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However, there is a real difference how much you have spent in labour vs how much you have spent in capital. Although time is arguably more valuable than capit
by mikekchar 7y ago
However, there is a real difference how much you have spent in labour vs how much you have spent in capital. Although time is arguably more valuable than capital as a human, capital is often harder to come by. Whenever I read "I did X with only $Y", I don't think it actually cost $Y when taking into account labour and other externalities. I think it cost $Y of capital and that is a viable thing to talk about. Even in startups you hear that someone gets $1 million in seed money and works for a year receiving almost no salary -- just enough for a bed in a closet and ramen 3x a day. It's basically the same thing.