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Après 10 ans en Thaïlande, ce qui me fait envisager de partir — Transcript

by Théophile Eliet · 16,065 words · 2,345 segments · language en · Watch on YouTube

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0:00Hello everyone. Welcome to this new
0:03video where I will answer about twenty
0:05questions you sent me out of the more
0:07than 200 I received, and I am currently
0:10in a podcast studio in Dubai, and I
0:12came for several reasons. The main one
0:16is that I came to visit the offices of
0:19a company in which, via ANAS, our
0:21private equity club deal has just taken
0:23a significant stake. It is a company in
0:28the financial markets sector, providing
0:31instrument services, primarily in the
0:33field of stock market investing. And
0:37well, it felt a little strange, as it
0:40is the first time I have stepped into
0:42the offices of a company in which I and
0:44my club deal have taken shares. So, it
0:47is an exceptional feeling. It is a
0:50company that is quite large,
0:52considering that in 2025, they had a
0:55turnover of approximately 46 million US
0:58dollars. Which means—I am putting the
1:00approximate exchange rate on the screen
1:01for you in euros so that people can get
1:03their bearings a bit. And so, I am very
1:06happy to make this deal because, as
1:08those of you who invest alongside me in
1:10online businesses in the US know, it is
1:12true that we haven't done a transaction
1:14for a while because we are extremely
1:16selective. So, that was the first main
1:20reason for my visit. The second is that
1:23I bought an apartment right before the
1:26conflict last year in Dubai, so I came
1:28to see where things stood, even though
1:31I do receive quarterly updates on how
1:33the construction of the apartment is
1:36progressing. There is nothing
1:38particular to report, but it is true
1:40that I could have had questions,
1:42especially with the conflict currently
1:44escalating in the Middle East around
1:46the Gulf. So, indeed, it is always good
1:48to come and say hello to the apartment
1:51under construction. And then, of course
1:54, I also have many friends, many
1:55entrepreneurs, and some investors who
1:58also live here, whom I came to visit.
2:01So, the first question: what is the
2:03future for Dubai real estate, and which
2:05neighborhood should one target for a
2:06small budget? So, what is the future?
2:09Well, I am not a big fan of giving my
2:11opinion. I prefer to provide figures.
2:14And so, for those who follow me on
2:16Instagram, you know: I shared figures
2:18that I found via Claude AI in Opus 3.5
2:20mode. I asked him: "Give me the three
2:24most important things to know about
2:25real estate, about the evolution of the
2:27Dubai real estate market from before
2:29the conflict to today." And there are
2:31three statistics that I found really
2:32interesting. The first is the Golden
2:34Visa. So, there are over 66,078 uh,
2:38Golden Visas that were issued by Dubai
2:41in the first half of 2026. So, for the
2:43first 6 months, that's more than 365
2:47Golden Visas that were distributed per
2:49day. A Golden Visa is obtained by
2:52investing amounts that are quite
2:54significant in real estate here in
2:56Dubai. Which shows that there is still
2:58huge demand, whether in terms of
3:00investment or also in terms of, well,
3:02multimillionaires who want to come and
3:04settle here in Dubai. The 2nd important
3:06statistic is regarding foreign capital.
3:09There is approximately 40 trillion that
3:12was, uh, invested in the first half of
3:162026. Uh, so 40 trillion dollars, right
3:20, that was invested in the first half
3:22of 2026, up 26%in 1 year with
3:24approximately 30,000 first-time
3:27international buyers. That means that
3:29for 30,000 of these buyers, it is
3:31ultimately the first real estate
3:33investment they have come to make in
3:35Dubai. Which still shows that there is
3:38a huge appeal even for people who had,
3:40well, wanted to invest in the past and
3:42didn't do it. Well, the conflict does
3:44not stop them from coming to either
3:46settle down or buy a first apartment.
3:49And finally, the third statistic I find
3:51interesting is that year-on-year,
3:53prices remain positive despite the war.
3:56+ 6.09%over 1 year in April 2026 and +
4:009.86%for villas over 1 year. Uh,
4:05despite, indeed, what is happening on
4:07the regional level. So the market is
4:09still at its highest in a year, which
4:11is to say, even before the conflict.
4:13Second question I received, which says
4:15"Hello, is Thailand over, are you going
4:17to move to Dubai?" Well, it's a
4:19question I ask myself a lot. Why?
4:21Because, well, I've been living in
4:23Thailand for more than 10 years and,
4:25indeed, even if I speak Thai quite well
4:27, even if I have a big network there, I
4:29have my friends there, I still have
4:31investments there, Thailand is a
4:33country that has made me a lot of money
4:35on many different levels, but mainly,
4:37if I had to measure it, it's in terms
4:39of my real estate investments that I
4:41made right during the pandemic. So, I
4:44bought some apartments for really cheap
4:47and also regarding restaurants, because
4:49for those who might not know, I did in
4:51fact invest in, co-founded or founded
4:53about four—well, not about, four
4:55restaurants and I sold this restaurant
4:58group last year. And it's a restaurant
5:01group that had quite a bit of turnover,
5:04a little over 15 million dollars a year
5:06in revenue, for about a 32%net margin.
5:09So, I wasn't the only owner of this
5:11restaurant group. I was a minority
5:13shareholder in the group, but that
5:14doesn't change the fact that it did
5:15indeed earn me a lot of money. So, do I
5:17see myself leaving Thailand? Honestly,
5:19I don't know. I am a bit perplexed. Uh,
5:21let's just say that over the past year
5:23or so, a lot of things have happened to
5:25me. I have been the target of many
5:28attempted scams by real estate
5:30developers and by women. My friends
5:34also experienced the same attempts,
5:36some of whom unfortunately ended up
5:38paying the price. And it's true that
5:42it's difficult for me today to tell you
5:44, with complete transparency,
5:46everything that happened, knowing that
5:48I still have apartments in Thailand and
5:51I've received—I won't say threats,
5:53but warnings, from people who, well,
5:55who are part of the government, who
5:57told me it would be better if I didn't
6:00describe the whole situation, because
6:02it doesn't send a good public signal to
6:04people who would like to either
6:06continue living in Thailand, or people
6:09who wish to move there. And so, indeed,
6:12as long as I still have assets in
6:13Thailand, I won't give you the details
6:15of all that. I will make a specific
6:17video when I have sold all my
6:18apartments in Thailand and I will be
6:20able to speak perhaps more freely. So
6:22there you go, it's still a subject that
6:23is very heavy for me because it's a
6:24country that I love. Uh, I love the
6:27people, I love the culture. Uh, I would
6:30say that what I've learned recently, uh
6:32, after more than 10 years of
6:34expatriation in a country, is that you
6:37can adapt to a culture, but there is
6:40the way that, uh, we place importance
6:42on values and the prioritization of
6:45these values which are different from
6:47one people to another. What is
6:50important to us in the West versus what
6:52is important to people in Thailand is
6:53extremely different. And honestly, the
6:56more time passes, the more I wonder if
6:58I want to have children who will grow
7:00up with this same value system. And so,
7:02I'm not saying it's bad, I'm not saying
7:03we're right or the opposite, I'm just
7:04saying it's very different. And I don't
7:06know if, beyond the culture which I
7:09really like, I want my children to have
7:11this same value system. So, that's a
7:13question I ask myself a lot. The
7:16apartment I invested in here in Dubai
7:19will be finished by the end of next
7:21year, so the end of 2027. And so I
7:25think the closer I get to that date,
7:27the more I think my heart will lean
7:30towards Dubai. That's it. So that is
7:32also one of the reasons why I came to
7:34Dubai, to see how I felt since it's a
7:36city I know quite well. I've been going
7:38back and forth between Dubai and
7:40Bangkok for about 7 or 8 years. So for
7:43me, it's not a huge change. And also,
7:46I'm moving closer to my family because
7:48my dad is starting to get a little old
7:50and my younger brother lives in Europe,
7:51so it's indeed easier for me to spend
7:53time with them if I'm here in Dubai.
7:55Next question, which makes me laugh, is
7:58do you miss your little Saxo? For those
8:01who might not know. So, I come from a
8:04perfectly normal family. I didn't have
8:07any exceptional assets when I started
8:09out, since my dad is a police officer,
8:11my mom is a caregiver, and that's that.
8:14So, I grew up in a fairly poor town in
8:17the north of France, and so the first
8:20money I saved when I was a summer camp
8:23counselor, I actually invested in a
8:26little Citroën Saxo. I then found a
8:29job. I worked for a web hosting company
8:31in the north of France that is very
8:32well known today. And that's how I took
8:34my first steps on the web. I learned a
8:37lot of things, and then I started my
8:38first businesses in the field of
8:40selling study notes. And that's how I
8:42earned my first euros. And so, when I
8:45was still in France, I was already
8:46earning money with online businesses,
8:48not much, but I had installed a little
8:50GoPro in my car, which was the Citroën
8:52Saxo at the time. And since I had very
8:55little time between my job, uh, my
8:57salary, plus the fact that, well, I was
8:59going to the gym and I also needed to
9:00sleep at night, I actually said to
9:02myself: "Hey, I'm going to film videos
9:04to explain how I earn money online as a
9:06supplement to my salary." And well, at
9:09the time, I didn't have much money, and
9:11even though, uh, my goal wasn't to have
9:13a nice car, my goal was mostly to gain
9:15freedom, and so I wanted to reinvest in
9:17my business, and therefore there was no
9:18point in buying a nice car while I was
9:20in France. So, the rest of my evolution
9:23, most of you already know it. So, well
9:27, I sold my little Saxo, I moved to
9:29Thailand, and from there, I started
9:31offering coaching where I helped people
9:33create an online business, and...It was
9:36so successful that I then created
9:38training courses which were, obviously,
9:40cheaper than my coaching, so that as
9:42many people as possible could follow my
9:44advice at a lower cost and create
9:46online businesses. And so, well, it
9:48turns out that these training courses
9:50were a real hit, and I invested this
9:52money in real estate and in the stock
9:53market. And so, over time, I invested
9:55more and more, and so I started making
9:57videos on topics that interested me,
9:59that is to say, no longer online
10:01business, but investing. And, uh, well,
10:04there you go, I made videos that
10:06gradually showed my journey as an
10:08investor, and today I'm at the head of
10:11a private equity club deal, and I had a
10:13great exit 4 years ago. So I sold a
10:16nice company and deployed my capital
10:17into many asset classes that are
10:19actually quite traditional, like real
10:21estate and the stock market. And since
10:23I had sold my online business, I
10:25thought to myself, well, it might be
10:26interesting to invest in other online
10:28businesses. And so, well, that's when I
10:30partnered with my current partner and
10:32we started buying businesses in the US,
10:35developing them, and reselling them.
10:37And so, well, it's our first operation
10:39that convinced us that we could offer
10:41people the chance to invest alongside
10:43us. And, in the case where we have
10:47outperformance, that is to say, if we
10:49exceed the performance we had targeted,
10:51well, our club deal actually takes fees
10:53only from the surplus of that
10:55performance. So, uh, so there you go,
10:58that is where I am today. And indeed,
11:00over time, I have deployed capital
11:02across several different jurisdictions.
11:04Dubai is only a very small exposure for
11:06me, and most of my investments are, uh,
11:08primarily in the United States, but not
11:10only there. And so to wrap up the
11:12answer, no, I don't miss the Citroën
11:14Saxo. Even though I'm not a huge sports
11:16car fan, I have owned them in the past.
