Transcription
OK, the sound is rolling. The video is rolling. [ __ ] how I wish I had a job that The sound is rolling, friends, hello everyone. Welcome to this episode of Investia on Friday, November 7th, or Saturday, November 8th. I think it will be released on Saturday. So, Saturday, November 8th. I hope you are all well, friends, in this podcast. I have good news and bad news. The good news is that I finally have heating in my offices. So, well, yes, I'm wearing a sweater because it's November and I live in a part of France that isn't extremely warm, but it's not 10°C, we're not freezing, and that's pretty great. The bad news is that the crypto market is disgusting. Would we have preferred the opposite? Maybe, maybe. Uh, well, the crypto market isn't pretty right now, that's clear and obvious. And, uh, I must admit that my mood isn't, uh, isn't, uh, at its peak on my end. In fact, I prefer to be honest. It's difficult to work in cryptocurrencies. I chose it myself and all, so I'm not here to complain. But when there are moments like this of big doubts, big corrections, and so on, and you're exposed on the internet talking about this subject, you, in fact, I, I absorb all the negative emotion from people. Uh, you see, as soon as there's a correction, I have friends or people who have my contact who send me messages saying, "Ah, the market is gross," and they think, "Well, I'll send a message to him because he's my crypto contact," and they're right. Except that, for me, I'm the crypto contact and I have like 15, 20 messages when I wake up saying, "Ah, the market is disgusting, what's happening, what should I do? I've lost money and all," and, and, well, it's not necessarily easy to manage. But then, when my energy is low because of the crypto market, it's often a sign that we're not far from the bottom. So, on one hand, there you go, but it's true that it's not, it's not easy. Yes, the dog is coming. It's not easy. It's a market that's not easy at all, but hey, if we've survived this market, we can undertake and evolve in pretty much any market. I dream of a market and an environment where, you know, you just have one client, you have a mission to complete, you know your mission, you accomplish your mission, you give them their thing back, they're happy, they say thank you. End of story. You're not dependent on Donald Trump and China and the American shutdown to know if you're doing well or not by trying to make predictions or, in any case, analyses that can be swept aside with a wave of the hand by guys in offices with suits. And that's not easy. But, but hey, we're in this market, we wanted it, we have it. Let's own it now and evolve. But, well, I prefer to tell you this, uh, because, well, because, uh, I don't necessarily always have, uh, the joy of evolving in this environment, which I think is shared by many of you right now. It's a market that gives. It's a market that gives because we can say what we want. Solana was at $80 two years ago, Bitcoin was at $50k or less. It's a market that gives, but it's also a market that takes a lot. And I think financial markets are the markets that bring out emotions the most. And among financial markets, the worst of all in this regard is the crypto market. So, it's complicated. There you go. But it's okay. It's okay because we have a good podcast to do. We're going to talk about different subjects. I remind you of the principle. Uh, I have a lot of little topics about investing and non-investing. So, other elements, and, uh, we'll discuss them. We'll discuss them. Well, we'll start, of course, with a word about the market. Well, about the market, which I've already touched on a bit. Uh, well, the first thing is that we, we had talked about in several episodes, the further we advance in this cycle, the more each correction will carry the Damocles sword of a bear market. And that's very hard emotionally because when you have a correction, you don't think, "Ah, [ __ ] there's a correction, I need to buy back." It's, "Ah, [ __ ] should I buy back because there's maybe a chance this is the start of the bear market." I've thought a lot about this notion of bear market because, honestly, I don't think we're in a bear market, we don't know, you see. Uh, what I tell myself is that, well, a bear market lasts a year. If it's a bear market, it will be over next October. Is that the end of the world? No. And especially, the market doesn't have the same structure now as before, where before crypto projects, like 2020, 2021, raised millions, hundreds of millions, even billions, and so there was a sort of turnover of cryptos that I think is over now, where, well, now there are cryptos that make cash, there are cryptos that no longer do at all. The top cryptos will still be here for me in one or two years. There are certain altcoins that are establishing themselves like that. I'm talking about Solana, Tao, RV, wait, I'm turning off notifications. Hop. All these