Naval You Won't Get Rich Renting Out Your Time
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Mar 8, 2019 Discover why merely renting out your time won't lead to wealth. Emphasizing the importance of equity, the discussion explores how replacing a traditional salary with ownership can unlock financial freedom. It challenges listeners to think critically about their career choices, suggesting that true success comes from roles where inputs and outputs aren't direct reflections of each other. Entrepreneurship and innovation emerge as the key players in achieving scalable income.
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Own Equity, Not Time
- To achieve financial freedom, own equity in a business.
- Renting out your time makes you replaceable and limits your earning potential.
Software Engineering Example
- A skilled software engineer creating something like Bitcoin can generate billions in value.
- Conversely, another engineer could work a year with no tangible outcome.
Disconnecting Inputs and Outputs
- Seek careers where your input doesn't directly correlate with your output.
- This often involves creativity and leverage, like software engineering, where one hour of work can have a huge impact.