11:18Today, that's not my focus at all. I
11:21much prefer. I actually get much more
11:24pleasure from being comfortably seated
11:26in the back of a car with a driver. And
11:28my car, my ultimate car, if I may say
11:30so, isn't a car that costs an
11:32exorbitant amount. It's a Mercedes-Benz
11:35S-Class because it's comfortable, it's
11:37discreet, it doesn't draw attention,
11:38and that's everything I like. Next
11:41question asks me what the top 3 side
11:43hustles are that can scale properly
11:45over time? Well, personally, I've never
11:49had a side hustle. I've had projects
11:51that I enjoyed, in which I invested,
11:53but someone else operated them for me.
11:55I'm not really a fan of side hustles.
11:57So, a side hustle, for those who might
11:59not speak a little bit of English, is
12:01basically creating a business on the
12:03side of either your salaried job or
12:04your entrepreneurial activity. I think
12:07that when you're an employee, creating
12:08an entrepreneurial activity on the side
12:10is really important. However, when
12:12you're already an entrepreneur and you
12:14have a business, I'm more of a fan of
12:16laser focus. That is to say, you put
12:19all your efforts, all your mental
12:21energy into one single business. And
12:24when you have free time, well, you use
12:26it to think, you use it to rest, you
12:29use it to train; you don't use it to
12:31simply create a side business that will
12:34disperse your mental energy. So, I am
12:37more of a fan of focusing on one single
12:40business and scaling it. For about 10
12:44years, I had one single business, and
12:46it was only when I sold it that I could
12:48start to have mental clarity and wonder
12:51what I could do next. And it took
12:54months and months before I found, uh,
12:55what I was going to do. So all this to
12:57tell you that if you are an employee
12:59today, yes, do a side hustle to free
13:01yourself from a boss. Now, if you are
13:04an entrepreneur, it is better, it is
13:06preferable to fully focus on your
13:07activity. And maybe, for example, last
13:10week, I was having dinner with
13:11entrepreneur friends here and one of
13:12them told me: "Look, today I have this
13:14business that makes this much and I
13:15wonder: wouldn't it be better to do
13:17another business that makes more?" And
13:19I told him: "Well no, your business
13:20already makes enough." However, you
13:21could offer additional products and you
13:24could also duplicate your business in
13:26different languages, in different
13:27countries. So I think it's better to do
13:30that because when you develop expertise
13:33in a specific area and also in the way
13:35you do it, it's better and more
13:37lucrative to duplicate it or work more
13:39on the offers. Next question asking me
13:42"Hi Theo, how do you scale a 100%online
13:44business? Thanks in advance." So,
13:46that's a good question. Uh, for us in
13:48the private equity club deal in assets,
13:51what we do to scale a business is that
13:53the first thing we do is generally work
13:55on the offer. Why? Because when you
13:58have a business that's already running,
14:01the fastest thing to grow is profits. I
14:04know that may seem strange, but the
14:06fact of attracting more customers into
14:08a business is generally what takes the
14:10most time and is the hardest. So when
14:13you already have a business that has
14:15visitors on a website, visitors via
14:17social networks or via advertising,
14:18well, it takes a little bit of time.
14:21Even if you already have a business
14:23running on advertising, increasing the
14:25advertising budget won't naturally
14:27increase the profitability of your
14:29business. I'll go back to the example
14:31of the same entrepreneur who was asking
14:32me the question about how to do a side
14:34hustle. Well actually, I told him why
14:36don't you just increase your ad budget?
14:38Well, he told me that actually, the
14:40more I increase my ad budget, the less
14:42my profit, my profit multiplier
14:43coefficient decreases and gets crushed.
14:46So, it's clear proof that it's not by
14:48adding money into the machine on
14:49Facebook Ads or Instagram Ads via Meta
14:51that you will increase profitability.
14:53However, offering a product that is
14:55different or that goes further once
14:57your customers have succeeded or even
14:59if they don't want to buy, offering a
15:01product that is different to meet a
15:03different goal, well that is better. So
15:05, how to scale a 100%online business?
15:07The first thing to do is to develop
15:10your offer catalog. It could be "
15:13done-for-you" services, it could be
15:14offering training, it could be offering
15:16seminars, or it could be offering a
15:18subscription service. Personally, at
15:20Onet, we love offering subscription
15:23services. Why? Because that’s what
15:26allows you to bring in recurring
15:28monthly revenue for a business. It’s
15:32what will tend to increase the value of
15:34a business significantly. Because, well
15:37, if you're looking to buy a business,
15:39would you prefer a business that makes
15:41120k a month in profit, but profits are
15:43a real rollercoaster, or would you
15:45prefer a business that brings in 100k a
15:47month in recurring monthly revenue into
15:50the business's pocket? Well, the second
15:53option is clearly preferable because
15:55you have a certain stability in your
15:56business. You can foresee things in
15:59advance, and your LTV is much higher
16:02with this second type of business. So,
16:04naturally, the value of your business
16:06increases drastically. Once you’ve
16:08worked on your offer, it might be worth
16:10working on the client acquisition side.
16:12And so there are several things to put
16:13in place here. In my opinion, the first
16:16is to set up a team that will work on
16:19SEO, whether for search engines like
16:21Google or for LLMs like ChatGPT, Claude
16:24AI, Perplexity, and others, so they
16:26cite you in their sources. And to get
16:29cited in LLM sources, personally at
16:32Onet, we have many different methods,
16:34but one of the simplest to implement is
16:37doing Q&As. This means at the end of
16:40your blog posts, you take 10 questions
16:42related to a specific topic, ask them
16:44simply, and provide the answers. It is
16:47the easiest way to appear in LLM
16:49results today. Another way to grow your
16:53traffic with minimal cost is to offer
16:55an affiliate program that pays 20 to 30
16:57%to the people who promote you. And if
17:01you are launching into a new topic or a
17:03new market, then indeed, be more
17:05aggressive with the commissions you
17:06redistribute. It could be up to 40%,
17:09for example, as long as you are still
17:11profitable and have other products that
17:12could potentially be purchased by your
17:14clients acquired through the affiliate
17:16program. It can be extremely
17:18interesting. Another question I've
17:21selected that I find interesting is how
17:22to become wealthy—what is the best
17:24path starting at 18 with low capital?
17:28So, this question is actually asking
17:30how to become wealthy, and not just
17:32rich. To me, the difference between
17:34being rich and being wealthy is that a
17:36rich person has a high income. A
17:37wealthy person doesn't necessarily have
17:39a high income, but they have a large
17:40net worth. And in fact, net worth is
17:42much more important than how much you
17:43earn. Why? Because just because you
17:46earn a lot—and I've really seen this
17:48for years meeting entrepreneurs—it
17:50doesn't mean that just because you
17:52managed to make money, you will
17:53necessarily stay rich over time. First
17:57of all, there's a huge skill gap
17:58between being an employee and an
18:00entrepreneur and succeeding in making
18:01money. And there is yet another step
18:04after that, which is keeping that money
18:07, meaning not spending it foolishly,
18:09and investing it and succeeding in
18:11investing well to grow it with the goal
18:13of living off your investments.
18:15Personally, this is a stage I've
18:16reached years ago, and indeed it is the
18:18holy grail for me because it's freedom.
18:21Meaning that today, if I stop YouTube
18:23videos, if I stop all my activities, I
18:25still live more than fully off the
18:26fruits of my investments. So what this
18:30question asks—or rather, what this
18:31person is asking me—is how to become
18:33wealthy when you are 18 years old? Well
18:37, truthfully, it takes time. I like the
18:39Warren Buffet quote that says "You
18:40cannot produce a baby in one month by
18:42getting nine women pregnant." So indeed
18:46, sometimes good things take time, and
18:47so I think you need to start a business
18:49that requires little capital. Today
18:52with artificial intelligence like, for
18:54example, Claude and many others, you
18:56can create a SaaS, you can create a
18:58service, and offer it. However, indeed,
19:02the hardest point, the tipping point
19:04that will determine if you succeed in
19:05making money with this business, is
19:07indeed the way to distribute, the
19:08distribution channel. So it could be
19:12advertising, it could be SEO, it could
19:14be affiliate programs, but there you go
19:16, that's the heart of business today.
19:18It's the most important thing today;
19:19it's no longer the offer, it's no
19:20longer the product you're going to
19:22provide, it's no longer the service
19:23you're going to provide. Because today,
19:25in just one week, you can really start
19:27offering a product that is ready to
19:29market and that you can test in the
19:31market. So for me, the most important
19:33thing is how you are going to
19:34distribute it. That is what matters
19:37most in 2026, 2027, and 2028: how you
19:40manage to distribute it. I invite you
19:43to try to create products that generate
19:45subscription revenue. Why? Because when
19:48you eventually sell this company, that
19:50is where you will make the most money
19:52to then reinvest. And so for me, that
19:56is the fastest path: create a SaaS or
19:59affiliate programs today, find a way to
20:01distribute this product or service, and
20:03then sell the company. Let's say in the
20:07first year, you make $ 5,000 a month in
20:08Monthly Recurring Revenue; that’s
20:10still $ 60,000 a year. Maybe your
20:12margin is 50%, so that's 30k in your
20:14pocket. The next year you double, the
20:17year after you double again, and then
20:19you sell. What I find most important is
20:22thinking about how much you actually
20:24need. And that will determine at what
20:26point you should make your exit. So
20:28I'll give you a concrete example. I had
20:30a friend not long ago tell me, "I need
20:33$ 120,000 a year to live." I said, "OK.
20:35" So, at a 10%ROI, that means you need
20:38$ 1,200,000 invested, for example, in
20:41the financial markets. That’s just a
20:43rough example, of course, it's not
20:45reality, but it’s just a rough
20:46example. And so, I say, "Alright, you
20:49need to set aside $ 1,200,000." He said
20:51, "Yeah, I'd also like my primary
20:52residence." I said, "OK, so how much
20:54does your dream home cost?" He said, "
20:56Well, 1.5 million." I said, "So you
20:58need 1.2 plus 1.5; you need $ 2,700,000
21:01." I told him: "So, if you put $
21:04200,000 aside, it means you need to
21:06sell your company for $ 2.5 million,
21:08and with a multiplier, say of 4 years,
21:11you know exactly how much you need to
21:13earn with your business per year before
21:15trying to sell it."» And so, this is
21:19the way to think from the very
21:20beginning about what you are going to
21:22create with the goal of selling it,
21:24with the goal of investing it, and
21:25reaching that grail of: I am wealthy
21:27because I no longer need to work, my
21:29investments work for me. There you go,
21:31that is the path I would follow, no
21:33matter your age. Next question: how to
21:36fight against procrastination and the
21:37wounds and negative words to keep
21:39moving forward? So, indeed, when you
21:43start, there are words, there are
21:45people you will ask for their opinion
21:47who will say negative things like: "You
21:49won't make it, it's not for you, it's
21:51too hard, it doesn't work, you have a
21:53bad idea, you'll never succeed,"
21:55because they themselves will try to
21:57reflect, they will try to project their
21:59own personal failure onto your personal
22:01project. Or perhaps there are simply
22:04people who really think that your idea
22:06will not work and, to protect you, they
22:08will simply try to lead you toward
22:10another path, because it might be the
22:12path that allowed them to reach what
22:14they consider to be security. And so,
22:17for many people in France today,
22:19security means owning a small apartment
22:22in central Paris or a nice house in the
22:24countryside, working until age 64 or 65
22:27, and then receiving a hypothetical
22:29pension paid for by the government,
22:32which is the Ponzi scheme everyone
22:34knows. So, indeed, you shouldn't ask
22:38for advice from people who haven't
22:39succeeded. If you want to get muscular,
22:42well, you go see a personal trainer who
22:44is muscular. If you wish to succeed in
22:46the field of finance, well, go see
22:47someone who has succeeded in the field
22:49of finance. For me, the goal of my
22:51YouTube channel is, indeed, to help
22:54people who want to reach this goal that
22:56I have reached, which is to have assets
22:59that work for us and, precisely, to no
23:01longer be dependent on a business. In
23:04the past, I created my YouTube channel
23:06to help people build a business with
23:07the goal of breaking free from a boss.