cryptocurrencies. On one hand, I tell myself, well, if we enter a bear market, the bear market must have started in October, so we're already advanced, and it will end someday, and we absolutely must not fall into the bias that cryptos will never go up again. That being said, I don't think we're in a bear market. Be careful, I think the stick is longer for reasons of liquidity, in particular. It's a bit of the trend of the moment because Jerome Powell talked about it, we've been talking about it for a while, liquidity, and liquidity is the heart, the circulatory system of the crypto market. And so right now, if we remove all this noise around the bear market, the important point impacting the market is liquidity. We saw it, there are four factors influencing liquidity. The outflow from Chinese banks, volatility, the dollar. The problem is that the Fed, well, in fact, the Fed is clever, is that they take actions that are favorable to economic easing, like lowering rates, but then in their discourse, they tighten the screws by saying, "Hey, the next cut, attention, it's not guaranteed." And so, people don't really know how to position themselves, on which foot to dance, and so on, and anticipate this as rather negative news because the general atmosphere is negative, and so negative news will be overinterpreted to the detriment of positive news, which could be, for example, Jerome Powell announcing that he would stop quantitative tightening. But Jerome Powell, the Fed chairman, also said, "Hey guys, be careful because in December there's still the shutdown, if there's a bit of inflation, it's not guaranteed, but there's still a 70% chance it will happen." So, that's how it goes. But if we look at it factually, without bias, well, we have good news. He said he would stop QT in December. No one is really, uh, realizing what that represents, but it represents several tens of billions more in liquidity every month. The Fed will therefore stop letting its securities expire to withdraw liquidity from the system. So, we're talking about almost several tens of billions per month. And, uh, for now, moreover, we are also in a form of disguised QE. Everyone talks about QE, everyone talks about the fact that there is no QE, that liquidity stimulus is needed, but there is. It's just that the mechanisms are a bit more complicated. What is QE? It's the central bank buying securities to put them in its asset portfolio, called the Soma. And so, in exchange, they buy securities for money and that injects liquidity into the system. So, they print money and then they buy securities, they buy debt, boom, and they inject liquidity. It's magical, by the way. Except that the Soma, the Fed's asset portfolio, well, we can also fill it up a bit, uh, from behind the scenes. We can also fill it up a bit more discreetly. And that brings liquidity. It's not a QE mechanism because when you're the Fed chairman and you say, "We're going to launch a QE," you imply that for months, you'll have an economic policy that can create inflation or, in any case, is much more flexible. And so, you're careful about what you say because if you change your mind every month, you create a lot of uncertainty in the markets. And so, there are many mechanisms like that, in addition to the fact that the Treasury is issuing more short-term debt. So, short-term debt is highly sought after by funds. Funds buy it by withdrawing cash from their accounts at the Fed. And so, that puts more liquidity into circulation, in addition to the fact that, uh, there will be the end of the shutdown and the TGA, the Treasury's account at the Fed is currently, uh, is currently blocked, and so there will be billions, hundreds of billions that will be injected. It will be injected, yes, to pay salaries, to pay for many things, but it will be injected into the economy. Okay? Uh, when they printed money during Covid, it was injected into salaries but into the economy, and so it had an impact on financial markets. So, yes, this 4-year cycle isn't lasting 4 years because we have, we have different elements that have delayed us enormously, and the Fed was supposed to lower rates at the beginning of the year. Boom, tariffs, we're waiting for the TGA, the Treasury account at the Fed was supposed to be reduced. So, we were supposed to take money out of this TGA to bring it into the economy starting in October. Boom, shutdown. So, honestly, I'm not burying the crypto market at all because there are still big liquidity stimuli coming, big net liquidity expansions. And for me, the most important thing in this kind of period is to succeed in forming your own opinion, your own theses, and to stop following those of others, which is very difficult because the overall atmosphere is very, very, uh, anxiety-inducing. In the meantime, I remain positioned, I follow my theses, and at worst, I want to say, we'll see. I'm still very exposed to the crypto market. Uh, it's my conviction, and I