Entrepreneur Expat
Welcome to Entrepreneur Expat! This is a podcast about living in Mexico, moving to Mexico, how to become a digital nomad, location independent businesses, global citizenship, global diversification, real estate, business and more.
Entrepreneur Expat
How The Trump H1B Visa Fee Changes Global Talent Migration | Global Business News
Moving Abroad Resources:
👉 Moving Abroad Relocation Roadmap Guidebook that walks you through the five phases of moving abroad ($27): https://www.entrepreneurexpat.com/relocate
👉 Moving Abroad Relocation Blueprint Course which offers step by step guidance on everything from choosing the right country to immigration to taxes and everything in between: https://www.entrepreneurexpat.com/blueprint
👉 Want us to handle the details of your move abroad? Apply for our white-glove relocation services here: https://www.entrepreneurexpat.com/consult
👉 Free Moving to Mexico Guide: https://www.entrepreneurexpat.com/mexico
👉 Free Moving Abroad Checklist: https://www.entrepreneurexpat.com/abroad
Remote Work and Online Income Resources:
👉 Expat Income Accelerator course which shows you the multiple ways you can make money globally based on our 15+ years of experience in online business, investing internationally and living in multiple countries: https://www.entrepreneurexpat.com/income
👉 Get Your First High Paying Client Online Bootcamp which walks you through the first four foundational steps of creating and monetizing an online business based on 15+ years of experience in online business: https://www.entrepreneurexpat.com/firstclient-yt
👉 YouTube Mastery Workshop which shows you how we’ve built two YouTube channels that bring clients and passive income from digital course sales (including turning Entrepreneur Expat into a six-figure business in six months): https://www.YouTubeMasteryWorkshop.com
👉LinkedIn Mastery Workshop which shows you how to use LinkedIn to find remote work, clients and connect with recruiters based on Justin’s experience building a six-figure business and finding remote work on LinkedIn: https://www.entrepreneurexpat.com/linkedin
👉 Free Make Money From Anywhere Guide: https://www.entrepreneurexpat.com/money-guide
Trump's new a hundred thousand dollars fee for H one B Visa applicants. Is supposed to give Americans more jobs. It's supposed to bring back the work to the us. That's what they're saying. Anyway, in this video, we're gonna talk about why. The reality is that might not actually be the case, and we're gonna show you some of the economic problems that this bill is actually going to introduce, both in the US and all around the world.
Amanda Abella:Welcome to Entrepreneur Expat. This is Justin. I'm Amanda, and on this channel we talk all about doing business internationally. How to diversify yourself or your assets globally. How to make money from anywhere in the world and so much more. So if that's something that you're interested in, make sure to subscribe and hit the notification bell. So you don't want me to say single video we have coming out on this channel. So you can see we finally got our set set up. So. We are on a roll with bringing you content every single week. We've got emails, we've got messages, we've got Instagram dms coming in every single day. We're trying to do our best to answer all of them. So you're definitely gonna wanna make sure to subscribe and hit that notification bell. And for those of you who have over a million in liquid assets or more, we can help you relocate to another country. We can help you find investment opportunities in other countries. For example, we're in Mexico right now, which is. Booming and all you need to do is apply to work with ESCO to entrepreneur expat.com/consult. And if you don't have a million dollars in net worth yet, do not worry. We have a bunch of resources for you as well, which you can find in the description below. It'll help you with anything from relocating yourself and finding the best countries for you to making enough money online to be able to be approved for visas all over the world.
Speaker:All right. Well, for those of you that maybe haven't heard the news or haven't been following the news too much, believe me, we try not to get too involved in US news and politics and everything else just for our own sanity, but everybody, everybody, everybody. Amanda, is talking about this H one B Visa bill that just passed. Employers are gonna need to pay a hundred thousand dollars for every single new applicant that they have. If you don't know too much about the H one B Visa, essentially what it does is it allows US-based companies to hire foreigners. A lot of the time they're from countries like India that have a lot of very sophisticated, uh, tech knowledge and things like that, and they'll hire those workers. They'll come to the us. The company will sponsor their visa. So there was a. Relatively small in pre-bill, new bill times a fee that the employer would have to pay in order to be able to sponsor that new employee's visa. And then that employee would come from India or China or Pakistan or wherever else to the US to live in the us and that was that. Now what's, what's kind of changed now as of this bill?
