5 ms·

If you want wealth, stop renting out your time. Lean towards equity. You need to be able to make money even while sleeping.

by buf 6y ago

jacobush 6y ago
Would that make you the slave owner?
- ThomPete 6y ago
  If machines are slaves then yes.
  - phaemon 6y ago
    That would make sense if everything was produced entirely by machines, but it doesn't make any sense in the current real world.
    - ThomPete 6y ago
      Neither does it make sense to call people who work for you to provide for their families slaves.
      - phaemon 6y ago
        Then perhaps you should have made that comment rather than a nonsensical one about machines?
        ThomPete 6y ago
        Why? If you are making money when you sleep the chances that you are using machines to make money is quite large. I am doing that and I don't have any slaves working for me. If you can't see the slave analogy being what is nonsensical here then nothing I can say or do is going to convince you. So I guess by your definition you are either a slave or a slave owner. Oh well.
        phaemon 6y ago
        What on earth are you talking about? Do you know what is meant by"equity"? Are you following the context of this article? It seems like you're just spouting random phrases without a clue what we're discussing.
        ThomPete 6y ago
        I am commenting on a comment about slave owners. Yes, I know what is meant by equity and yes I understand the context. Not sure why you think snark is a relevant method here. But each to their own of course.
xvector 6y ago
How should one go about doing this?
- seemslegit 6y ago
  Step 1. Make sure everyone else don't do this or else equity will be worth less than wages and drive actual wages down. Step 2. Make sure you yourself are exceptional as far as step 1 is concerned. Step 3. Make money while asleep.
- m42 6y ago
  Naval podcast is pretty good: https://www.youtube.com/watch?v=jemPACNo1_I&list=PL5QAQBV5zCqVsMqk5UH-LVYuNmM4i6pgW https://www.youtube.com/watch?v=jemPACNo1_I&list=PL5QAQBV5zC...
- close04 6y ago
  You wouldn't really. Because the current projections assume most people will "rent their time" and a minority lean towards equity. It's like saying "everybody should buy second hand things to save money", ignoring the fact that the saving comes from many not buying second hand.
- mdorazio 6y ago
  Realistically, most people can't and/or shouldn't do this by building a business or working at a startup. Both of these are very risky and won't generally accomplish what I think the parent comment implies. Instead, the more reliable way is to invest as much of your income as you reasonably can in securities like stocks and bonds so that over time you are indeed making money doing nothing. Also, if your company offers stock options, opt for those if you think the company is going to do well in the future.
  - SolaceQuantum 6y ago
    How does the reasoning of buying stocks and bonds work over time given the current crisis has wiped out all the gains for many people made in the past several years utilizing this strategy, and before that was 2008 which did the same?
factsaresacred 6y ago
Nothing revelatory but it's the truth. Anybody seeking more freedom ought to attempt to build a system that generates revenue without your presence being required. Investing, swing trading and software are the most straightforward paths. Software particularly. A couple thousand hours of sweat, toil and despair and you might just create a perpetual cashflow generating machine.
- buran77 6y ago
  > Investing, swing trading But who "generates" those assets you are investing in or trading? Will the action of investing or trading generate them? The cycle must start somewhere. > Software particularly. A couple thousand hours of sweat, toil and despair and you might just create a perpetual cashflow generating machine. Perpetual may be a strong word no? Your software will need attention, improvement, etc., its value will drop in time, someone will launch a slightly better version of your software in an attempt to capture your success, or even launch a company where people rent their money to produce something you simply can't compete with. What about the rest of the things the world needs and are beyond the possibilities of an individual but not beyond those of large groups renting their time? Imagine a highway, or a spaceship.
  - factsaresacred 6y ago
    > But who "generates" those assets you are investing in or trading? This is irrelevant to the individual. The cycle already exists. > Perpetual may be a strong word no? Yes, I'm being slightly facetious. But the possibility of a creating a money-making asset that is unpegged from a 40 hour work week is very real. Of course there's still work to do but the work is invested in an asset that you own rather than being rented out to an employer. This makes all the difference.
    - buran77 6y ago
      > This is irrelevant to the individual. The cycle already exists. Sorry to be so blunt but that's a very superficial view and mostly wrong. The cycle isn't "already there" more than the internet, running water, or toilet paper on shelves are "already there". You're asking why would any farmer bother raising cattle and growing crops when they could just go to the supermarket for milk, meat, etc. It's only irrelevant if you don't care about understanding what we're talking about. > Of course there's still work to do Your premise was to build a system that generates revenue without your presence being required, in contradiction to your follow-up. > the possibility of a creating a money-making asset that is unpegged from a 40 hour work week is very real Agree on this. I'm sure working a classic job is not the only way to make money but my point was different. So far all of the ways mentioned here for making money by decoupling yourself from the 40h work week are either actually conceptually the same as "renting your time", or work because so many others are renting their time, and they are the niche. You're either self-employed (you invest the money, produce the asset, and collect profit), or you employ others to bring you profit (you don't produce the asset, just invest money and collect profit). Either way there's no way to remove the "asset producer" from the equation without turning it into 0=0. And just like anything else on the market the higher the supply, the lower the price. The more people only invest for a living, the smaller the returns for each and the fewer assets that are actually created.