insist on that. Create your own conviction that allows you to hold on during these times, and it's also time to check if we have the basics in these market crash moments, namely, am I overexposed or not? You'll feel it, it's something where you say, "I have too much money in crypto, in investments." Is my weighting sufficiently based on the big cryptos like Bitcoin, Ethereum, Solana, the top 10? If not, if we're too much into altcoins, we take the information. There's not much to do in these moments because we're not going to sell, we're not going to change, or anything like that. It's just information to take. And when we're more in rising periods because cryptos rebound, I know it's always difficult to visualize, but cryptos do rebound. Cryptos are not eternally dead, don't worry about that, well, it's time to check and precisely to protect yourself and to say how can I better live through this next bearish leg because believe me, there will be one. Well, uh, I'm going to make a few points about cryptos and so on. The goal isn't to add to the anxiety in this podcast. So, so we're not going to talk a lot about the market either. I talked about it in my last video. Uh, you have all my information, there's the video on Sunday for that. The podcast is a reason for me to talk to you about the cool things I do in my life outside, uh, of investing. The smartest among you will have noticed that the investment topics last 2 minutes, the topics on productivity or others last longer. But that's also because it's what makes me happy, and I have quite interesting topics. So, first, something very cool for my podcasts, I don't know if you know it, I basically found an app called Voice PAL, V O I C E P A L. Uh, no sponsorship at all. Uh, and in fact, now when I walk my dog, when I go to the forest and all, I talk to it, and it condenses what you say and creates articles based on that. And so, it allows me to write, for example, the podcast topics while I'm walking, and so while I'm moving, and the energy is quite different, and it's faster too. It's very different, it's very pleasant. So, if you also want to, I don't know, write, develop thoughts, it's pretty cool. The importance of true rest, that's an interesting one. For months, I've been talking about productivity, about how to optimize things because I'm 25, I want to progress in what I'm developing. I want to be organized, I want to be efficient. At the beginning, when I started, like many people, in fact, I got caught up in the tunnel of productivity at all costs. Well, the dog, if you keep going back and forth, it's going to be a bit, a bit annoying. Uh, I got caught up in the tunnel of productivity at all costs. So, waking up at 5 AM, cold showers, meditation. I remember I read Miracle Morning, which explains that when you wake up at 5 AM and you develop time for yourself, everything is miraculous. Spoiler alert: it's false. You're just exhausted, and in the end, you realize it doesn't work. This productivity at all costs because I realized that to be productive, you first need to be rested. There's something very interesting, which is that we all have a kind of internal energy gauge, something we don't see, which is related to stress, which is related to our availability. It's not obvious. It's a bit, I really see it as RAM, your computer's RAM. You know when, well, now computers are a bit more powerful, but a while ago, not too long ago, when you had too many pages open, your RAM was saturated, and so you couldn't do much. When you had a software open, for example, it took up all your RAM, and it was tough. And I think we have a bit of this RAM in us, which is something a bit deep. And maintaining this RAM, this internal energy gauge, is extremely important, both to feel good and to be truly productive and truly effective. I don't know anyone who works 90 hours a week and is productive. That doesn't exist. The people who tell you that, there's one in a million. Really, it's like an Elon Musk sometimes, but I've never seen it. And why? Because the more you work without resting, the more you maintain your, you don't maintain your RAM. And we must have a work ethic. But to have a work ethic, you need to have a rest ethic. To maintain your RAM, to keep your energy gauge as high as possible, you need to know how to rest. When you run, you can't just run all day and think you'll improve; you'll burn out, you'll get injured, your body will react; you need rest. That's where progression happens, ultimately, the fibers, the nerve connections, and so on. You also need to have gradual progression. At the beginning, you'll start with two or three workouts a week, you run 5 km, then 6, then 7, then 8. After a few months, you move to three workouts a week and you increase like that progressively. And in addition to that, and you'll see why I'm talking about running, every 6 weeks or so, it's quite recommended, especially when you do a lot of sports, to have