23:10And so, indeed, today, I answer this
23:12question with complete clarity of mind,
23:14since I have gone through these same
23:15steps. Whether it was friends who told
23:18me I wouldn't succeed because they
23:19really thought I wouldn't, or random
23:21people who hadn't succeeded who asked
23:23me, "What are you doing?" I say, well,
23:25I'm trying to do that right now. Well,
23:28look, those people didn't succeed in
23:30entrepreneurship and so they
23:31effectively tore me down. Uh, for a
23:33quick anecdote, there were people back
23:35then who said to me, "Yeah, but if
23:36you're so rich, why don't you have a
23:37nice car?" Well, for me, my goal isn't
23:39to have a nice car. My goal is to have
23:41investments that pay me a ton. And
23:43today, nice cars, uh, as I mentioned at
23:45the start of this video, the car I like
23:47is just an S-Class. Today, I could buy
23:49a hundred of them. That's not the issue
23:51. Uh, but the most important thing for
23:53me isn't the car, it's freedom. It's,
23:56can I do what I want with my money? Can
23:58I travel 12 months a year if I feel
23:59like it? Can I have children and
24:02provide for their needs and have the
24:03same lifestyle for my future wife and
24:05my future kids? For me, that is much
24:08more important than the brand of my car
24:10. So, your goal needs to be so
24:14important that no one's words can
24:17impact you. So, indeed, for me,
24:19procrastination is a secondary issue. I
24:22have never really procrastinated. Why?
24:24Because my goal is so important to me,
24:27it's so vital to succeed. The pain of
24:31not succeeding is so strong for me that
24:32all my efforts are focused on that. If
24:36I have to get up early to succeed, well
24:37, I get up early. I don't have that
24:40pain of saying, "Oh, it's so hard to
24:41get up in the morning," because I have
24:43the rage inside me, I have the ultimate
24:45fire, so there is no question of
24:47procrastination. So ask yourself, is
24:49your goal important enough to you?
24:52There are some people who won't succeed
24:54. So, and it's perhaps because it
24:55wasn't the right time, perhaps because,
24:57you know, they had bad luck, etc., but
24:59really, you have to keep going over
25:01time, and you also shouldn't say, "Oh
25:02well, I didn't succeed the first time,
25:04so I'm not going to try again." Uh,
25:06remember one thing, and that is that
25:08most millionaires, well, they aren't 20
25:10years old, they are perhaps 40 or 50.
25:13So today, when you look at my YouTube
25:15channel and see that, yes, I've
25:16succeeded—and I’m happy, I
25:18succeeded early—there are a lot of
25:19people on the internet who claim
25:21they’ve succeeded early. I’m
25:23telling you, 80%of the people on the
25:25internet who say they are millionaires
25:28aren't, and I see it because I grew up
25:30in the middle class and for the last 10
25:33to 15 years, I've been connected with
25:35people who are millionaires,
25:37multimillionaires, and so on. And they
25:39are not at all the profiles you see
25:41online with nice cars who burn through
25:43cash in nightclubs. They aren't like
25:45that at all. They are people who do
25:48indeed own nice properties, but they
25:50are off social media and share a common
25:53passion, which is investing. So
25:56sometimes it's real estate, sometimes
25:57it's the stock market, sometimes it’s
25:58private equity, and so it’s very far
26:00from what you can see online. So don't
26:03try to reach the goal you see online,
26:05which is to say, "If I don’t have a
26:07Lamborghini, a Rolls, and 15 Rolexes by
26:0925, then I haven't succeeded." No, no,
26:12no, not at all. Far from it. Uh, if at
26:1525, 30, or 35 you already have a
26:17business that brings you in some money
26:19and you're no longer a prisoner to a
26:21company or a boss, well, honestly,
26:22that's already very good and that’s
26:24the normal path. So, how about
26:27procrastination? Ask yourself: Is my
26:31goal strong and intense enough to give
26:33me all the motivation I need to get up
26:35in the morning and crush it, and to
26:37know that even if it doesn't work,
26:39I’ll keep going until it does? Next
26:43question, which asks what my current
26:45asset allocation is. Well, I won't give
26:48my exact net worth because I prefer to
26:51be discreet about the money I have,
26:54what I earn, and so on. And I think it
26:56won't inspire many people compared to
26:59the number of people it might
27:00discourage. So, I have a net worth with
27:03eight figures, no matter the exact
27:05amount, and this wealth is currently
27:06distributed as follows. So, I have my
27:09wealth management spreadsheet right
27:11here in front of me. And so I'll tell
27:14you the current state of things: I have
27:17approximately 45%today in real estate,
27:20whether in residences in Bangkok that I
27:23either live in or that are rented out.
27:26I also have a portion of my net worth
27:28that is in real estate here, uh, in
27:30Dubai, and most of my properties range
27:33from 1 million dollars to, uh, 3.5
27:35million dollars each. Then I have about
27:3810%that will be in, uh, US government
27:42bonds, and I’m keeping it that way.
27:45Why? Because I have to pay the
27:47installments for my apartment that
27:49I’m financing, which is currently
27:51being built here in Dubai. I have 14.5%
27:54in private credit. So, this is a
27:57position I’m in the process of
27:58selling, which I will recover, uh,
27:59during the month of September,
28:01depending on when you’re watching
28:02this video. So, September 2026. And, uh
28:05, so this position will be liquidated
28:07and I will deploy it into the stock
28:09market. Today, I only have 17.8%
28:12invested in the stock market on the US
28:16market, mainly in one called DGRO. Uh,
28:21I’ll show you a bit of what it’s,
28:23uh, invested in right now on the screen
28:24. And the rest is private equity. So,
28:28private equity, uh, via a fund, uh, in
28:31the US, which is managed by the company
28:34Carlyle AlpInvest. And in this net
28:37worth, I do not include my investments
28:39in private equity through the club deal
28:41platform. Why? Because I am a little
28:44bit active in these businesses, and so
28:46as long as it isn't cashed out, I
28:47don’t consider it as net worth. So,
28:50unlike many YouTubers again, who will
28:52tell you, "Here is all my net worth,"
28:54in fact, they include the value of
28:56their company, which they often
28:58estimate themselves. Me, I don't use
29:01that cheat code. I consider my net
29:04worth to be only what is outside of my
29:06business activities. And so, to give
29:09you a bit of the direction of my net
29:11worth, I am currently liquidating real
29:13estate in Bangkok and deploying it
29:14mainly into two asset classes. Private
29:17equity via my private equity club deal,
29:20which is onlineasset.com, and the
29:22second pocket is stock market
29:23investment. I am really investing less
29:25and less in the real estate sector. Why
29:27? Because I much prefer that my focus
29:31and my energy be on my professional
29:34activity rather than managing my
29:36tenants. Ensuring that everything goes
29:39well in the real estate field is
29:40something that really wears me out. I
29:44much prefer having investments that are
29:46passive, not necessarily liquid, but
29:47passive. I don’t need all my net
29:50worth to be liquid. Because I know
29:51there are people who sometimes tell me,
29:53"Yeah, but Théo, in the private equity
29:54field, your assets aren't necessarily
29:56liquid." I don't need to have 100%of my
29:58wealth liquid. My stock portfolio and
30:01my U.S. government bonds are already
30:03liquid. I don't need that. And besides,
30:05I have income coming in through all the
30:07asset classes I've mentioned to you.
30:09Whether it's rent from my real estate
30:11investments, interest from private
30:13credit, or dividends from private
30:16equity. So, I don't need to have, uh, 5
30:18, 6, or 10 years of expenses sitting in
30:20my accounts. Even though it's something
30:23I recommend to everyone when you invest
30:25, it's to first build an emergency fund
30:27, a security fund to cover your
30:29expenses ranging from 3 to 6 months in
30:31advance. So, indeed, my situation is
30:33different. I always have 6, 10, or even
30:36100 months of expenses covered, but
30:38it's mainly through the liquid pool I
30:41have and the income I receive, whether
30:43from my investments or, uh, my active
30:46businesses. Next question asks me how I
30:49earned the first euros I invested and
30:51what that investment was. So, the first
30:54euros I earned, to be totally
30:56transparent with you, were when I was
30:58about 16; I was playing a video game
30:59called World of Warcraft, which many of
31:01you might know. It's funny, actually,
31:03how many people who played games like
31:06World of Warcraft or Dofus, just to
31:08name a few, later succeeded in the
31:09business world. Maybe it's because
31:12those games had an economy where you
31:14could sell, uh, items you earned in the
31:16game. And so, sometimes we would do
31:19arbitrage, sometimes we would buy items
31:21that were cheap and resell them in the
31:22auction houses. So yeah, it's funny. So
31:25my first euros were earned, uh, when I
31:27sold gold coins in a video game. Uh,
31:30those were the first euros I earned. So
31:32I earned a few hundred euros like that.
31:34And those euros, I didn't necessarily
31:35invest them. I used them, uh, to go on
31:38vacation with friends and, uh, to, well
31:40, enjoy life a little because, well,
31:42when I was younger, I really didn't
31:44have, uh, any money at all with my
31:46family, it was a real struggle. And so,
31:49I used them that way, I didn't invest
31:51them. The first money I invested was
31:53when I was earning money with my
31:55revision guide sales business. I earned
31:58a degree called the BTS NRC for client
32:00relations negotiation, and I created a
32:02blog that helps students review their
32:04end-of-year curriculum before the exam
32:06in a very short time via PDF sheets. So
32:09, it was actually those first euros I
32:12earned that I was able to invest. And
32:14so I invested them gradually in the
32:16stock market. But my first big
32:18investment was a real estate investment
32:20that I had filmed in a video. I had
32:23bought an apartment in Hungary, in
32:25Budapest, which cost me a total of
32:27150,000 euros, which I rented out and
32:29received income from. So this apartment
32:32was for long-term rental, and there was
32:33an agency that took a cut and paid me
32:35back a large portion of the rent I
32:37collected. And then, I resold these
32:39properties. I made other real estate
32:42investments over time. And my other
32:45first big real estate investment was in
32:48Bangkok. Maybe a video you remember. I
32:51bought my first primary residence at
32:53the Ritz-Carlton Residences in Bangkok,
32:55a property that at the time cost me—I
32:57don't remember, more or less 1.5 or 1.7
32:59million—I don't know, it's been a
33:01long time. And then, I sold that
33:03apartment and bought a very nice
33:06apartment, for a nice chunk of change
33:08once again in Bangkok, for which I had
33:11also made a video. And so, there you go
33:14, those were my first big physical
33:16investments. My first stock market
33:20investments were really made gradually
33:21over these last seven years, and I've
33:23really earned a good living because I
33:25invested at times when most people told
33:27me not to invest. Naturally, these were
33:31times when the market was at its lowest
33:33, and today, regardless of whether the
33:35market is high, low, etc., I try to
33:37continuously invest using DCA. DCA for
33:40Dollar Cost Averaging. So ultimately,
33:43investing a little at a time, and
33:45that's how I manage my money. A
33:47question this time regarding
33:48expatriation. What are the essential
33:50steps for a complete expat move? I am
33:52leaving for Thailand. So, to answer
33:55your question, Lucas, well, before that
33:56, you have to be sure that you don't
33:58owe any money in the country where you
34:00are a resident. I assume you are a
34:02French tax resident. So pay close
34:04attention to the exit tax if you
34:07unfortunately have to deal with it. So,
34:11pay what you owe before leaving and
34:13inform the government where you are
34:15currently a tax resident about your
34:18expatriation. And so you need to file a
34:21tax return and explicitly state that
34:23you are moving to such-and-such a
34:24country. When you move to another
34:27country, you effectively need to open
34:29bank accounts. You also need to obtain
34:32a tax residency number. You must also
34:36have a visa to open bank accounts and
34:38be a tax resident of this new country.