If you want wealth, stop renting out your time. Lean towards equity. You need to be able to make money even while sleeping.

by buf 6y ago

If you want wealth, stop renting out your time. Lean towards equity. You need to be able to make money even while sleeping.

jacobush 6y ago

Would that make you the slave owner?

ThomPete 6y ago
If machines are slaves then yes.
- phaemon 6y ago
  That would make sense if everything was produced entirely by machines, but it doesn't make any sense in the current real world.
  - ThomPete 6y ago
    Neither does it make sense to call people who work for you to provide for their families slaves.
    - phaemon 6y ago
      Then perhaps you should have made that comment rather than a nonsensical one about machines?
      - ThomPete 6y ago
        Why? If you are making money when you sleep the chances that you are using machines to make money is quite large. I am doing that and I don't have any slaves working for me. If you can't see the slave analogy being what is nonsensical here then nothing I can say or do is going to convince you. So I guess by your definition you are either a slave or a slave owner. Oh well.
        phaemon 6y ago
        What on earth are you talking about? Do you know what is meant by"equity"? Are you following the context of this article? It seems like you're just spouting random phrases without a clue what we're discussing.
        ThomPete 6y ago
        I am commenting on a comment about slave owners. Yes, I know what is meant by equity and yes I understand the context. Not sure why you think snark is a relevant method here. But each to their own of course.

xvector 6y ago

How should one go about doing this?

seemslegit 6y ago
Step 1. Make sure everyone else don't do this or else equity will be worth less than wages and drive actual wages down. Step 2. Make sure you yourself are exceptional as far as step 1 is concerned. Step 3. Make money while asleep.
m42 6y ago
Naval podcast is pretty good: https://www.youtube.com/watch?v=jemPACNo1_I&list=PL5QAQBV5zCqVsMqk5UH-LVYuNmM4i6pgW https://www.youtube.com/watch?v=jemPACNo1_I&list=PL5QAQBV5zC...
close04 6y ago
You wouldn't really. Because the current projections assume most people will "rent their time" and a minority lean towards equity. It's like saying "everybody should buy second hand things to save money", ignoring the fact that the saving comes from many not buying second hand.
mdorazio 6y ago
Realistically, most people can't and/or shouldn't do this by building a business or working at a startup. Both of these are very risky and won't generally accomplish what I think the parent comment implies. Instead, the more reliable way is to invest as much of your income as you reasonably can in securities like stocks and bonds so that over time you are indeed making money doing nothing. Also, if your company offers stock options, opt for those if you think the company is going to do well in the future.
- SolaceQuantum 6y ago
  How does the reasoning of buying stocks and bonds work over time given the current crisis has wiped out all the gains for many people made in the past several years utilizing this strategy, and before that was 2008 which did the same?

factsaresacred 6y ago

Nothing revelatory but it's the truth. Anybody seeking more freedom ought to attempt to build a system that generates revenue without your presence being required. Investing, swing trading and software are the most straightforward paths. Software particularly. A couple thousand hours of sweat, toil and despair and you might just create a perpetual cashflow generating machine.

buran77 6y ago
> Investing, swing trading But who "generates" those assets you are investing in or trading? Will the action of investing or trading generate them? The cycle must start somewhere. > Software particularly. A couple thousand hours of sweat, toil and despair and you might just create a perpetual cashflow generating machine. Perpetual may be a strong word no? Your software will need attention, improvement, etc., its value will drop in time, someone will launch a slightly better version of your software in an attempt to capture your success, or even launch a company where people rent their money to produce something you simply can't compete with. What about the rest of the things the world needs and are beyond the possibilities of an individual but not beyond those of large groups renting their time? Imagine a highway, or a spaceship.
- factsaresacred 6y ago
  > But who "generates" those assets you are investing in or trading? This is irrelevant to the individual. The cycle already exists. > Perpetual may be a strong word no? Yes, I'm being slightly facetious. But the possibility of a creating a money-making asset that is unpegged from a 40 hour work week is very real. Of course there's still work to do but the work is invested in an asset that you own rather than being rented out to an employer. This makes all the difference.
  - buran77 6y ago
    > This is irrelevant to the individual. The cycle already exists. Sorry to be so blunt but that's a very superficial view and mostly wrong. The cycle isn't "already there" more than the internet, running water, or toilet paper on shelves are "already there". You're asking why would any farmer bother raising cattle and growing crops when they could just go to the supermarket for milk, meat, etc. It's only irrelevant if you don't care about understanding what we're talking about. > Of course there's still work to do Your premise was to build a system that generates revenue without your presence being required, in contradiction to your follow-up. > the possibility of a creating a money-making asset that is unpegged from a 40 hour work week is very real Agree on this. I'm sure working a classic job is not the only way to make money but my point was different. So far all of the ways mentioned here for making money by decoupling yourself from the 40h work week are either actually conceptually the same as "renting your time", or work because so many others are renting their time, and they are the niche. You're either self-employed (you invest the money, produce the asset, and collect profit), or you employ others to bring you profit (you don't produce the asset, just invest money and collect profit). Either way there's no way to remove the "asset producer" from the equation without turning it into 0=0. And just like anything else on the market the higher the supply, the lower the price. The more people only invest for a living, the smaller the returns for each and the fewer assets that are actually created.