Speaker 2:So from my understanding, the bill was being presented as, you know, Trump's kind of America first. Kind of battle cry. It sounds
Speaker:really good, right? Yeah, it sounds really good. We're gonna bring the jobs back. We're focusing on Americans. Let's, let's bring back the white collar work to the us.
Speaker 2:The problem is that that's not exactly that simple in terms of how it's going to work out. It's definitely going to have an effect on the US economy and Donald Trump, and not just Donald Trump, but whoever's running the US government. All of them seem to keep forgetting that the world has changed in some really major ways. So I think America first, like you said, it sounds really great on paper, but when you take into account the fact that we're in a multipolar world, China is nipping at the US' feet when it comes to technology. Uh, companies in the United States are gonna find a way to circumvent this visa anyway. Of course, it, it probably is not what the American people, uh, might be expecting, and that's kind of what we wanted to cover. In this episode today because since we follow what goes on in different countries and we follow economies in different countries and we just see things and how they're shifting and moving all around the world and changing, we thought it was important to, to talk about it and then bring it up.
Speaker:Absolutely, and, and I'll preface what we're about to go into with the fact that like, this is not just our opinion or. Something that we looked up right before making this video. We've been seeing the trends actively happen here in Mexico with outsourcing and, and nearshoring and things like that, and we're gonna talk a little bit about how that's going to occur even more and more. So as an example, we lived for about three years in Guadalajara, Mexico, which is about an hour and a half from where we currently are in the Lake Al area. We got a cool lake view. Behind us. It's, it's a little bit more calm here than in Guadalajara where kind of left the hustle and bustle of the city. But when we were in the city, we saw a lot of international people, people coming in from everywhere, and especially India. So companies, both Mexican and also foreign companies will be hiring these Indian workers. We'd see them everywhere. I mean, I. I, I bought things off, an Indian couple on Facebook marketplace and you see'em at, there's a lot of Indian restaurants now that are, uh, popping up all around Guadalajara, including our neighborhood,
Speaker 2:one of one of the immigration attorneys we work with for ourselves and also for our clients. Had mentioned to me, Hey, some of the visas that we're like, that they're processing the most is actually from India. So what does this mean? What is actually going on? I think the first thing that comes to mind is like, these jobs are not going to go to Americans. You just did a video on how companies can actually circumvent the whole visa by, for example, either hiring people remotely or for example, like nearshoring for tech jobs. Absolutely. So, so they can hire people and bring them to Mexico, which is seems to be part of what, why would you wanna pay
Justin Keltner:double or triple the salary of somebody, or at least, I mean, double digit percent more just to be able to keep pace with the cost of living in the us. Then on top of it, pay all the, all the different government fees. Deal with all the red tape in the us. In some cases there, there were visas, H one B Visas, even before this new bill that were processing for years, literally multiple years before they finally had somebody that's a new employee approved to come into that company and get their visa in the us.
Speaker 3:Yeah,
Speaker:you can't run a business like that. There's too much unpredictability as a business owner. I mean, we've both been business owners for decades, independently. And you can't run a business where the government is constantly giving you all of this red tape. It just does not work.
Speaker 2:Yeah. And I think, um, one of the things I wanted to ask you, because you spent some time in tech, you've also managed, um, you know, developers and tech companies from multiple countries at one point. You know, I think one of the things, or, or one of the arguments against this policy with the H one B Visa is that the talent that is needed. For this type of work just does not exist in the United States, or it's too expensive for the company. So I'd like to hear your opinion on that since you spent some time in that space.
