As a Journalist, I’ve seen countless conversations about global politics and economics, but the recent episode of Diary of a CEO added a new layer of compelling perspectives. Watching Steven Bartlett sit down with Scott Galloway, Konstantin Kisin, and Daniel Priestley felt less like a discussion and more like an urgent wake-up call. The topic? What the new Trump era means for UK business and politics—and let me tell you, their insights were as provocative as they were sobering.
From scathing critiques of Britain’s “butler economy” to calls for an entrepreneurial revolution, the panel didn’t pull punches. The UK, they argued, is at a crossroads, grappling with a post-Brexit identity crisis, stagnating business confidence, and a mass exodus of wealth. Meanwhile, America’s entrepreneurial engine roars on, fueled by Trump-era policies and a cultural dynamism that Britain seems to lack. Could the UK adapt some of Trump’s playbook to reignite its economy? Or will it double down on the status quo and fall further behind?
Here are the key takeaways that left me rethinking Britain’s place in a rapidly changing world.
“The UK needs an attitude shift—if we don’t encourage and retain entrepreneurs, the economy will stagnate.” These words from Konstantin Kisin on Diary of a CEO highlighted a critical issue facing Britain: its cultural and economic relationship with entrepreneurship. In a candid discussion alongside Scott Galloway and Daniel Priestley, Kisin and others painted a picture of a nation at a crossroads, unsure of its place in the global economy and grappling with outdated attitudes that could hinder progress.
Britain has long been a hub of creativity and innovation. London, in particular, is often hailed as a melting pot of finance, technology, and media—a city where great ideas can flourish. Yet recent statistics suggest this reputation is under threat. Daniel Priestley noted that thousands of millionaires left the UK last year, a 160% increase from the previous year. “That’s not just a statistic—it’s a signal,” Priestley argued. High taxes, rising living costs, and an unclear post-Brexit economic strategy are driving wealth and talent elsewhere.
“The value proposition for the UK has dropped through the floor,” Priestley added, pointing to the country’s high personal and corporate tax rates. He shared examples of people deliberately limiting their income to avoid punitive tax thresholds. “People would rather ask for a day off a week rather than risk going over the £50k tax threshold.”
The conversation also revealed a deeper issue: Britain’s struggle to define its role in a post-Brexit world. Priestley emphasized the need for a clear economic identity. Whether as a hub for innovation, a low-tax haven, or a bridge between the US and Europe, the UK must make decisive moves. “Cheap energy, competitive taxes, and a supportive entrepreneurial ecosystem are non-negotiable if we want to remain relevant,” he argued.
Priestley identified three potential models for the UK:
a) The Head Office of Europe: A hub for businesses looking to access European markets. b) The Back Office for the US: A breeding ground for startups and talent that American companies can acquire. c) A Tax Haven: A low-tax, low-regulation environment similar to Dubai or Singapore.
But as Priestley noted, “We haven’t chosen.” This indecision has left the UK in a state of limbo, with no coherent strategy to attract or retain entrepreneurs.
Kisin expanded on this, highlighting a cultural resistance to success. “British people often see wealthy individuals as parasites rather than creators of value,” he said. “If we don’t encourage and retain entrepreneurs, the economy will stagnate.” This attitude, he argued, not only undermines individual ambition but also deters foreign investment and innovation.
The panelists contrasted Britain’s challenges with the entrepreneurial culture of the United States. “In America, if you succeed, you scale,” Kisin explained. “You don’t stop at one restaurant—you open a second, a third, and create a chain.” Scott Galloway echoed this sentiment, noting that the US has five times as many entrepreneurs per capita as Europe and far greater access to venture capital.
However, Galloway didn’t hold back on his critique of the UK’s current trajectory. “The UK is a butler economy,” he said, describing a system reliant on servicing wealth created elsewhere. He warned that without organic wealth creation—fueled by innovation and entrepreneurship—the UK risks falling further behind.
So, what can Britain do to reverse this trend? The conversation pointed to several strategic priorities:
Reform Taxation: Priestley argued that punitive tax rates are a major barrier to growth. “Nobody wants to pay 60% of their income in taxes,” he said. Simplifying and reducing taxes could incentivize both individual entrepreneurs and larger businesses to stay.
Invest in Innovation: Cheap energy and strong investment in artificial intelligence (AI) were highlighted as key to future growth. “You can’t have an AI-driven economy with the most expensive energy in the world,” Priestley noted.
Shift the Narrative: Kisin emphasized the need for a cultural reset. “We need to stop demonizing success and start celebrating the people who create value.”
Define a Post-Brexit Strategy: The UK must decide whether it wants to compete as a tax haven, an innovation hub, or a European gateway. Clarity and decisiveness will be critical to attracting investment and talent.
The panelists agreed that time is of the essence. “The world doesn’t wait,” Kisin warned. “If we don’t make the UK a place where entrepreneurs want to be, they’ll go elsewhere—and they already are.”
Britain stands at a pivotal moment, with an opportunity to reinvent itself as a global leader in business and innovation. But doing so requires more than policy tweaks; it demands an attitude shift. As Kisin so aptly put it, “Entrepreneurs don’t just create wealth—they create jobs, ideas, and opportunities. Without them, the economy doesn’t just slow down—it stalls.”
It was also noted during the discussion that the UK’s energy prices are significantly higher than those in the United States, driven by the country’s commitment to Net Zero targets. This has led to economic challenges, including businesses struggling with high operational costs and reduced competitiveness globally. Critics argue that the current approach sacrifices economic prosperity for ideological goals, particularly as the UK contributes only 2% to global carbon emissions.
The high cost of energy has also impacted households, with pensioners and low-income families facing difficulties affording heating during winter. This has raised concerns about the social and economic implications of the energy strategy
As the discussion wrapped, we were left with more curiosity to know whether the Trump era is a net positive for the UK. The consensus? It’s complicated. Trump’s policies and rhetoric have undoubtedly influenced global conversations on economics, identity, and governance. For the UK, the challenge lies in extracting valuable lessons without succumbing to the polarizing tendencies that define Trump’s legacy.
In many ways, the Trump era is a mirror. It forces us to ask: What kind of country do we want to be? And are we willing to make the tough choices to get there?