a slightly lighter week to let the nervous system, the muscles, the body, everything inside, breathe a bit and have a longer regeneration than just one or two months of rest. I sincerely think the brain works exactly that way. Efficiency doesn't come from forcing; it comes from having a good balance between effort and recovery. And I talk a lot about productivity, but it's true that it's a good, a good nuance to have. Productivity at all costs, meaning sitting at a desk and working, doesn't work. It's much more complex than that. You need balance, you need to know how to rest. And there's an idea that we've developed with people I work with, which I find incredible, it's the idea of black and white. Do you know the idea of black and white? When you're in the black, it's when your mind is completely focused on work. You only think about that, you're focused, you're moving forward, you're productive. You're in the black, okay? You're in a black zone, a work zone, a development zone. When you get home, you switch to white. You don't think about work at all anymore. You relax, you enjoy yourself, you leave the problems where they are. You'll pick them up again tomorrow. You're in the white. There are two states. Black, white. Black: I'm focused on work. I don't think about home, I don't think about vacation or anything else. White: I'm completely relaxed. The problem is that most people, and myself included, are always in, or at least very often in, a mix between black and white. Gray, which is extremely detrimental. How does gray manifest? When I work, I'll think a bit about my vacation, my friends, things to do at home. I'll be a bit distracted from time to time. When I'm at home, I think about work. As a result, I never really work. I never really rest. Gray phases are really phases to be eliminated absolutely. They are moments when you are neither really working nor really resting. And most people, especially in administrative jobs, in open spaces, and so on, are always, always in the gray. You come home from work, you think about work. You're at work, you don't think about work. And these are moments of non-productivity and non-relaxation. They are useless. It's a kind of blurry zone that drains you without ever recharging you, that isn't productive and isn't at all, uh, beneficial for recharging your energy levels. Ask yourself, are there moments when you are in the gray in your life? There probably are. How can we eliminate these moments? How can we be either in the black or in the white? Why is it interesting to be either in the black or in the white? First, because the brain appreciates intensity, whether it's the intensity of rest or the intensity of work. The brain doesn't like this in-between state where you're a bit stuck. It's very pleasant. You've already had a work session and then you come out, you were really focused and you say, "Wow, I was in the flow, I was in it." It was good, it was satisfying. And then the brain also appreciates rest where, ah, you relax, no matter what you do, you watch a movie, it doesn't matter, you're just in the moment. And I've really worked a lot on this, on this notion, because, and that's why I talk so much about productivity, because productivity is about optimizing every moment of your life, but including moments of rest. So, productivity isn't about saying, "I absolutely must rest, I absolutely must work." No, it's something a bit more fluid like that where you have to succeed in creating a space in which you are intense in what you do and you are present in what you do. And gray is what prevents both. And rest isn't just doing nothing; it's being there. It's being completely in the moment. That's why scrolling on social media, for example, doesn't rest the brain. You think you're relaxing, but your brain isn't resting at all. So, true rest is very important, and productivity must absolutely be nuanced, and there must necessarily be rest that goes hand in hand with productivity, with work. Let's go back to the investment side. I'm alternating at the moment. I find it nice to have the 100k bias. Right now, we're hovering around $100,000 for Bitcoin. We're around 103, 102. We went below $100,000 two or three days ago. Uh, and right now, we hear something: if we go below $100,000, it's over, it's the bear market. But according to whom? And I think this is a misconception about the $100,000 barrier bias. But there's no scientific law that says that, guys. If we look at Polymarket, for example, the chances of going below $100k in 2026, it went back up to 80%. The market won't stop living. If we go below $100,000 in April 2026, we went down to $75,000. Were there stimuli that sent us to $126,000 a few months later? No. The fear level was even higher. Yet, did we go back up? Yes. And be careful with this because we are really in a kind of tsunami of danger with the threat of the bear market and the threat of $100,000. And I think this combination is