Speaker:It's a little of both really. So what we've seen is that when you look at the programs like the ones that were, uh, spearheaded by Bill Gates and Microsoft, they were, instead of training Americans, you know, when, when we were building the internet and when, when computers were, were really coming into play in in the last. A couple decades here and now getting into more advanced technologies like ai, a lot of the training has been done overseas because companies thought that they could just outsource those jobs and hire really cheap talent overseas instead of really training their citizenry, right? Like their own, their own people on those skills. And it's kind of this whole like penny wise and pound foolish thing. You're gonna make an investment in all those other countries, a substantial investment. Because you want to save money in the short term, but in the long term, it's causing a lack of education in a lot of those areas. In the US now, there's tons of great, uh, engineers and developers and, and all sorts of things in the United States, but there's a number one, there's a different cultural mindset, like how we re Americans unfortunately relate to work. When you compare an American employee with an Indian employee. I have to say it like the Indian employee tends to work harder and put in more effort and put in more time. Americans are becoming fucking entitled, right? They don't wanna work. They don't wanna work hard. They don't have the same kinds of values. They like to just. Spend money on things like that don't really matter. The Indians that I knew when I was in the Bay Area growing up, I mean, they, they would constantly save money. They, they would be saving money for their kids' education. They'd be sending money back home. They were very smart about their finances and they were not entitled. They came here, they, they worked, uh, they came to the us. They worked really, really hard, like a lot of the. The Latinos that are in the United States that immigrated there legally as well, right? I mean, either way, but, but like they're extremely hard workers and the US has lost a lot of that culture. They're lacking a lot of that training in engineering that you have in places like China. Did you know that? So now even if you look at like primary school, right? Like, uh, like K through 12 and all that, we're still messing around fighting about bullshit like common core math, which does not work. We're in the United States. We're tea. Yeah. In the US we're teaching, uh, in the US we're teaching identity politics. We're basically touting things like transgenderism to children, and we're not focusing on like the basics. What do they need to know in China? They're not doing any of that shit. Do you know what they're teaching in China now? By the time you're five, six years old, you're starting to get an education in China about ai. It's mandatory in all Chinese schools now where we're messing around with a bunch of BS at best. At worst, it's like the identity politics, the stuff that has nothing to do with school. That's people shoving their political agenda down children's throats, and that's, that's awful. Then best case scenario, what you have is you have these concepts that are all theoretical. Like when I, I took a couple years of community college and I, I took many classes around development and things like that, even though I'd been studying that on my own for years before. None of this stuff is relevant. I mean, they, they have a hard time even putting things in these classes that you still use at all in the workplace anymore. People are coming outta school. They're completely uneducated. They know a ton about, uh, political science allegedly, which they actually don't'cause they're just getting brainwashed. But the idea is, okay, they've got this poli sci background. They know about history, they know about liberal arts. No offense. I know you have a liberal arts degree. Hey,
Speaker 2:liberal arts does help the business. Okay. It does. You just have to know how to work it. But most, to your point, most people who get liberal arts degrees don't know how to work it. Yeah.
Speaker:But even when you look at some of the engineering programs, even some of the, the top engineering programs. They don't focus on very much of what actually is relevant in the workplace today. Versus places like China, places like India, they're, they're teaching ai, they're teaching things that are super relevant. So you have lack of training that's embedded into the system. I mean, the US ranks not number one, not number two, like maybe, I think it's in the top 30 or 40 in terms of education systems in the world. When it's one of the richest countries, it doesn't make any sense.
Speaker 3:Right.
Speaker:How bad the education in the US is compared to other countries. So you've got lack of education, lack of specialized knowledge, the specialized training programs that have been applied to all these other countries instead of ours because of large corporations like Microsoft that were trying to outsource all that in the, in the nineties and the early two thousands. And then you have culture, and then on top of that, the Americans want to get a lot more money. Understandably so.'cause they wanna live to a certain standard of living that they're accustomed to. So you're paying a hundred and twenty, a hundred thirty, a hundred fifty,$160,000 for a decent developer. Now if you're in the Bay Area or Austin or New York. So why would you do that when you could pay somebody 30 or$40,000 less to actually come to America? But now with this bill, what's happening is you gotta pay that large salary still. You gotta, you gotta make sure that they're, they're able to. To adjust to the US and pay for their living expenses there, even if the Indians and the Chinese and other people that are coming are willing to sacrifice a little bit of that quality of life to come to America. But now you've got that entire, uh, a hundred thousand dollars basically fee on top of that, which is gonna discourage a lot of companies. And more importantly, a lot of these foreigners are not really wanting to come to the US anymore anyway. So what that's doing is you're not just affecting the corporations. Well, look,
Speaker 2:Canada, Canada has a lot of, uh, people from India who are tech workers, and it's all over Instagram. How many of them are starting to go back?