34:42Unless it is within Europe, where you
34:44have freedom of movement and residence.
34:48And then, you will have to file your
34:50first tax return in this new country of
34:53residence, depending on when the fiscal
34:55year ends. So, it's not the same in
34:58every country. There are countries
34:59where it’s in January, others where
35:01it’s in March. So, make sure you file
35:04your first return at the time the
35:07fiscal year closes. Once you have all
35:10that, along the way, you obviously need
35:13to rent a property where you will be a
35:15tax resident. The most important thing
35:18is not to be reclassified, not to be
35:20reclassified in your original country
35:22of residence, which I assume for most
35:24is France. And for that, there are many
35:27important topics, but there are two
35:29things that are truly vital. It’s the
35:32fact of spending more than 182 or 183
35:34days, so half the year plus one day, in
35:36the country you wish to move to. It's
35:39really important. And the second major
35:41subject that must be respected is
35:44economic interests. If you still have a
35:47business in your previous country of
35:50tax residence, if all your clients are
35:53in that former country, or if you have
35:55employees, your whole family, your
35:58phone number, or still own property
36:00there, well, all that works against you
36:03. So even if you live more than half
36:06the year in a new country, that's not
36:08the only factor that counts. There is
36:11also the aspect of fiscal substance. So
36:14, what I recommend is spending 8 months
36:17a year in the new country where you
36:19want to expatriate, instead of
36:21constantly going back and forth with
36:23your first country of residence, and
36:25really building your life in that new
36:27country. That's the foundation, and I
36:30strongly recommend that you consult
36:32with a tax attorney in your current
36:35country of residence, and then in the
36:37new country where you intend to move
36:39and live. Regarding Lucas's case, I
36:42previously made a full video with a
36:44French-speaking tax lawyer who is based
36:46in Bangkok. I invite you, Lucas, to go
36:49watch that video, where we cover many
36:51topics, including taxation, changing
36:53tax regulations, visas, opening bank
36:55accounts, and so on. Interesting
36:57question. Is it still possible to make
36:59a fortune in France? To be honest, to
37:03answer very simply, I think it's become
37:05extremely complicated. In general, and
37:09I've been saying this for years, get
37:11moving to make money, because we are
37:14entering an economy where, for many
37:16years now, the value of labor has been
37:18worth far less than the power of
37:20capital. This means that the longer it
37:23takes you to build wealth, the less
37:24possible it becomes to actually achieve
37:26it. Why? Because we can see it with
37:29artificial intelligence, and we see it
37:30with the continuous increase in taxes
37:31in France. So, it is increasingly hard
37:35to keep money in your pocket against
37:37the government, and it is becoming
37:38harder and harder to stand out. Because
37:42if you have a skill today, well, it's
37:44possible it could be completely wiped
37:46out by the arrival of artificial
37:48intelligence and its rapid development.
37:51We see it in the progression of updates
37:53to LLMs of your choice, whether it's
37:55ChatGPT, Claude AI, and so on; they are
37:57releasing updates more and more
37:59frequently. Artificial intelligence is
38:02becoming smarter and smarter, and at an
38:04increasingly rapid pace. So effectively
38:06, if you can be replaced by AI, then
38:08get moving. You really must use
38:10artificial intelligence in the various
38:12businesses you wish to develop. And I
38:15think that, from a purely mathematical
38:18standpoint, you will put more money in
38:20your pocket if you aren't in a country
38:22that will take 40, 50, 60%or more, and
38:24one that will also slow you down with
38:27administrative hurdles. I also invite
38:30you to perhaps consider moving to a
38:32country where the culture of
38:33entrepreneurship is more respected. Now
38:35, in France, there is still the
38:37possibility of making money. It's just
38:39that it will be a bit harder, a bit
38:41different. The network you might need
38:43could be more complicated to build. We
38:45can see this in terms of capital flight
38:47from France. People are leaving. People
38:49who have money are leaving. Not just
38:51for tax reasons, since most people
38:53leaving France aren't heading to Dubai.
38:56They aren't moving to a country with
38:58zero tax. No, most expatriates are
39:01leaving France because of professional
39:03opportunities and because the
39:05entrepreneurial mindset is rotten. They
39:08leave because of security issues, they
39:10leave because they no longer feel
39:12connected culturally. So, who are the
39:15people leaving? Well, it's those who
39:16have the means to leave. And most of
39:18the time, that's entrepreneurs with
39:20businesses that don't require them to
39:23be physically in France. So, is it
39:25still possible to make a fortune in
39:26France? Obviously, but I think it
39:28requires a different approach. It could
39:30be through real estate, for example,
39:32even though I did a video recently
39:34where I gave you the figures and my
39:37outlook on the French real estate
39:39market, and well, it’s lousy. Why?
39:42Because interest rates are rising, and
39:45frankly, French real estate had been on
39:48life support for years with interest
39:50rates that were continuously falling,
39:53which naturally drove real estate
39:56prices upward. But that’s only on
39:58paper, because when it comes time to
40:00sell, it’s a different story. You see
40:02, today if you are in the real estate
40:03sector, there are far fewer buyers than
40:05there were before. So, I invite you to
40:08also check out that video I made about
40:10real estate investment data in France.
40:13The future prospects are really not
40:15great for many reasons I won't have
40:17time to cover in this video. So, is it
40:20possible to get rich in France? Yes,
40:22but I think it’s much easier while
40:24living abroad. Next question: how do I
40:27manage my stress? Well, effectively, I
40:29can experience stress from various
40:31things, whether it be my personal
40:34investments, for example, in real
40:36estate. Sometimes, I have a tenant who
40:37pays me a little bit late. Well, that
40:38doesn't really stress me because my
40:40properties are so high-end that the
40:41tenants I have are truly high-end. They
40:43are all entrepreneurs or wealthy heirs
40:46from foreign families. And so, as a
40:48result, there has never been any unpaid
40:50rent since I started investing in fine
40:51properties. I would say that what
40:53stresses me out sometimes can be the
40:55volatility of my investments. Because
40:57obviously, having come from a
40:59lower-middle-class background in France
41:01, when I have large volumes invested in
41:04the stock market, even a 1%gain or loss
41:06at the opening bell involves such
41:08enormous amounts that it can impact you
41:10at the beginning or end of your day,
41:12depending on where you are on the
41:14planet. So yes, that can sometimes be a
41:18little stressful. If you have a 5%
41:19unrealized loss on a large part of your
41:22assets, it can be a little stressful,
41:24but I am actually convinced by my
41:25investments and I really invest for the
41:28long term. So, what happens in the
41:30short term, yes, it can sometimes make
41:31me think, but it doesn't really stress
41:33me out in terms of my professional
41:34activity. So, private equity club deals
41:37, for example, sometimes they can
41:39indeed stress me out, but since I know
41:41what I'm doing, since we know what
41:43we're doing, I'm not too stressed. I
41:46think that stress is ultimately a worry
41:48that is worsened by not understanding a
41:51situation. If you invest in something
41:53you don't understand, you will be
41:55stressed because you don't know what
41:56caused the decline. You don't know how
41:59to turn things around. You don't know
42:01the possibility or the probability that
42:03you will make money in the long run. So
42:06, being reassured and understanding
42:07what you are investing in is really
42:09important. For example, in our club
42:12deals, when we invest, the people who
42:14invest alongside me are given
42:16information documents about the
42:17business we are acquiring, how we
42:19manage it, how we scale it, what our
42:21strategy is, and we provide monthly
42:23reports to those investing with me. So
42:26naturally, we know the long-term
42:27strategy, we know the trajectory, we
42:29know the current situation, we know
42:31what happened, and we know what is
42:32going to happen. So there isn't much
42:34room for doubt, but indeed, there is
42:36always a part of me that says, look,
42:37there are people watching my videos who
42:39have put their trust in me. Uh, you
42:41have invested several tens of millions
42:43of euros, sorry, alongside me in
42:45various businesses in the US. Indeed,
42:48there is always a small part of me that
42:49says there are people counting on me
42:51and I don't want to disappoint them.
42:53Everything doesn't rest solely on my
42:54shoulders. There are also some things,
42:57in fact, that are external factors over
43:00which I have no impact. But look, these
43:03are risks that investors know and
43:04understand before investing alongside
43:05me. For example, a change in a market,
43:09an increase in competition, the
43:11evolution of certain regulations, or, I
43:14don't know, updates to the Google
43:16algorithm, since we do a lot of organic
43:19SEO. So indeed, everything doesn't rest
43:22only on me, but I can have, I don't
43:23want to say stress, but I do feel that
43:25there is a significant level of
43:27responsibility on my shoulders. Now,
43:29it's not something that keeps me up at
43:31night. Why? Because even if I have
43:34succeeded today, I think, it doesn't
43:36stress me because I built my wealth
43:38gradually. I didn't go from 0 to an 8-
43:42figure net worth overnight like that.