harmful, and that's why it's a really difficult emotional period in the crypto market because there was a lot of hope. Plus, there's the 100k barrier, plus there's the threat of the supermarket, and so associations are made that are false. It's not because we go below $100,000 that it's over, this bear market. No, not at all. We can go down to $92,000, it can be annoying. Altcoins will be bled dry, but we can also go back up. Cryptos go down fast, cryptos go up fast. Okay? We've experienced it, we've seen it. Be careful not to get caught up in this misconception that if we go below 100k, it's over. And personally, I'm not selling either my Bitcoins or my altcoins. I think it's the worst idea to make strategic changes during a downturn, and I think too many people are overexposed to altcoins in their portfolios, and I've told you, I'll repeat it, at least 70% of your portfolio should be made up of at least top 10 cryptos. I could say Bitcoin, it would be dishonest of me because that's not my case. I have Solana, for example, but we've been talking about it for a while. Don't fall too much into this curve of hellish risk. Alright, second investment topic because I have some short topics that are also related to this. The market is crashing, altcoins are disappointing, many of us are positioned in altcoins, and I see many people talking about the fact that right now it's the trend, the reflection of the moment, that holding altcoins and just holding these altcoins is a scheme that no longer works. You can no longer do buy and hold. You need a more active strategy, try to catch trends, buy low, sell high, and so on. So, do scalping, trading, that's what's coming up a lot right now. This opinion is easy to form in these situations. But first, let's take, say, all the top 10 altcoins. Okay? Imagine we bought and held them since January 2024. I did the experiment, so less than 2 years. Okay? We just bought all the top 10 altcoins in January 2024. We haven't touched anything since now. That is to say, we could have sold at higher moments. Here, we haven't touched anything. What happened? Bitcoin, we made 140%. Trix, we made 170%. BNB 200%, Ether 40%, Solana 70%, Dog 116%. The only one in the negative is Cardano. We made -10%. After all, it's still a good Cardano coin, we've been talking about it for a while. Are there others? No, there aren't others. XRP. Ah, I didn't do it with XRP, but I think it's pretty much the same thing. Wait, let me check where XRP was in 2023, 2024, sorry, it was at 50 cents. Now it's at $2.20. So, we made x4. I could have added it. It would have given an example. So, uh, well, buying altcoins and holding them isn't the worst idea either. The reality is that we're talking about low-cap altcoins, altcoins outside the top 10, which, for their part, aren't showing much. Low-cap altcoins perform at the end of the cycle in sufficient liquidity conditions. You look at 2021, you take an altcoin that was considered low-cap at the time or outside the top 10. You look at 2017, altcoins underperform Bitcoin for a very long time and perform in the last part of the cycle. So, I don't agree with the notion that the buy and hold strategy no longer works. This cycle is much harder. This, it needs liquidity, that's a fact, for sure. But, uh, I find it dangerous because in, it's very easy to say now because there are ups and downs and so on. In practice, good luck making gains on that. Good luck. In fact, it's a trading strategy. Go do trading if you want. So, train yourself in trading. Take 5 years to train yourself in trading. But when you're a long-term investor who does analyses to do buy and hold, to think that you have to do trading on altcoins, for me, it's very dangerous and it's especially extremely false. However, it remains very important to take profits on the way up and to keep cash for crashes, but wanting to do a kind of scalping on altcoins is an illusion. Try it with a demo portfolio, and you'll understand why the arrival of ETFs has absorbed liquidity for the top cryptos for now. Does that mean we should bury altcoins forever? No, but we do need to adjust and take profits more quickly. And I even think that for some altcoins, it's becoming very relevant to hold them for a long time, which was absolutely not the case before. We talked about it earlier. Okay. I felt inspired, and what I've learned in 5 years of entrepreneurship. I'm 25, I started at 20, I started from absolute zero, with no entrepreneurial friends, with zero money. Like, really, I had $80 that I used to buy a crappy microphone. What was it called? It wasn't the Blue Yeti. It was, anyway, I don't remember. Uh, I made a lot of mistakes, I learned a lot, I don't have crazy experience either, but I'll give you a summary of what I learned in 5 years of entrepreneurship. First thing, you can't do anything other than what you love. If you do something you don't love because it makes money or you think it makes money, you