Speaker:Mm-hmm. To India? That's very common. Yeah. Or other
Speaker 2:people from Asia who are starting to leave Canada. I know we're talking about the United States, but it happens to be that this has been happening in Canada, that they're starting to go back to Asia. They're like, this doesn't make any sense anymore. Because it doesn't, because in those countries, um, to your point, I, I see this going in so many different directions. So let me, let me try and hone it in so I don't go on tangents, but I guess I hear this and I hear this Visa bill, and I'm like, does the, it it, to me, it sounds like the United States still thinking like it's the top dog. It's number one of everything in the world of the we are the greatest. Of course, number one, of course they're gonna hire Americans.'cause Americans are number one. Or of course people from other countries are gonna wanna come to the United States for these jobs because we're number one and the companies are just gonna have to deal with it. Is that, do you think that's kind of like the mentality. Absolute.
Speaker:That's absolutely the mentality. Yeah. And, and I don't, I'm not involved in like politics in the us I don't, I don't have insider information here. Right. I mean, this is from my research, this is from my experience and also from what I've seen in places like Mexico with people getting hired here from all over the world. But what I do know is that this, this idea that we're like now still the dominant superpower and there's nobody else out there, uh, I think it's using. Second grade macroeconomic theory on the behalf of the administration and the, and the government to try to bring forth policies. I, I don't know if, if this is, if this is just incompetence, I don't know if it's ego that, that, uh, is, is just not guided by like actual truth or if it's something a lot reality of what's reality or if it's something a lot more sinister, I couldn't tell you. Right. I'm not here to. To, to make opinions about, about that because I don't know. But what I do know is we're in a multipolar universe. A multipolar Well,
Speaker 2:that's another conversation. That's another
Speaker:conversation. But we're in a multipolar world, right? We're, we're in a multipolar earth here. And so you, you don't just have the United States being the superpower like it was before. China's got a booming economy and a strong military. India's growing. All these other countries are growing. Mexico's economy is growing. It's got one of the fastest growing middle classes right now in the world. So it, it's not just this like one trick pony where the United States can just bully everybody into submission anymore. It's not that simple.
Speaker 2:So is the idea of like, okay, we're gonna put this fee on the Visa, and I guess we're just like waxing poetic and, and making assumptions here. If the damage was done right.'cause a lot of people are saying, oh, well those jobs never should have gone overseas. The training never should have gone overseas. Okay. But they did it.
Speaker:Yeah. It doesn't, that doesn't make a difference today. They, today
Speaker 2:they did it. Right. Okay. They did it and they changed the entire world. So how is putting a, um, a hundred dollars fee on a Visa, a hundred thousand, a hundred thousand dollars fee on a Visa supposed to make up for the last 20, 30 years? Of other countries getting trained up in these skills while Americans were not. Like, it just doesn't seem to make a whole lot of sense to me, like kind of what the logic there would be
Speaker:and, and I don't quite understand the logic either. There's a lot of ways to like slice this, right? So on one hand, if you look at just the political ideology, it sounds really good to say, yeah, America first, we're bringing jobs back and who knows, like maybe some jobs. We'll come back to America, I mean, to the United States, right? But you have to look at the unintended consequences of this. And the unintended consequences is that instead of the majority of those companies paying that fee, they're gonna start outsourcing. Where are they gonna start outsourcing? Well, they're gonna go to India. They're, they're, they've already proven that you can outsource jobs there. They, why would they need the Indians to come to the US and work in an office when everything can be done remotely? And if they have issues where they need them to be on the same time zone and they're not as productive if they're, if they're working US time from India or Bangladesh or Pakistan, of course it's hard to work. Nights I've had to do it when I was traveling in Europe and the Middle East and, and other places where I had clients here. I had to do meetings, I had to do sales calls. In US time zones, it's really difficult. So what's the next best thing? Well, I had a whole other video that I, where I talked about this in depth, but they're gonna bring those jobs to places like Mexico. There's US companies right now that are starting in, in companies from all over the world, even outside of Mexico. That are starting subsidiaries in Mexico and they're hiring Mexicans. Yes. But they're also hiring people from India and China and all these other places. And then they're coming here, which is why
Speaker 2:there's so many Asians moving to Mexico. Yep. Which a lot of people we're about to start getting
Speaker:some really good pad Hai, I think. I hope
Speaker 2:finally something Asian food in Mexico finally. Um, but to your watch the
Speaker:commenters go off on that one.
