreneur is super pumped and super excited about building a business because he's not overtaxed. The other entrepreneur has literally said, I'm not willing to do this because of how much I have to pay tax.

But here's the thing, right? If I was to ask you, you've just become one of the best-selling authors in the country. If your publisher came to you and said because you're in the top 1% of our authors, we're going to halve your royalties if you sign a second book with us, you wouldn't sign a second book with them.

But here's the thing, right? If I was to ask you, you've just become one of the best-selling authors in the country. If your publisher came to you and said because you're in the top 1% of our authors, we're going to halve your royalties if you sign a second book with us, you wouldn't sign a second book with them.

You would go to another publisher who says we'll pay you more royalties because you're so successful.

You would go to another publisher who says we'll pay you more royalties because you're so successful.

Well, what I'm saying… Fine, I'll give my royalties away. I'll shut my YouTube channel down. I'll stop working. I'm saying we respond to incentives that if your publisher, if Penguin came to you and said, book number two, you get half royalties because you're in the top 1%. Would you sign with Penguin or would you go with someone else?

Well, what I'm saying… Fine, I'll give my royalties away. I'll shut my YouTube channel down. I'll stop working. I'm saying we respond to incentives that if your publisher, if Penguin came to you and said, book number two, you get half royalties because you're in the top 1%. Would you sign with Penguin or would you go with someone else?

I'm not talking about that you do it for money. I'm just saying if you had the option to sign between two publishing contracts and all things being equal, one's going to penalise you for being in the top 1% and the other one's going to reward you for being in the top 1%. Of course you would go with the normal, like all things being equal, you want to write a second book anyway.

I'm not talking about that you do it for money. I'm just saying if you had the option to sign between two publishing contracts and all things being equal, one's going to penalise you for being in the top 1% and the other one's going to reward you for being in the top 1%. Of course you would go with the normal, like all things being equal, you want to write a second book anyway.

It's the same for entrepreneurs. When entrepreneurs start companies, we can either start them in high-tax economies or with a stroke of a pen start them in low-tax economies.

It's the same for entrepreneurs. When entrepreneurs start companies, we can either start them in high-tax economies or with a stroke of a pen start them in low-tax economies.

Do you acknowledge that countries that adopt an anti-rich, big government approach tend to collapse?

Do you acknowledge that countries that adopt an anti-rich, big government approach tend to collapse?

We needed a US bailout. We needed an IMF bailout in 1976. But the US did the same thing.

We needed a US bailout. We needed an IMF bailout in 1976. But the US did the same thing.

Basically, you take all the countries where the government becomes big, they meddle with your life, they're involved in every decision, half the economy. I mean, here's one other thing. This period is known as the golden age of capitalism.