do dropshipping, you do affiliate marketing, but it disgusts you, like you don't like it at all. It's a bit of a torment to go there. Sooner or later, it will come back to bite you. That's why you can't do anything other than what you love. Personally, I'm passionate about YouTube. I've been making videos on YouTube for 4 years. All kinds of videos. I love creating videos. I love writing scripts, looking at stats, working on thumbnails, seeing how it evolves, understanding what works, watching videos about the algorithm. It's something that drives me. I can't really explain why, but I really love it. However, I've tried other things. I've tried consulting for companies, B2B, consulting. Consulting is okay, I like it. I have a marketing agency, we tried to launch it, but each time, even if it brought in money and all, I felt that these were things that drained my energy, and at the end of the day, I was like, "Oh, oh, that was tough today." Whereas on days when I'm just focused on a script, at the end of the day, I'm like, "Ah, that was a good day, and my energy wasn't as depleted as before." And this energy gauge, this RAM, is a sign that you're not aligned. Because when you do something you love, you don't need motivation. You just want to get back to it. And do something you love. You won't love what you do every day. That doesn't exist. Or at least, the passionate profession, I have trouble believing in it. But you have to like the core of it, because otherwise, you just won't last. It's impossible. There are very few people who are truly well-intentioned, but not in the way I thought. At the beginning, when I started, I thought we were in finance, you see. So, there were the nice people on one side, and on the other side, there were the [ __ ] who just wanted to take your money and rip you off, you see. But no, it's much more subtle than that. The truth is that there are many people who talk to you like friends, who make you believe there's a connection because they pretend to build a close relationship for business. And the day they have to choose between you and their money, you know very well what they'll choose. They choose money. And you have to experience it to understand that there are people who make you believe too much that they are friends with you, when in fact they don't care about you at all. And that's okay. It's just that now I know it, and there are many ill-intentioned people. And the way I've found to protect myself from that is that I say no to a lot of people. So, I reply to very few people. I disappoint a lot of people, it's not a big deal. And especially now, I only work with people with whom I get along really well on a human level, you see, with whom I could go to a restaurant and, like, we laugh, we have a good time. We don't have to be best friends because it's impossible, you see, to work only with your friends. But, uh, even if it could make me money, it could make me, it could make me, I'll get there, it could make me lose money because I miss opportunities. I prefer that rather than working with people who don't have the same values as me, who aren't aligned. In finance, there are many people who only think about money above their relationships, above bringing value, above many things. And it's okay to make money. It's okay to make a lot of money. I think it's better if you can do it by helping people in one way or another. Uh, but I believe that in this entrepreneurial journey, we have the opportunity to decide who we work with, and, well, it's stupid to just lock yourself into a job like that.
classically where you are forced to endure certain colleagues, certain partners, or whatever. So I only work with people who are aligned with the crypto research team, with Paul, and so on. We have a blast because we are all friends, because we share the same values, we share certain things, and it's so much more pleasant, and you also go much further with shared values because it doesn't hold the whole thing back. You can do an enormous amount in a year if you stay focused, but you have to stay really focused. Like, not, I'm launching 10 things, you see. And most of the time, the people I talk to are too scattered but don't see it, you see? Like, we're going to create content, we're going to focus on content. You tell yourself, okay, I'm really focused on what I'm doing. Except there are two ways to create content. Either you give yourself a year to launch content on TikTok, Instagram, Twitter, YouTube, Substack, Reddit, LinkedIn, and you try to develop all these platforms. Or you tell yourself, I'm taking one platform and I'm working on it. And we can do an enormous amount in a year if we stay really focused. There are very beautiful things that can be accomplished, but if we scatter ourselves, we advance absolutely not. And the worst is when you think you're advancing but in fact you're focused on too many different things and you have no evolution from that.