Speaker 2:Well, anybody who's been in Latin America knows Latin America does not do Asian food well. Okay. So we're hoping'cause. We started seeing it in Guadalajara. We see Asian markets starting to pop up all over the place in Guadalajara. We see Indian restaurants who were, that were starting to pop up all over the place in Guadalajara. So what you're saying is that these American companies, instead of paying for this visa, they're gonna circumvent it by, for example, starting subsidiaries in Mexico and then bringing the people from from Asia to Mexico. Yeah. Or, or just hiring them there, but, but now
Speaker:that. Now that the co you know, the, the economy is stable here in Mexico, it's so much easier to get even a foreigner that's not Mexican, a visa here in Mexico than it is even pre this bill. To get a foreigner, a visa in the United States through H one B, that to a lot of companies, it's just gonna be a no-brainer.
Speaker 2:And then the other thing that I was thinking is because we do live in more of a multipolar world right now, which I guess the US government. I mean, I guess it doesn't go with the brand of the US government. There's gotta be people in the US government who actually know that. But of course they're not gonna say that to the general public because yeah, it would probably cause chaos and
Speaker:I'll go off on a limb here. Yeah. To, to piggyback off of what you just said, which is I think that as much as this is maybe political, uh, posturing or wanting to look good for like the, the. Policies that this administration is championing. I think as much as that, it's probably in part to show people that look at us, the government's doing something to protect your jobs. Because to your point, Amanda, if they don't do things like that, then what Americans are gonna start to do as they've already been doing, and this is why many of them are moving here. Leave. Well,
Speaker 3:yeah, they're,
Speaker:they're, they're gonna lose hope and then that's gonna cause'em to leave. Exactly.
Speaker 3:So
Speaker:they're losing hope because I mean, I've actually been talking to a few people on, on LinkedIn as well that have reached out to me that are like looking for jobs and things like that, and I'm, I'm sharing their information with recruiters that I'm connected to and whatnot. But there's people out there that I know that, that are in the US that are amazing software engineers and they're unemployed right now. You think those people randomly are just gonna get a job now because there's this a hundred thousand dollars fine. No. Those jobs are, it's already done. And got the, the, the companies can't even afford to pay them.
Speaker 3:Yeah. Because
Speaker:the cost of doing business in the US is so high. The economy's bad. with inflation, With everything else that's going on economically. It's hard to justify now paying all those people, and they've already been, I mean, between ai, between outsourcing, between all these remote work solutions, they've already been on this path, but this is just like sort of the final nail in the coffin.
Speaker 2:And then there's this other piece of the puzzle, which of course is administration's not going to talk about, but there are some very smart geopolitical experts who've talked about. Which is, hey, you know, if you don't have that talent in the United States, then you know, the United States is known for technology and innovation, and obviously these visas affected that sector more than anybody else. It was really for that sector, um, this visa. But if you're not getting that talent, okay, well what if that talent now starts to go to China because China's already nipping at the heels of the United States. Of course, when it comes to technology. And innovation. So while the United States held the, you know, number one for techno and still does for technology and innovation in the world, China's not that far behind
Speaker 3:absolutely. In
Speaker 2:that regard. So now basically you've made it more difficult to hire the talent that is necessary to continue. That innovation and continue the growth of that sector? Well now, I mean, if I was China, I'm not saying I am China, but if I was China, I'd be like, okay, start coming over here. Then
Speaker:of course, you know, that's, they, that's what you would
Speaker 2:do.
Speaker:Yeah. There's, there's a ton of countries now attracting foreigners. I mean, you look at places like Singapore, for example, a ton of foreign talent that are from Asia and from everywhere else. This is causing, in a big way, a lot of. A lot of brain drain too, right? Yeah. Because again, you, you look at the, the macroeconomic principles at play here. The fact that they put essentially, so let me use an example. It's let take a look at the tariffs. Are the tariffs making goods cheaper for Americans? No. They're making them more expensive.
Speaker 3:Yeah.