43:45It took more than 10 years. And so,
43:48since I have a lifestyle that is quite
43:50frugal compared to how much I earn or
43:51how much I manage, it doesn't really
43:53stress me out because I know my
43:54lifestyle won't change. I know I've
43:58done things with my money that I think
44:00do good around me. Whether it's my
44:03friends sometimes when they need a
44:05helping hand, my family that I've
44:07helped, people I assist in creating
44:09businesses, or via these YouTube videos
44:11when I help people free themselves from
44:13a boss or sell their company. So no, I
44:16am quite aligned with what I am doing
44:17today. I understand what I'm doing, I
44:20am convinced of the trajectory, so no,
44:22I don't have too much stress, but I do
44:23feel I have a certain level of
44:25responsibility on my shoulders and I am
44:27OK with that for now. Direct question:
44:30where to live in 2027? Bangkok,
44:32Marbella, or Dubai? Well, that will
44:35depend on who you are. I don't think
44:37Dubai is a destination for first-time
44:39entrepreneurs, meaning those just
44:41starting a business. Why? Because I
44:43know many people say, "Oh, Dubai is
44:45amazing, there's no tax." But actually,
44:47in Dubai, the tax you pay is on your
44:48lifestyle. Dubai is 1.5 times more
44:51expensive, that's 50%more expensive
44:54than Bangkok, for example, for the same
44:57lifestyle. Bangkok is indeed a big city
45:01where you can live for cheap, but also
45:02for very expensive. Marbella is in the
45:06south of Spain, and it does offer a tax
45:09regime called the Beckham Law which
45:12lowers your taxes, but there is still
45:15tax. However, it is perhaps simpler for
45:17a first expatriation to go to Marbella
45:19or at least stay in Europe. I think
45:22that for a first expatriation, Budapest
45:24, Hungary, is an excellent destination
45:27because you aren't too far from France
45:29and mentally, it's simpler. You will
45:32also find people you can relate to,
45:35because for a first move, going to
45:37Bangkok is cheaper than a destination
45:39like Dubai or Miami, for example. But
45:43you will be surrounded by Asian people,
45:46and so you might experience a huge
45:49culture shock. So I think the easiest
45:53and best thing is to give yourself a
45:55few months to study the different
45:57countries that might suit you, and go
45:59there for at least two weeks, for
46:01instance, and try to live like an expat
46:04. Not necessarily doing tourist
46:06activities. If you go to Thailand, sure
46:08, visit a few temples, it's nice, but
46:10try to visit the neighborhoods where
46:12you could actually live. Try to reach
46:15out to the expat network, talk to them,
46:18ask them about the pros and cons, like
46:20"You've been living here for a while,
46:22what do you think?" Try to build a
46:26network on the ground. I think your
46:29network is really what can tip the
46:31scales in your decision to move to one
46:34country or another. I know many expats
46:37also try to stay in Europe because it's
46:40easier. But there are many countries in
46:43Europe where the tax burden is quite
46:45close to what it is in France. I'll
46:48give you the example of Switzerland,
46:51which I personally think is an
46:52excellent country, but perhaps more
46:54aimed at investors. Marbella in the
46:57south of Spain, I lived there, so I can
46:59tell you, it's a superb city. On the
47:01other hand, well, 6 months of the year,
47:02it's really dead. So there are 6 months
47:04of the year where it's great. But there
47:05are still 6 months of the year where
47:07it's not very lively and there are far
47:09fewer people. I think there are other
47:11cities in Spain, for example, that are
47:13interesting, like Valencia or Malaga,
47:15or Madrid. I think it's an excellent
47:17city. Italy, I personally love it for
47:20vacations, but living there, it doesn't
47:22really interest me, even if there is a
47:25tax regime that is interesting for
47:27people who make a lot of money with
47:29their business, since you pay €
47:30300,000 per year in taxes and, no
47:32matter how much you make, well,
47:34actually all the rest goes in your
47:36pocket. So that's interesting, but for
47:39people who start making several million
47:41euros in profit per year, what's
47:42interesting about Thailand is that you
47:44have a territorial tax system. This
47:47means that all the money you earn that
47:49you don't bring back into Thailand is
47:51not taxed. So, indeed, consult with a
47:53tax lawyer to confirm what I'm telling
47:55you here. But today, at the time I'm
47:57making this video, well, that's the
47:58case. There are other countries that
48:00might also cross your mind. It could be
48:02, for example, Panama. I have two
48:04friends who live there. Julien from the
48:07YouTube channel Aosa TV and also Elliot
48:09. Elliot Ewit, who is a trader with
48:11whom I did a podcast not long ago that
48:14actually did very well. Apparently, you
48:16guys like our combo. And so, to close
48:19on Dubai, well, I think Dubai is made
48:22for people who are already making at
48:24least a minimum of 1.5 million euros
48:27per year in profit. I think if you make
48:30less than that, you're going to have
48:31frustrations and you're going to have
48:33stress because the cost of living is
48:35extremely high. Next question, which
48:37asks me for my roadmap to get through
48:40the next decade in France. Well,
48:42honestly, I think there are a lot of
48:43things that aren't heading in the right
48:44direction. And I'm not talking about
48:45taxation. I'm speaking to you from the
48:47perspective of poor immigration. I'm
48:49not talking about nationality here, I'm
48:51talking about the profiles of people
48:52arriving. And so, most of the time,
48:55these are people whose profile won't
48:57improve the economy in France. I'll
49:00give you the example of Singapore,
49:01which is a country I adore. They have
49:04full control over their expatriation
49:06today. If you don't bring added value
49:07to the country, you have no business
49:08being in the country. And so, I think
49:10that is really the best strategy for
49:12accepting people into a country: being
49:15sure, being convinced that these people
49:17will contribute something, and we can't
49:19solve all the world's problems. I think
49:22France is already helping enormously by
49:24giving money to many countries around
49:25the world for years. Well, it's the
49:27French taxpayer paying for it today. I
49:30don't think France is redistributing
49:33the taxes it collects in a serious way
49:35today. We see it today with the
49:39healthcare system in France, which is
49:41really not great, whether in terms of
49:43the quality of care or the speed of
49:45care. You see it, if you need an
49:48ophthalmologist tomorrow, well, you'll
49:50have to just grin and bear it for
49:51months. And abroad, it's not like that
49:54at all. I'll give you the example of
49:56Dubai, Bangkok, Singapore. You make an
49:58appointment in the morning, and within
50:00a few hours, you have an appointment,
50:02you can get a scan, you get
50:04international insurance, it costs you
50:061,000 to 1,500 dollars a year and
50:08you're covered from the very first euro
50:10. While in France, well, most of what
50:14you pay in taxes today goes to social
50:17security, for care, and so on. There is
50:20also a large portion that goes toward
50:22repaying the French debt. Today, few
50:24people want to lend money to France. So
50:25France is raising interest rates. So
50:27naturally, interest rates are higher.
50:30So naturally, France has to repay more.
50:32Guess who is going to repay, who is
50:33going to pay for the increase in
50:35interest? Well, it's the taxpayers. So
50:38France is going to increase, well,
50:40increase tax collection today. It's
50:43logical. We also see it in France in
50:46terms of security. My father was a
50:49police officer, he is retired now, but
50:51the figures he was already sharing with
50:53me back then and today, it's really
50:55just getting worse and worse. So, what
50:58I think is that the trajectory is, if
51:00you really want to stay in France, I
51:02think leaving the capital city is
51:04already a logical step. I think living
51:09in cities where there are mayors who do
51:12more of the work for their citizens, I
51:15think that is important. I think the
51:18upcoming elections are important, but
51:20they won't fundamentally change what is
51:23happening. Why? Because France is so
51:25deeply rooted in a certain situation
51:27that it won't be resolved in a single
51:29term. Uh, I think if I wanted to get
51:33rich in France today, I think having a
51:35very good, well-paid job to borrow
51:37money, to invest in real estate, and
51:40then getting out of France, could be
51:42something that makes sense. I think
51:45there are still some very beautiful
51:47cities in France. I think there are
51:49cities that are still preserved from
51:51the unhappiness, the misfortune today
51:53that is affecting France. France is a
51:56very, very beautiful country. The
51:58culture is great. Uh, now look: if you,
52:01if you aspire to become an entrepreneur
52:02and an investor, well, it's true that,
52:04from a networking perspective, from a
52:06taxation perspective, from the
52:07perspective of financial products
52:09available to you, Europe actually
52:10forbids you from investing in the best
52:12financial products. Uh, the European
52:15financial market authorities forbid you
52:17from investing in the most interesting
52:19financial products, which are US ETFs.
52:22You don't have access to those products
52:24. So, what substitutes for those
52:26products are, uh, synthetic replication
52:29products with fees that are 10 times
52:31more expensive, which are mostly
52:33domiciled in Ireland or Luxembourg.
52:36France is currently threatening to
52:38eliminate those products as well. The
52:40few tax advantages that exist in France
52:42today are not interesting. It's a tax
52:44carrot that leads you into a financial
52:46vehicle that is not worthwhile. So,
52:49whether it's from an entrepreneurial
52:50standpoint, personal wealth building,
52:52or even just growing your money or
52:53protecting it, I find it really
52:54complicated. And also, personally, I
52:58owe a big part of my success to the
53:00networks I’ve encountered, to people
53:02who are much wealthier than me and who
53:05woke me up, who educated me on how the
53:07richest people invest and manage their
53:09money. And so today, well, the richest
53:12people in France tend to hide
53:14themselves. We see it, for example,
53:17with the massive hack that hit the
53:19French government's tax website. You
53:23are not safe. I have many expat friends
53:25, and they have friends living in
53:28France who are a bit wealthy, and
53:30they've been victims of home invasions,
53:33partners being kidnapped, and so on.
53:36It’s no longer a safe environment. So
53:38, when a country fails to provide its
53:40number one need, which is security, I
53:42think whether you’re an employee or
53:44an entrepreneur, you need to stay safe.
53:48So, either move to a city that is more
53:50discreet, and even then, you’ll
53:52likely still be a victim of something
53:55physical. So I think it’s better to
53:58move to countries where you are
54:00physically safer. And I know some will
54:03say, "Yeah, but that’s awful because
54:06France gave you an education, for
54:09example, and allowed you to succeed
54:12because of that." Actually, you can
54:14give back to the country, you can give
54:16back to its citizens, but not
54:18necessarily to the government, because
54:19you can see that even in France, even
54:21if you pay a ton of taxes, the country
54:23doesn't give it back to its citizens.
54:25It’s just a minority of people
54:27feasting on your back. So even if you
54:30stay in France, you aren't really
54:31giving back to the government or the
54:33French people who contributed,
54:34regardless of what you pay in taxes. So
54:36for me, that’s an argument that just
54:39doesn't hold up. I think we can give
54:41back to the French people in other ways
54:43. Like for instance, I’ve been making
54:47these YouTube videos for a long time,
54:49and I’m sure it has helped hundreds
54:51of people, if only to be inspired or to
54:54spark something so they say, "Let's do
54:56it." That’s my way of contributing,
55:00by continuing to make these YouTube
55:01videos which, honestly, bring me
55:03nothing at all. It’s just to stay
55:06active, learn new things, build a
55:08community, grow my network, and so on.
55:11But purely from a financial perspective
55:12, these YouTube videos earn me
55:14absolutely nothing. It’s really zero.
55:17So everyone has their own way of, uh,
55:19giving back to the French people and
55:21not to a handful of elites who gorge
55:23themselves on tax collection, simply
55:25put. Next question, tell us in detail
55:28about your experience in the profitable
55:29restaurant business that you sold
55:31anyway. Well, I launched my first
55:34restaurant called Lava, which is a
55:36steakhouse in Bangkok, Thailand, and,
55:38uh, it’s a restaurant I founded. So
55:41for me, I’ve always been just a
55:42passive investor, even if sometimes I
55:44gave my opinion or lent a hand a little
55:46bit, but very briefly. It’s a first
55:47restaurant that I launched a few years
55:49ago now. I don’t remember exactly,
55:50maybe three and a half or four years.
55:52It’s a steakhouse. And so, I can’t
55:54give you the numbers because my former
55:56partners wouldn’t like me to say
55:57exactly how much I was making from it.
56:00So I founded this first steakhouse,
56:01which was a successful experience; from
56:03the very first months, we were making
56:04money. Uh, then I founded with that
56:07same group of people two Italian
56:08restaurants, which this time were also
56:10in Bangkok but in shopping malls—not
56:12in supermarkets, but in shopping malls.