Next, well, I'm going to move on because this subject is a bit long. Sorry about that. I hope you like these little entrepreneurial reflections. I told you that today was a bit more chill. The grass always looks greener elsewhere. You talk to people who earn more, who very quickly give their turnover figures. It's a red flag, by the way, we'll talk about it later. who say they've found the right thing, they're in such and such a field of such and such a subject, and they're making a lot of cash. And you'll say to yourself, "Yeah, but why am I struggling so much?" Like, last time, I was talking to some guys who were making Telegram games at the time, and they told me, "Yeah, we're making 300k a month and all that." Well, first of all, that's probably very false. There's probably a huge marketing budget, but when you see it, you say, "Damn, I'm really not making 300k a month." And the grass always looks greener elsewhere, but in reality, every business has its struggles, nobody has a perfect life. The most important thing is not specifically the field, the niche we're in, it's rather how good we become in a field. That's what really makes the difference. The field is a bit more of an illusion. If you are truly the best in a very precise field, you will have an impact.
Next, everything takes longer than we think. We live a bit in a world where everyone looks rich at 22 on the internet. They became, they started their business at 16 and they have 100 million in turnover at 22, they've already sold companies and all that. That's bullshit. Most of the time, it's absolute bullshit, or it's a one-in-a-million case, and on top of that, you don't know if it was structured healthily or if it was based on some shady stuff. Real success takes time, a lot of time. And that's okay. There's no such thing as being late, it doesn't exist. I'm late. What does that mean? I'm late compared to another guy my age that I've chosen. I'm late. Well, yeah, but most people will never reach the level in what I'm developing that I have now. So, I'm not late. There's no such thing as being late. You just have to set your own pace and not try to set absolutely random goals. Like, at 25, I want to have X euros, at 30, I want to be Y, at 35, I want to be Z. That's the best way to accomplish nothing at all. And above all, you have to build solid foundations, and easy money is very attractive but never lasts. Always check what you're signing. Don't take people at their word, read the contracts, don't believe people who tell you "Don't worry." And also, nobody knows our business better than ourselves. We'll get a lot of advice, and most of the time, it's good to listen to it, but most of the time, you shouldn't take it at face value, especially predictions. People who will say, "Your business won't work." People who will also say the opposite, "Your business will explode." Both are dangerous, and you shouldn't take them at face value because people don't know what you do during the day, and they base it on the vision they have of what you do, on expectations, and so on. Believe me, that's not at all the case.
And the types of people you meet, there are two profiles among the people you meet. There are people who talk a lot in this business world who will come up and say, "Hi, how are you?" "Yeah, I'm good." "Uh, yeah, we're doing 200,000 in turnover. We just launched our project 2 months ago. Uh, yeah, it's going super well. We did an ICO, we're trying to compete with Apple. I think in a year, we'll surpass them." "Okay, but slow down, man. Come on, what's your name again?" People talk a lot. There's that type of profile. Often there's this rush. There's also another type of profile. There are people who are much more evasive. "Yeah. What are you doing?" "Well, I'm developing a platform." And often these people are the ones it's best to connect with because they have absolutely nothing to prove, they work like crazy, and they don't necessarily have the time or the desire to explain what they do to strangers who won't bring them much, because they have a good understanding of their business. And I prefer to surround myself largely with them, and from experience. They are the people with whom it's most pleasant to work because they don't talk too much. Because often when people talk too much at the beginning, they are too business-oriented and generally talk more than they work. And it's tempting to get caught up in the siren song of people who tell you, "Yeah, we're going to compete with Amazon. We really have a better offer. An investor who was at Apple has come back to us." And then you might think, "Wow, okay, cool." No, really listen to the people who say, "Oh, I'm developing a platform." It's these people who really work and with whom you should surround yourself.
So there you have it, friends, for this podcast which ended up being much longer than I thought. We focused a lot more on the entrepreneurial side, the discussion side. It's also important, it's the principle of this type of podcast, to discuss, to have an exchange, especially when not much is happening in the market, or at least when things aren't necessarily something from which we can draw any lessons. I hope you enjoyed it. Take care of yourselves, these are a bit rough periods. It's better to go outside and pet some grass than to stay on a computer every day, looking at charts. See you next week. This was, take care of yourselves. Bye, friends.