Speaker:The people that are actually paying the burden of that tax are the. Taxpayers and the country at large, it's not just, oh, the company's gonna pay it. Big, bad, big corporation. They're gonna have no, it's affecting the everything globally because there's, there's no more like isolation anymore. There's no more like, Hey, the US is here and, and nothing that the US does or nothing that other countries do are gonna affect the us. Right.
Speaker 3:It's not like they anymore, the us Yeah.
Speaker:The US has a policy. They institute this fine, they think, you know, short term thinking. Again, this is what's gotten us into so much trouble in the United States, but they're like, oh yeah, it's just gonna bring the jobs back. Maybe a few of them. It's just like. So it's like the tariffs, right? The tariffs really just affect people. Those individuals that make the cost of goods go up, they affect companies, they hurt them, and then what actually ends up happening? Well, nothing positive. This is the same exact thing. Or another example would be a place like McDonald's, right? That's mandated to have a$25 minimum wage in a place like California, right? They're not paying more people now,$25 an hour. They're paying the very few people. They absolutely have to keep there. And then half the jobs are going to robots. They're automating it. There's machines now between McDonald's and other places that are doing the cooking. They have the automated kiosks.
Speaker 2:Right. Because at some point it's not, it's not
Speaker:making, it's not working.
Speaker 2:Because at some point, at some point, it's all a math problem. Yep. At the end of the day, and if the math isn't math, then you have to do something to make the math. Math. It's the same thing that, for example, we see in European countries now. With the United Kingdom now wanting to tax everybody of the millionaires on their worldwide assets. Okay, well what, even if they're not living in the uk Yeah. Even if the A, even if they're not living in the uk. So what is the what, what, what ends up happening? Because it's common sense. It's just a business decision at that point. Well, all those people start to leave the uk So what you're saying and,'cause you know, we see a lot of really short term stupid decisions coming outta Europe too, but that's a, a video for, for another time, but at, at some point, right? It's just the math needs to math. And if the math is not math, well these people are smart. They're just gonna go find other options. The people running these companies, they're just not, they're not gonna just take it the same way that the, you know, millionaires in the UK aren't just taking it and they're all leaving in droves because that's what smart, wealthy people do.
Speaker:Of course. And this does bring up something a little bit more insidious, which is the people that are for some reason deciding to stay and just saying, well, maybe this policy will make our lives better. Maybe we'll get our jobs back. What they're not realizing is. It's sort of like this, this whole like holding a carrot in front of you thing, the government saying, Hey, look at this thing we're doing. Meanwhile, there's all this craziness happening beneath the surface where borders are gonna start to get closed. That's what we're seeing. Travel's gonna become harder. It's already becoming harder for Americans to open bank accounts overseas in different countries to get visas. Even in a place like Mexico, the residency income requirements have like doubled and tripled from depending on the year you're looking from. But just over the last several years, they've gone up like crazy. I remember when I applied. For my Mexican residency, they were only asking for around 2000 or$3,000 a month. Now it's almost up to 5K just for temporary residents, and it's gonna go up again by a few percent, maybe 10%, maybe more in January when this, this new year comes.
Speaker 2:And we're seeing many countries doing similar things. Yeah. A lot of
Speaker:countries are because they realize their economies are growing. They don't need that many foreigners. They especially don't need Americans because there's so many tax complications that come with Americans and reporting requirements to the government and all these other things. They don't wanna open bank accounts for them. They don't want to have Americans, let's say, just coming into their country and changing their culture. Right? That's one of the reasons you could argue that places like Asia don't allow citizenship for foreigners in almost all cases, right? They'll grant you temporary or sometimes permanent residence, but they won't give you, uh, they won't give you citizenship in Asia in a lot of places in the Middle East as well. But back to my original point, which is while little things like this are happening to show you that, oh, maybe it's gonna get better in the next couple years, maybe you're gonna get your jobs back. All of these other countries now, and this, this, you could argue would be a reason for them to be doing it, is, is to just sort of keep people pacified.
Speaker 3:Yeah.