56:16Uh, and so these two Italian
56:17restaurants were really a hit. So,
56:20we’re talking about each of the
56:22Italian restaurants—it was six
56:24figures in profit per year. Uh, and
56:28then later on, I bought shares along
56:29the way in another restaurant called
56:31Pastel, which is a festive restaurant
56:33also in Bangkok. And so, I’ll tell
56:37you, the group—this group of
56:39restaurants—was making more or less
56:4015 million dollars a year in revenue
56:42for about 5 million dollars a year in,
56:44uh, profit. And so, uh, I sold those
56:47shares. So I can’t give you the
56:49details of how much I sold for because
56:51I am actually under a non-disclosure
56:53agreement. So it’s a clause in a
56:55contract that prevents me from telling
56:57you how much I sold for and to whom,
56:58because, well, the people who bought me
57:00out want to stay discreet about this
57:01information, and so I can’t give you
57:03the details. Uh, however, what I can
57:06tell you is that, indeed, they are
57:08happy and I am happy, uh, with the deal
57:10we reached on the sale of those
57:11restaurant shares. And I used that
57:13money to invest mainly in private
57:16equity, via our club deal, and to
57:18invest in the stock market. There you
57:20go, I can’t tell you much more than
57:21that. Next question, I have 50,000 €
57:23to invest, private equity or otherwise.
57:25Well, if you only have, so to speak,
57:2850,000 euros in assets, I'm sorry to
57:30say this, but I have to tell you what I
57:32really think. If you only have 50,000
57:35euros in assets, don't invest in
57:36private equity. If you have—in any
57:39case, not with me—because for us, the
57:41entry ticket is several tens of
57:43thousands of dollars. So if you don't
57:45have at least 200,000 euros in assets,
57:48there's no point in investing with us.
57:50Now, there are other forms of private
57:52equity that many former infopreneurs
57:55are launching on YouTube that offer you
57:57to invest with much lower amounts.
57:59Maybe, I don't know everyone's
58:01investment clubs. What I can tell you
58:04is that serious private equity is
58:05private equity that requires a minimum
58:07of 50,000 euros to invest in a single
58:09asset. So no, if I had 50,000 euros in
58:13assets, no, I would keep 10,000 euros
58:16aside and the remaining 40,000 euros, I
58:19would invest mainly in the stock market
58:22or in US government bonds. And no, I
58:25wouldn't get into private equity.
58:27Another question, still in the field of
58:29finance: 1 million euros in net assets,
58:31in what percentage of asset classes
58:33would you invest for 1 million in
58:35assets? That, indeed, is where it
58:36starts to get interesting in terms of
58:38allocation. So, how do you allocate
58:40your assets? It depends on who you are.
58:42Why? Because everyone has a different
58:45perception of things. For example, for
58:47some, investing in the stock market is
58:49risky. For others, they'll say, "Well
58:50yes, it's volatile, but it's not
58:52necessarily risky in the long run." For
58:54others, when I talk about real estate,
58:55they'll say, "Oh no, I definitely don't
58:57want to invest in real estate because I
58:58prefer to have a very large liquid
59:00portion of my assets." So, it all
59:02depends on your perception. But if I
59:05had to give a rough estimate for all
59:07the profiles who might be watching this
59:09YouTube video, I would say that when
59:11you have 1 million in assets, well, you
59:13could put, for example, 30%in private
59:15equity, 30%in stock market investments,
59:18and 30%in real estate, whether it's
59:20physical real estate or paper real
59:22estate. And for the stock market part,
59:25you can invest mainly in a world ETF,
59:27for example. For the private equity
59:30part, you can invest either directly
59:32with private banks or you invest
59:34through private equity club deals that
59:35seem serious to you. As for ours, I
59:39don’t like praising my own private
59:40equity club deal because it is in my
59:42interest for you to invest alongside me
59:44, even though we have much more capital
59:46than good businesses to buy. I’m
59:49transparently providing the link to our
59:51private equity club deal website in the
59:53video description, and you can see all
59:55the information, the track record, and
59:57so on. And for the remaining 10%, well,
1:00:00put that into your own personal
1:00:02convictions. That could be in Pokémon
1:00:05cards, it could be in watches, it could
1:00:07be in crypto, and so on and so forth.
1:00:10So, the more conservative your profile
1:00:12is, the more you will reduce the stock
1:00:14market portion, but not necessarily the
1:00:16private equity portion, because what
1:00:18determines whether you make a good or
1:00:21bad private equity investment is not
1:00:23its liquidity. It’s just like real
1:00:26estate. You don’t determine the
1:00:28quality of a return on investment in
1:00:29real estate based on whether it is
1:00:31liquid or not. So, for me, what
1:00:34primarily determines if your private
1:00:36equity investment is good or not is the
1:00:38quality of the management team and the
1:00:40vehicle, meaning the business you are
1:00:42taking a stake in. These are really the
1:00:45deciding factors in knowing whether
1:00:47it’s a good investment or not. So
1:00:49there you have it: 30%private equity,
1:00:5130%stock market investment, 30%real
1:00:54estate, and 10%in a personal conviction
1:00:56pocket. Now a question that comes to us
1:00:58from an investor who invests alongside
1:00:59us. So, Julien, how can I grow the
1:01:01dividends I earn from private equity
1:01:03with you? Well, in fact, every month we
1:01:05redistribute the profits from the
1:01:07businesses we’ve acquired and have
1:01:09under management. And so, how do you
1:01:12grow the money you earn alongside us?
1:01:16Well, there are several ways. The first
1:01:18way, which is logical, is to use that
1:01:20money and reinvest it, for example,
1:01:22either in other projects or in other
1:01:24online businesses alongside us. This
1:01:27can be done if you have a holding
1:01:28company, for example, and you hold
1:01:30shares in online businesses with us,
1:01:32but you could also withdraw them and
1:01:33invest them in the stock market via
1:01:35your holding company. Actually, it will
1:01:38mostly depend on how you invested with
1:01:41us and which country you are a tax
1:01:43resident of. Because indeed, you don't
1:01:46want to receive the money personally if
1:01:48you are a French tax resident, because
1:01:50you'll encounter tax friction. So it is
1:01:53better to invest through a holding
1:01:54company or to reinvest alongside us in
1:01:56upcoming deals. From a purely
1:01:58mathematical standpoint, it is much
1:02:00more advantageous to do that. So if you
1:02:02are investing alongside us personally,
1:02:05well, it is better to reinvest the
1:02:07dividends with us in future businesses.
1:02:11Now, if you are an individual investor
1:02:13but expatriated in a country with
1:02:15territorial taxation, meaning you won't
1:02:17pay taxes on what we send you, then
1:02:19indeed you can grow it however you like
1:02:21, since there is no tax on it. Next
1:02:24question: what percentage of liquidity
1:02:26do you keep in your portfolio ready to
1:02:28be deployed? Well, my profile is unique
1:02:31, everyone has their own situation, but
1:02:34indeed, right now I have more or less
1:02:3610%of my wealth invested in US Treasury
1:02:39bonds. So, it’s a pool that is 100%
1:02:41stable. So, I collect the coupons—we
1:02:43don't call them interest, we call them
1:02:44coupons. And so, I am earning roughly 4
1:02:46%on the money sitting there. And that
1:02:48is money that is available immediately.
1:02:51So, I have no interest in keeping money
1:02:52just sitting there. Honestly, I don't
1:02:55have much in my personal bank accounts
1:02:57in pure cash currency. Why? Because I
1:03:00don't spend much compared to what I
1:03:02have or what I earn. So, my general
1:03:05advice for anyone would be to keep at
1:03:08least 3 to 6 months of expenses in
1:03:11advance, and the more advanced your
1:03:13profile is, at most have one year of
1:03:16expenses set aside. Because if you are
1:03:19an investor and you invest mainly in
1:03:21the stock market or real estate, well,
1:03:23you could indeed have a tenant who
1:03:25doesn't pay. There could be a year
1:03:27where the stock market struggles.
1:03:28Indeed, those are not the moments you
1:03:30want to sell your property or your
1:03:32shares. Hence the benefit of also
1:03:34diversifying into private equity or
1:03:36bonds. And ultimately, it's the mix of
1:03:38all that which allows you to have,
1:03:40indeed, a certain peace of mind. So,
1:03:42the wealthier you are, the more buffer
1:03:44you'll have for your expenses, but in
1:03:45percentage terms, it will eventually be
1:03:47dwarfed by the size of your total
1:03:49assets. Next question: when investing
1:03:51in an asset, what contract do we have
1:03:53with that company to certify our shares
1:03:55? An interesting question that comes to
1:03:57us from Pedro. Well, you don't invest
1:03:59in an asset; you invest via an asset.
1:04:03Meaning that when you invest alongside
1:04:06us, and not in us, the money is
1:04:08effectively sent to an escrow account.
1:04:11It is sent to an SPV, which stands for
1:04:14Special Purpose Vehicle. So, it's a
1:04:16company created specifically for the
1:04:18occasion that collects the funds to be
1:04:20invested. And so, this money sent to a
1:04:24company's account, most of the time in
1:04:26the United States, is then sent to the
1:04:29business sellers or to an entrepreneur
1:04:32selling their shares, which we will
1:04:35have negotiated beforehand. That is
1:04:38where the real value of an asset lies.
1:04:40And so, the assets are ultimately held
1:04:43by the company in which you have shares
1:04:45. And as a result, you actually receive
1:04:48two documents directly. The first
1:04:50document is the investment contract
1:04:53between you and us. And the second
1:04:56document that you will sign once the
1:04:59money is deployed is what is called a
1:05:01shareholder agreement. It is
1:05:05essentially the certification that you
1:05:06are, alongside other investors,
1:05:08part-owner of a company, and that
1:05:10company makes money. And since you own
1:05:14a small part of this company, a portion
1:05:16equivalent to your stake is owed to you
1:05:19from the profits, and that is what gets
1:05:21redistributed to you on a monthly basis
1:05:24. There you go, as simple as that. And
1:05:26for those who want to know the process
1:05:28in detail, once again, head to our site
1:05:30, book a call, and we will explain
1:05:32absolutely everything on the phone,
1:05:34every step of the investment. We also
1:05:36try to learn who you are and whether
1:05:37this type of investment is right for
1:05:38you. We prefer that you feel relaxed
1:05:41and truly understand everything from A
1:05:43to Z. There are also risks with this
1:05:45type of investment, like any other, and
1:05:47we just want to be sure you are the
1:05:48right fit and clearly understand what
1:05:50you are investing in alongside us. Next
1:05:53question from Victor: "Is coming to
1:05:54work in Dubai a good idea in my opinion
1:05:56for the purpose of saving money?" Well,
1:05:59it depends on the job you can get, but
1:06:02honestly, anything in the more classic
1:06:05roles, like serving, uh, and so on,
1:06:07those aren't very well-paid jobs. I
1:06:10think the salary you’re going to earn
1:06:13in relation to the cost of living just
1:06:15doesn’t make sense. You won’t be
1:06:18able to save much money, unless
1:06:20you’re actually working for a great
1:06:21company that pays you a lot. So, Victor
1:06:24, I think you shouldn’t overthink it:
1:06:27you first need to send out some CVs and
1:06:29cover letters, come here in person,
1:06:31meet the people who could potentially
1:06:33hire you, and then ask yourself: "Okay,
1:06:35if I earn this much, what will my cost
1:06:38of living be here?" It’s really
1:06:40important to take that into account and
1:06:42then do a quick calculation of how much
1:06:44money you’ll actually be able to set
1:06:45aside. But I’ll tell you honestly,
1:06:47there aren't many salaried jobs that
1:06:49pay well when you live in Dubai. I
1:06:52think Dubai is really a service-based
1:06:54country where you’re competing with
1:06:56many other nationalities who would
1:06:58probably be happy to work for less.
