You're Not Going to Get Rich Renting Out Your Time

The first part was about
How you're not going to get rich
You are not going to get rich renting out your time
You must own equity
A piece of the business
To gain your financial freedom

This is probably one of the absolute most important points
People seem to think that you can create wealth
And make money through work
And it's probably not going to work
There are many reasons for that
But the most basic is just that
Your inputs are very closely tied to your outputs
In almost any salaried job
Even at one that's paying a lot per hour
Like a lawyer, or a doctor
You're still putting in the hours
And every hour you get paid
So, what that means is
When you're sleeping, you're not earning
When you're retired, you're not earning
When you're on vacation, you're not earning
And you can't earn non-linearly

You are not going to get rich renting out your time
Renting out your time
Renting out your time
You are not going to get rich renting out your time
You must own equity
A piece of a business
You are not going to get rich renting out your time
Renting out your time
Renting out your time
You are not going to get rich renting out your time
You must own equity
To gain
Your financial freedom
Your financial freedom

If you look at even doctors who get rich
Like really rich
It's because they open a business
They open like a private practice
And that private practice builds a brand
Essentially you're working for somebody else
And that person is taking on the risk
And has the accountability
And the intellectual property
And the brand
So, they're just not gonna pay you enough
They're gonna pay you the bare minimum that they have to
To get you to do their job
And that can be a high bare minimum
But it's still not gonna be
True wealth where you're retired
You're not creating new things for society
You're just doing things over and over
You're essentially replaceable
Because you're now doing a set role
Most set roles can be taught
If they can be taught
Like in a school
Then eventually you're gonna be competing with someone
Who's got more recent knowledge
Who's been taught
And is coming in to replace you
You're much more likely to be doing a job
That can be eventually replaced by a robot
Or by AI

You are not going to get rich renting out your time
Renting out your time
Renting out your time
You are not going to get rich renting out your time
You must own equity
A piece of a business
You are not going to get rich renting out your time
Renting out your time
Renting out your time
You are not going to get rich renting out your time
You must own equity
To gain
Your financial freedom
Your financial freedom

You really just want a job, or a career
Or a profession
Where your input is don't match your outputs
Businesses that have high creativity and high leverage
Tend to be ones where
You could do an hour of work, and it can have a huge effect
Or you can do 1000 hours of work, and it can have no effect
One great engineer can for example create bitcoin
And create billions of dollars worth of value
And an engineer who is working on the wrong thing
Or not quite as good
Or just not as creative
Or thoughtful, or whatever
Can work for an entire a year
And every piece of code they ship ends up not getting used

You are not going to get rich renting out your time
Renting out your time
Renting out your time
You are not going to get rich renting out your time
You must own equity
A piece of a business
You are not going to get rich renting out your time
Renting out your time
Renting out your time
You are not going to get rich renting out your time
You must own equity
To gain
Your financial freedom
Your financial freedom
Your financial freedom
Your financial freedom

You want to look for things that are leveraged
And by leveraged I don't mean financial leveraged alone
Like Wall Street uses
And that has a bad name
I'm just talking about tools
We're using tools
Computer is a tool that software engineers use
If I'm a lumberjack with bulldozers
And automatic robot axes and saws
I'm gonna be using tools
And have more leverage than someone who is just using his bare hands
And trying to rip the trees out
By their roots
Tools and leverage are what create
This disconnection between inputs and outputs
Creativity, so the higher the creativity component of a profession
The more likely it is to have disconnected inputs and outputs
So I think that if you're looking at professions
Where your inputs and your outputs are highly connected
It's gonna very very very hard to create wealth
And make wealth for yourself in that process