Speaker:So, hey, we're gonna give you this little thing. By the way, the dollar is weakening. The peso is getting stronger every single day compared to the dollar. Now it's at like 18.3. Yeah. Pesos per dollar, is it 21? Right. When AMLO was finishing his term, uh, there's, there's restrictions for immigration. Now the US is pushing things like cbdc. There's other countries obviously doing this as well, but that digital id, they're trying to get it, get you all surveilled and everything into the system and it's like,
Speaker 3:yeah,
Speaker:okay. Uh, is this gonna make life better for the average American? Worse and long term. And not only is it gonna get worse, but it's this like boiling, you know, boiling frog thing where you're only really able to feel the heat of the water around you when it's too late.
Speaker 2:Well, I think a lot of Americans are feeling the heat with the cost of, they're starting to,
Speaker:but not enough to actually jump and move overseas. Yeah. The ones, even the ones that can't somehow. There's a lot of them that are still staying. And I'm curious why, like, why are you guys still staying in the us? Well,
Speaker 2:there's emotional things. There's family, there's connections, there's, you know, loose end, but at least
Speaker:getting a second passport, at least getting a second residency, at least getting a second bank account somewhere outside. There's ones
Speaker 3:who do that.
Speaker:They're starting to, but not all of them. There's smart
Speaker 3:ones do that.
Speaker:Yeah, it's, it's, it's only gonna get worse and it's gonna get better eventually. I, I do think so. I think maybe in 20, 30 years the US might start to get better. I don't know that. But it's gonna get a lot worse before it gets better. And if you're not ready to ride that wave, if you're not ultra, ultra wealthy and you just like putting up with, you know, in San Francisco, people pooping on the streets, if you enjoy that, you know, and you really wanna stay in the Bay Area, like, okay, more power to you. But the, the situation in the US is getting worse and worse. The situation in Canada is getting worse and worse. I just think things like this are designed to distract people from what's really happening and from their lowering, uh, now the, the, the diminishing ability that the average American has to be able to get a second passport, to be able to get a second residency. Even some of the wealthy clients that we work with, they're realizing we can't retire on two or$3 million in the US anywhere decent. Yeah. But we definitely can in Mexico still that is possible. And they're taking action and they're, they're finally starting to. To come here more and more.
Speaker 2:And then they come to Mexico before it's too late and then they come to Mexico, get the immigration done, you know? So they have that residency in their back, in their back pocket. Yep. Pocket. Because Mexico is one of the countries that does allow you to do that. There's a couple others, but Mexico is one of the most well-known ones. Um, and then they come to Mexico and what's the first thing they start asking us? We just had clients here and they're like, oh my gosh, the growth here is crazy. Yeah. They wanna buy real estate, they wanna invest, they wanna buy real estate. They wanna invest because they see how Mexico is having a growth economy. In comparison to what's going on, um, in the United States. And the final point,'cause you brought up, uh, you know, Asia and the Middle East, and I don't know if a lot of Americans know this, right? Is the Middle East is also pumping a lot of money into tech and finance, so maybe Absolutely.
Speaker:The, yeah, the Middle East is, is. Uh, Qatar and Saudi Arabia and the UAE, they're, they're putting tons of money, tons of technology. Tons. They're turning tons. Yeah. These deserts into data centers.
Speaker 2:Yeah, that's, I mean, so now what's gonna happen? They're
Speaker:planting data centers everywhere, so
Speaker 2:now the talent, so then they could do a play as well in the Middle East and be like, Hey, talent, and it just got a lot harder for you to go to the United States. Why don't you start coming over here, over the Gulf States? And they already
Speaker:are. They're making it easy for people to start businesses there.
Speaker 2:Yeah. So basically what you're saying is like your theory of this whole thing is like it's a giant distraction to keep Americans pacified, basically.
Speaker:I don't know what Trump's thinking, right? I, I don't know what Trump's thinking. I don't know what the administration's trying to do. I genuinely believe there's a chance. Again, and this is because I'm, I, you know, I'm, I'm a little bit of a, an old soul perhaps. Like maybe they're trying to do the right thing and maybe it's guided by genuinely trying to help the American people. I think that's a possibility. Do I think that's likely? I don't know. It's, it's, it's like 50 50 maybe.
Speaker 3:Yeah.
Speaker:So maybe there's a, there's a part there that actually is genuinely trying to do something to help the economy for whatever reason. That may or may not also be politically motivated, but that's okay. Like maybe there's something there where they're like, we wanna, we, we wanna help people. We think this will help people. That doesn't mean that the math is good math.