1:07:01Take the example of the Pakistanis, for
1:07:03instance, who make up a portion of the
1:07:05population here in Dubai and might work
1:07:07for much less than what you’re
1:07:08expecting in terms of pay. Now for a
1:07:11more philosophical question: how do you
1:07:12find your life's direction? I feel
1:07:14empty after 4 years of e-commerce at
1:07:17age 21. So, Dorian, to answer your
1:07:20question, I’d say your activity needs
1:07:22to have meaning for you, because it’s
1:07:23true that when you do e-commerce, you
1:07:25don’t always see the added value if
1:07:27you’re selling products that are kind
1:07:28of useless. I’m not saying that’s
1:07:32what you do, I’m just saying it’s
1:07:34hard to see the impact that it can have
1:07:36on others. Personally, doing this
1:07:39YouTube channel, you see, I have a real
1:07:41understanding of where it can help
1:07:43other people. So I think the products
1:07:46you sell need to have meaning for the
1:07:48buyers, and you could potentially help
1:07:49others, whether by selling courses. I
1:07:52think it’s great to sell courses if
1:07:54they actually teach real things to
1:07:55other people. I think the only case
1:07:57where selling courses is harmful is
1:07:59when people invent an expertise they
1:08:01don't have. And it's true that it's
1:08:03quite easy for many people to fake
1:08:05expertise and sell courses. Now, I
1:08:08think that if you sell products you are
1:08:10aligned with, that you use personally,
1:08:12well, I think that's great. It's going
1:08:14to make sense. Where you can perhaps
1:08:17get closer to something that will give
1:08:19you a guiding principle is the meaning
1:08:21you also give to the money you earn. If
1:08:24you spend your money recklessly, it's
1:08:26true that it doesn't make sense, no
1:08:27matter how much you earn. However, if I
1:08:29take my own case for example, for a
1:08:31long time I earned a very good living,
1:08:34and still do today, but when I started
1:08:36earning well, I gave money to my family
1:08:38. And so, for me, it really made a huge
1:08:41amount of sense. I also gave money to
1:08:44causes that are dear to me. And so,
1:08:47once again, that gave it meaning. I
1:08:50know why I earn money. I also know that
1:08:52I am going to start a family. So the
1:08:54money I earn today and in the future
1:08:56also has meaning. So I think the most
1:08:58important thing is to be aligned with
1:09:00what you do and to be aligned with the
1:09:02money you earn and how you are going to
1:09:03spend or invest it in the future. Next
1:09:05question: what do I think of people who
1:09:07plan to invest in real estate in France
1:09:09? Well, I think they may not have an
1:09:12understanding of other markets. And so,
1:09:15it's true that when you only know the
1:09:17French real estate market, you might
1:09:18tell yourself, well, I'm going to
1:09:20invest in that. Depending on the
1:09:21continents where they grew up and where
1:09:23they live, people generally favor
1:09:24particular asset classes. Like in the
1:09:27United States, for example, Americans
1:09:29will invest in the stock market, people
1:09:31in Europe will mainly invest in real
1:09:33estate, and people in Asia will mostly
1:09:35invest in gold or companies. And so, if
1:09:38you have indeed spent your whole life
1:09:40in Europe or particularly in France,
1:09:42it's true that in everyone's mind, real
1:09:44estate is solid, it's safe. But indeed,
1:09:48when you look at the real estate
1:09:49figures in France versus, for example
1:09:50—I don't like to praise other
1:09:52countries that may be better in a
1:09:53particular area than France—but still
1:09:54, you have to open your eyes.
1:09:57Regulations in France are not evolving
1:10:00in favor of property owners, and rent
1:10:03caps, the taxes being levied, and the
1:10:05administrative burden really lead me to
1:10:08think that real estate in France does
1:10:11not have a bright future ahead of it.
1:10:16So, that is just my perception, and I
1:10:18think you should ask your favorite LLM,
1:10:21you should ask your ChatGPT or your
1:10:23Claude, "Compare the French real estate
1:10:26market with real estate in Switzerland,
1:10:28Belgium, Portugal, Spain, and so on,"
1:10:31and simply weigh your options and ask
1:10:33yourself, "Can I get access to credit
1:10:36if I want to invest in this?" Do I see
1:10:39myself holding a property in France for
1:10:41the next 10 years and dealing with all
1:10:43the problems that may come with that?
1:10:46I'm telling you, the number two source
1:10:48of people investing alongside us in the
1:10:49Online Asset private equity club deal
1:10:51are people liquidating their real
1:10:52estate in France because they've had
1:10:54enough. So the number one source of
1:10:56people investing alongside us are
1:10:58entrepreneurs who are making money.
1:10:59Source number two are people selling
1:11:01real estate in France because they've
1:11:02had enough. And the third source are
1:11:04people liquidating part of their stock
1:11:06market portfolio because there is too
1:11:07much volatility and they want to
1:11:09diversify their assets. So I think it
1:11:11is really important that you have a
1:11:12vision of who is investing in France
1:11:14today. And I don't think it's the best
1:11:17asset class to prioritize for a first
1:11:19investment, or even if you are
1:11:21extremely wealthy, it's just going to
1:11:23create problems for you. You don't want
1:11:26to bother with that. So my view is that
1:11:29I don't have any particular opinion on
1:11:31people who want to invest in real
1:11:32estate in France. I am simply saying
1:11:35that I think they are people who lack a
1:11:37vision of what is offered outside of
1:11:38real estate in France. So it's always a
1:11:40matter of comparison. And if that is
1:11:42all you know, then it is true that it
1:11:44is reassuring to invest in it. So I
1:11:46could offer a little piece of advice
1:11:48for those people: find out about what
1:11:49is possible to invest in outside of
1:11:51real estate in France. Look into that,
1:11:54and I think you should always invest
1:11:56responsibly, and if it really reassures
1:11:58you and you are convinced and you wish
1:12:00to live and stay in France for many
1:12:02years to come, then why not? if you
1:12:05have an advantage over the rest of the
1:12:06market. But if that's not the case,
1:12:08don't sweat it and go elsewhere. Next
1:12:10question: is it possible to one day do
1:12:13a real-world investment example video
1:12:15via en7et? So, why is it true that I
1:12:18don't tell you everything on YouTube,
1:12:20and that's normal. Why? Because when
1:12:24you invest alongside us, and even when
1:12:26we don't, we actually sign contracts,
1:12:28and in those contracts, when we take
1:12:30shares or buy businesses, we have
1:12:32what's called an NDA, or non-disclosure
1:12:35agreement. So I can't tell you how much
1:12:39the businesses we buy earn, or how much
1:12:41in dividends we redistribute to our
1:12:43investors every month. I can only give
1:12:46you broad ranges. Why? Because I am
1:12:48restricted, not by open secrets, but by
1:12:51the agreements I have, and my company
1:12:53has, with the businesses we either
1:12:56manage or by confidentiality toward the
1:12:58investors who invest alongside us,
1:13:01because if I reveal which businesses we
1:13:04invest in, well, people could actually
1:13:06try to harm those businesses. So it's
1:13:09in the interest of en7et and its
1:13:12co-investors to keep quite a few things
1:13:14confidential, and besides, it's
1:13:16contractual. Uh, I can't tell you
1:13:19exactly everything from A to Z, and
1:13:21that's why investors who want to invest
1:13:23alongside us, we first talk to them on
1:13:25the phone. Some also come to visit us
1:13:27in our offices in person. It's very
1:13:29good that way, they really see how we
1:13:31do things. But on YouTube, you as a
1:13:35viewer don't have a non-disclosure
1:13:38agreement with me. So I can't publicly
1:13:41state a lot of information. Hence the
1:13:43value of scheduling a call with my team
1:13:45, my partner, or a member of my team.
1:13:48And there, we'll be able to tell you a
1:13:50bit more about how we do it, why we do
1:13:52it, the amounts invested, and well,
1:13:53typically to give you some information,
1:13:55roughly speaking for now, tens of
1:13:57millions of euros have been invested
1:13:59alongside us. So part of these
1:14:02investments comes from my own capital
1:14:04and my partner's capital, since on7et
1:14:06was founded so that my partner and I
1:14:09could invest our own capital in online
1:14:11businesses in the United States. The
1:14:14returns we make are well above 15%per
1:14:16year, and they are redistributed, plus
1:14:18a large portion of profits is realized
1:14:21when we sell a business. So, what we
1:14:23actually do is—let me give you a
1:14:24concrete example. Let's assume we buy a
1:14:26business that makes 1.5 million in
1:14:28annual profit. We buy it for, let's say
1:14:30, 6, 7, or 8 million euros. Well, those
1:14:346, 7, or 8 million euros will come from
1:14:36my own money, my partner's money, and
1:14:38also from investors who watch our
1:14:39videos. We pool this money together.
1:14:42This money is sent to the seller of the
1:14:43business. We take control of the
1:14:45business—even if I’m telling you in
1:14:46that order—but actually, we take
1:14:48control of the business before the
1:14:49person receives the money because, in
1:14:50between, there is a lawyer. This lawyer
1:14:52will escrow the funds, meaning they
1:14:54will hold them, and only once we have
1:14:56taken control of the entire business is
1:14:58the money actually given and made
1:15:00available to the business seller. And
1:15:03sometimes, we even have clauses with
1:15:05the seller where they won't get all the
1:15:07business money at once; they will
1:15:09receive it gradually. So, each
1:15:11investment is done on a case-by-case
1:15:13basis. All investments are different,
1:15:15and we only invest in businesses that
1:15:17operate in the United States market. We
1:15:20have no businesses operating in France.
1:15:23I don't want to because I don't want to
1:15:25deal with French regulations, which are
1:15:27too heavy. And also, when we sell a
1:15:29business—I'll tell you honestly,
1:15:30because I'm often asked, "Theo, how do
1:15:32we sell a business in France?" I’ll
1:15:35tell you, there are few people and few
1:15:36private equity funds that buy
1:15:38businesses in France because there are
1:15:40too many taxes, the regulations are a
1:15:41pain, and from a banking perspective,
1:15:43it’s a hassle. So, all these are the
1:15:46reasons why we operate in the United
1:15:48States, because everything is much
1:15:50easier. The banking side is simpler.
1:15:53The amounts we receive, the amounts we
1:15:55deploy, and the amounts we manage—
1:15:57indeed, all of that would be too
1:15:59complicated to do in France. And that
1:16:01is the reason why we don't do it. The
1:16:03same goes for when we sell a business;
1:16:04it is much easier to find a buyer for
1:16:06our businesses in the United States, or
1:16:08at least in the English-speaking market
1:16:09, than in the French-speaking market.
1:16:11Simply because the volume isn't the
1:16:13same. There aren't as many wealthy
1:16:15people who speak French as there are
1:16:17who speak English. There you have it,
1:16:18that's just how it is. Even if in
1:16:20Switzerland, there really is a
1:16:21concentration and a core. Outside of
1:16:23that, there aren't many private equity
1:16:25funds capable of buying businesses of
1:16:27the size we handle. So that's why we
1:16:28operate in the U.S. market. And so,
1:16:30there you go. So basically, once we
1:16:32have the business under management, we
1:16:33redistribute a portion of the profits
1:16:34every month. I say a portion of the
1:16:37profits because we always keep a little
1:16:38money in the company to cover the
1:16:40coming months of expenses. And there
1:16:42you have it, these are businesses that
1:16:44most of the time provide services. We
1:16:46don't invest in businesses that provide
1:16:48products, so those that do e-commerce.
