Entrepreneur Timur Artyomov, co-founder of Euroset, in an interview with Forbes spoke about life in the UK, his experience of conflicts with law enforcement, and new investments. According to him, he misses Russia but considers its investment climate risky.
Life in Britain
Artyomov noted that he finds it "extremely simple and comfortable to work in the UK," although he also sees drawbacks. Among them, he cited the high cost of lawyers in divorces and the business rate — a tax which, in his opinion, is "essentially legalized racketeering." The entrepreneur also said that in England he feels safer than in the US, where, according to him, there is "absolutely rabid medicine."
"I miss Russia very much. I love Russia, Belarus, and Ukraine," he said.
Artyomov admitted that he is considering obtaining a British passport but is not sure he wants one.
Production and investments
Artyomov moved production of Uniwheel unicycles to Belarus because, according to him, the country is open to it, and President Alexander Lukashenko has declared Belarus a country of electric transport. He invested about €8 million in the Uniwheel project. The projected price of the unicycle is $400 plus VAT.
In biotechnology, Artyomov has invested in Viome, Retrotope, and MDSeq. He is confident that Viome will become a "unicorn" and be worth several billion dollars. According to him, all three projects help fight the coronavirus, although Retrotope requires human trials.
He called his investment in Moon Express an interesting experience, but now he is more interested in humanitarian projects. In the future, he plans to invest in IT platforms for modeling biological processes, educational platforms, and reform of the penitentiary system.
Advice and forecasts
To young entrepreneurs in Russia, Artyomov advises that in conflicts with law enforcement they should not be guided by ideals but should negotiate. He also stated that the current crisis is not comparable to the Great Depression but will cause many bankruptcies, and he believes that the pandemic will have a beneficial effect on civilization.
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