Speaker 3:Yeah. And
Speaker:that's what's really important in all this. Is it actually gonna work? Does it follow us on macroeconomic policy? And I don't see the tariffs working. I don't think this is going to work.
Speaker 2:Well. They've, they've, um, what's the word? They've extended the tariffs on China like a bunch of times. The deadlines by now. The deadlines and all that, because China's playing ball.
Speaker:Well, they're already, I mean, now it's already cheaper for us to buy things, a lot of electronics to buy them in Mexico, shipped directly from China than it is. To buy them in the US
Speaker 3:because of the tariffs,'cause of all the
Speaker:tariff, the tariffs, and the speculation about the tariffs, which is significantly increasing the, the cost of all of these different parts throughout the supply chain.
Speaker 2:Yeah. And for those of you who don't know, like whenever we would go to the United States, it was known that technology, it was cheaper to buy tech things in the United States than Mexico. Mm-hmm. By a lot. By a lot. And now because of the tariffs, we're starting to see the reverse on on some things. So that's an interesting thing that's happening. As well. Yeah. The tariffs haven't seemed to work out the way that, that he wanted them to. But again, it just goes back to that idea of, you know, this may not be sound economic policy for the world that we're living in right now.
Speaker:And that seems to be, I don't, I don't, it is, I think, I think think it's either, I think it's either that the people that are in charge in the US genuinely still somehow believe that we're living in that unipolar world and they're acting based on that. Assuming that they are taking the interests of the US population into account, which is arguable, right? But let's give them the benefit of the doubt there and say that that's option one, which is that they're genuinely taking that into account, but they're operating from a misguided point of view that may have, may have been true 20 or 30 or 40 years ago, but isn't true today. And then option two. Is that either it's a deflection and or what they're doing is they're trying to keep the US public believing that we're living in that unipolar world and that America is still the best, but we're not, and that's why this makes sense. Right?
Speaker 3:Right. That's
Speaker:why otherwise there's no way for them to justify that. Does that make sense? So, so it's almost like a little bit of reverse psychology, oh, we're gonna do this thing because it's gonna bring back jobs, and if you believe that it's gonna bring back jobs. That means that your level of thinking around macroeconomics as it relates to the US is that of that unipolar, we're the best, we're on top, blah, blah, blah. And so it keeps them in the narrative of believing that themselves. That's another option. And I think those are the only two real sides of that coin that make any sense personally. Yeah.
Speaker 2:Well thank you.'cause I really wanted your opinion on this. You know, you having, you know, run businesses from multiple countries, you having managed tech teams. From multiple countries, being from the Bay Area, which seems to be the epicenter, um, of this whole thing. And, and you've been seeing this stuff your, your entire life. And also just what we've been seeing just from living and traveling in other countries, like, oh, hold on. Wait a second. The, this math is not gonna work out probably the way that you think, uh, it's going to work out. And for those of you who are interested. Justin did do another video where he actually taught companies how to circumvent that visa by hiring people through Mexico, which we're probably going to see a lot more companies doing. So thank you guys so much for giving us. Your time today. Many of you have been asking about these Visa policies and things like this, so we just wanted to bring this conversation to you. Once again, if you have over a million in liquid net worth, we can help you with relocation, investment opportunities, real estate, you name it, just go to entrepreneur expat.com/consult. That's also for those of you who have businesses that are over seven figures, and you may need to figure out how to move abroad. Um, but you gotta figure out the issue. You gotta figure out the business first in order to be able to more easily. Move abroad, whether it's selling it or putting management in place or moving it online, you guys can use that link as well. And if you do not meet that, uh, requirement, don't worry. We have a ton of resources for you. Make sure to subscribe to this YouTube channel because all the content here is free. We try and bring as much educational stuff to you guys as possible. Um, in addition to that, we have a lot of resources in the description. Anywhere from free guides. To courses that you can take, courses that will help you move to the country that makes the most sense for you, because Mexico makes sense for us right now. Doesn't mean it makes sense for you, the viewer, based on your situation all the way to, you know, how do you make more money online so you can qualify for visas all over the world. Thank you so much for giving us your time today, and we'll catch you on the next one.