1:16:50We only buy and deploy companies that
1:16:53offer services. In any case, for now,
1:16:56we've always operated like that,
1:16:57whether it's financial services. Uh, we
1:17:00also operate in the healthcare field,
1:17:01we also operate in the legal field in
1:17:03the United States. And indeed, if I
1:17:06told you the names of the companies we
1:17:08have, I truly think that maybe 20%of
1:17:10you would know the companies we have
1:17:12under management. And I would be happy
1:17:14to tell you the names of the companies
1:17:15we have under management. It's just
1:17:17that from a contractual standpoint, I
1:17:19cannot tell you which ones they are.
1:17:20Question now from Steve. Five stocks to
1:17:23hold for life according to you. Well
1:17:26for me, I think stocks are nice when
1:17:28you want to try and find a needle in a
1:17:30haystack. The reality is that you will
1:17:32always ask yourself questions. You'll
1:17:34always tell yourself, "Ah, I need to
1:17:36check if the stock is still interesting
1:17:37. Ah, the price has exploded. Wouldn't
1:17:39it be time to sell?" I recommend
1:17:41investing in ETFs instead, on the
1:17:43American market or a world ETF.
1:17:46Question from Thomas: "Hi Théo, what
1:17:48is your vision of fulfillment? So money
1:17:50, relationships, inner peace." Well for
1:17:52me, fulfillment happens on several
1:17:53levels of life. It can be on a personal
1:17:56level through helping people. It can be
1:17:58on a personal but family level, the
1:18:00fact of spending time with one's family
1:18:02, helping one's family, starting a
1:18:04family. I think that is interesting.
1:18:06And from a business perspective, it's
1:18:07about doing something that makes sense,
1:18:09meaning truly helping people and
1:18:11providing a quality service from a
1:18:12financial standpoint. Personally, I'm
1:18:14not fulfilled. The more money I have,
1:18:15the more fulfilled I am. That is not
1:18:17the right measuring tool. For me, it's
1:18:19more about how I am going to use my
1:18:21money. It could be by helping out
1:18:24friends, or helping out family. It
1:18:26could be by investing in things that,
1:18:28well, I feel aligned with. It could be
1:18:30fulfillment in terms of intellectual
1:18:32stimulation, like for example via our
1:18:34Alplaci club. I am fulfilled because,
1:18:37from an intellectual stimulation
1:18:39standpoint, I am constantly thinking.
1:18:41It's a real intellectual and human
1:18:44challenge to do what I do. And so, that
1:18:46stimulates me. So I think fulfillment
1:18:49doesn't come from the amount you have
1:18:51in a bank account, but from the way you
1:18:53earn that money and the way you use it,
1:18:56whether by spending it, giving it away,
1:18:58or investing it. Now a question from my
1:19:00friend Elliot. What are the real things
1:19:03you've put in place to slow down your
1:19:06aging? Several things. First, I wore a
1:19:10Whoop, a Whoop strap, to study my
1:19:12health in general, but I don't wear it
1:19:15anymore today. Why? Because I drew
1:19:18conclusions from it, I learned things;
1:19:20I learned the impact of alcohol, for
1:19:22example, on my body. It's true that we
1:19:23don't realize it, but when you drink a
1:19:25glass, even just one glass, the effect
1:19:26on your sleep quality is terrible. Uh,
1:19:29likewise for tracking physical activity
1:19:30, I find it interesting to see the
1:19:32number of steps taken in a day. So all
1:19:35that is good, it allows you to gain
1:19:36awareness. However, I don't like being
1:19:39dependent on a tool that measures the
1:19:41quality of my sleep on a daily basis. I
1:19:44also like to live by how I feel. I
1:19:46don't want to be happy or unhappy based
1:19:48on the percentage of sleep quality I've
1:19:50had. So, what do I actually put in
1:19:53place? Well, I would say the most
1:19:55important things I've put in place are
1:19:57practicing regular sports for over 15
1:20:00years. Uh, there you go, I do weight
1:20:02training, golf. Right now, I'm also
1:20:03playing a lot of padel. Well, I say
1:20:05right now, it's been 3 or 4 years. Uh,
1:20:07next, I would say the most important
1:20:09thing after that is, uh, what I eat. So
1:20:12, I try to eat foods that are as
1:20:14unprocessed as possible. My first meal
1:20:17of the day is usually around noon, and
1:20:19I eat beef with eggs and avocado on a
1:20:22daily basis. Uh, I drink a Cold Press
1:20:25Juice daily, uh, ginger, carrot, orange
1:20:28, and then, from the perspective of
1:20:30things that are a bit more advanced. So
1:20:33, so first do those basics, and then do
1:20:36what I am telling you now. I have an
1:20:38annual blood test, and in this blood
1:20:41test, I study absolutely everything,
1:20:43whether it's vitamins, minerals,
1:20:45everything hormonal, and I get a full
1:20:48body scan to check the quality of my
1:20:50organs, etc. What comes out of, uh, the
1:20:53blood tests is that, well, every year I
1:20:55have small vitamin or sometimes mineral
1:20:58deficiencies, and so, as a result, I
1:21:00have custom capsules made that the
1:21:03hospital, the clinic in question,
1:21:05simply creates for me. And so for 3
1:21:08months, I take these pills, these
1:21:10nutritional supplements, to complement
1:21:11what I need. Because I find it
1:21:14completely useless to watch a YouTube
1:21:16video that says "top 5 supplements to
1:21:18slow down aging"; it really serves no
1:21:19purpose. Because, as it turns out, you
1:21:22might not need those molecules, you
1:21:24might not need those supplements
1:21:25because perhaps you already have enough
1:21:27. Same thing with many supplements I've
1:21:29already heard about, that friends tell
1:21:31me about. "Oh, have you seen that
1:21:33there's a new study that shows..." but
1:21:34yeah, but who cares, because if you
1:21:35don't need it, the supplement you're
1:21:37taking, you'll just flush it out when
1:21:38you go to the bathroom. So it is
1:21:39absolutely pointless. Your body is very
1:21:41smart, and so, it will absorb what it
1:21:43needs, and what it doesn't need, it
1:21:45will send away. So it's no use at all.
1:21:49So, for me, the most important thing is
1:21:50really practicing sports, understanding
1:21:52what you do in your lifestyle—that is
1:21:54to say, the number of steps you take,
1:21:56the physical activity you have, what
1:21:57you eat, the quality of your sleep—
1:21:59all that is the prerequisite. And then,
1:22:03indeed, a blood test, a full body scan,
1:22:05and then supplements that are related
1:22:08to any deficiencies you may have. So,
1:22:11we've only been talking about the
1:22:14internal aging part, and as for the
1:22:16perception or appearance side, yes, on
1:22:18my body and my face, I do various
1:22:21things. For example, I use Botox and
1:22:25injections of certain products from
1:22:27Switzerland, like Profhilo, which is a
1:22:30molecule called hyaluronic acid that
1:22:33your body already produces, but I
1:22:35inject it to help slow down the aging
1:22:38of my facial skin. And so, even if it
1:22:42shows aesthetically, it is also, from a
1:22:44real, molecular perspective, a genuine
1:22:47slowing down of the aging process. And
1:22:50for me, the most important thing is
1:22:52really wearing sunscreen because,
1:22:54beyond the appearance aspect, you are
1:22:56protecting your skin against skin
1:22:58cancer. So that is still super
1:23:00important. A message that, this time,
1:23:03isn't a question but a thank you,
1:23:04because thanks to me, this person is
1:23:07living in Bangkok at 26 years old. You
1:23:10gave me the spark. Thank you, you're
1:23:11welcome. Thank you very much for your
1:23:13message. Next question: what do I think
1:23:15is the asset class that will perform
1:23:17for the end of 2026 and during 2027?
1:23:20Well, I think even if we had the answer
1:23:22, we shouldn't go all-in on it, but I
1:23:24believe a responsible portfolio means
1:23:26investing primarily in the stock market
1:23:28, in the US market. If you have a net
1:23:31worth of over € 200,000, then maybe
1:23:33into private equity. If you have a very
1:23:36substantial net worth, meaning several
1:23:38million euros, then perhaps invest in
1:23:39real estate in growing areas that
1:23:41attract millionaires. So indeed, once
1:23:44again, I'm going to talk about Dubai,
1:23:46because it's the country today that has
1:23:48been attracting the most millionaires
1:23:50for years and years. So effectively,
1:23:53these millionaires need housing, and
1:23:55naturally, that will push prices upward
1:23:57. Today, the supply of real estate
1:24:00properties targeting the millionaire
1:24:01and multi-millionaire segment coming
1:24:03into various countries shows that there
1:24:05is still not enough supply to meet the
1:24:06demand. So for me, the asset classes
1:24:09that will perform best aren't
1:24:11necessarily one specific asset class;
1:24:13it’s more about having stocks, that's
1:24:15for sure, via an ETF. And next, I think
1:24:17that anything that doesn't involve real
1:24:19estate in France, no, I'm kidding. I
1:24:21would say that anything that isn't a
1:24:23specific bet on one particular thing,
1:24:24if you have a small portfolio and all
1:24:26that, you need to, uh, you need to set
1:24:27it aside. I think that, uh, what will
1:24:31touch on the energy sector and the
1:24:32healthcare sector in the US will
1:24:34continue to perform. I think you should
1:24:37especially avoid investing in long-term
1:24:39government bonds or securities because,
1:24:42well, every country in the world is
1:24:44currently tending to raise rates. So
1:24:46naturally, that will end up pulling the
1:24:48price of bonds down. I think that you
1:24:51need to invest responsibly. I, I have
1:24:53no vision on the cryptocurrency side
1:24:54because it's not something that
1:24:56interests me, even if I like the
1:24:57underlying thesis. Bitcoin is not an
1:24:59asset class that I invest in or that I
1:25:01understand. That's why I wouldn't
1:25:02recommend it. I find it too volatile,
1:25:05and the upside of making a lot, in fact
1:25:06, doesn't interest me compared to the
1:25:08downside, which is the very, very high
1:25:10volatility. So, it doesn't interest me.
1:25:13Personally, how do I position myself?
1:25:15Well, it's mainly by investing in the
1:25:17stock market through specific ETFs.
1:25:20Right now it's DGRO, SCHD, or even VOO
1:25:24or VT. I'll put what those correspond
1:25:26to on the screen. And, uh, my recent
1:25:29investment in Dubai is not for the
1:25:31purpose of outperforming. It's an
1:25:33investment I made a bit as a plan B to
1:25:35be able to trigger, if I want, the
1:25:37Golden Visa, which gives me the right
1:25:39to live 10 years in Dubai. So it's not
1:25:42necessarily for the performance it
1:25:43might generate that I invested here. I
1:25:46think that you need to look for asset
1:25:47classes that are a little bit neglected
1:25:49, and honestly, I would leave aside
1:25:50anything related to artificial
1:25:51intelligence. Why? Because I find that
1:25:54it's really overrated; the PE ratio,
1:25:55meaning the valuations of these types
1:25:57of companies, is way too high. So I
1:25:58think that's an asset class to avoid.
1:26:00We are now reaching the end of this
1:26:02video. Thank you very much for your
1:26:03attention and your questions. So, I'm
1:26:05sorry, I received over 200 questions. I
1:26:08only selected a handful, but I tried to
1:26:10select those that covered a maximum of
1:26:12the questions I was asked and that can
1:26:14also help a maximum of people. So,
1:26:16thank you very much for your attention.
1:26:17The link to the website online, our
1:26:19private equity club deal, is in the
1:26:21description. If you have a question,
1:26:23leave it for me in a comment and I will
1:26:25take the time to answer it. I'll see
1:26:27you very soon. Take care of yourselves.
1:26:29Bye bye.

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