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

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