We need to teach that owning your time is the path to wealth
startupdreams.substack.com
startupdreams.substack.com
This was something a mentor told me, but then described with a lot more nuance around what that means.
That money is something you can save or borrow, but time is a much harder thing to borrow or save. That when you are young time feels endless and money cramps you up. Instead of chasing money as a goal from that perspective, to chase the ownership of your time which you are going to exchange for money right now.
Not to retire and then chase your passion, but to exercise your passions when you have "young time" instead.
Sure, this advice has only been relevant to me after I got past all my debt.
After that point, you can turn money into time in interesting ways - you can hire a cook, you can live closer to work for more rent, have a babysitter for sunday morning.
But that the purpose of work is not to make money, but to spend your other time well.
True. But with money you can buy other people's time and free your time to do other things instead.
Try this. Next time someone asks you to do something you don’t want to do, respond with “How am I supposed to do that?” It flips it on them and makes them solve the problem they created.
Credit Chris Voss for this. He helped me realize no is fine, and a great way to fulfill a defensive time position. Time is money, but time is also life, so don’t let others steal it from you.
Another reason why "Rich Dad, Poor Dad" or similar titles are best sellers. Because people don't fundamentally grasp the concept of ownership of assets and the leverage that gives you.
Shitty people doing shitty things can and will happen under every economic and political system. If you let people convince you that trying to break the cycle of worker exploitation by changing our literally feudalist corporate structure in any way is a one way ticket to the gulag then the only thing that will happen is you’ll be happier with the lot in life that’s been decided for you.
Second: list famines
And if you define who counts as "workers" and who the "owners" are just so, you can also add "fascist" to the list of people who advocate for a similar system (national socialists).
It's almost as if rhetoric that promises "workers" a way to take back the fruits of their labor from evil "owners" is a really great way for populist demagogues (on either side) to whip up a Revolution that installs a new groups of oligarchs as a central Party apparatus that effectively owns everything... on behalf of the Workers, of course.
But if you do X and win Y money, there's a difference between doing 365 * X in a year and win 365 * Y money and do X in a year and win Y money, so time IS money.
No web service/app that is in the business of making money can just "run on its own", but needs constant development and maintenance. That's why the demand for web devs is so high. If every SW project would be a "fire and forget" experience as you claim, the career wouldn't be nearly as well paid as it is right now.
Even phone apps need to be updated or Apple/Google will remove them from the store.
SW in the '90's was more or less "fire and forget", but salaries and the demand then were nowhere near as high as they were to day.
Even in old cobol codebases coders are still needed to keep up with the changing environment.
The big money in SW is always made in apps and services that are scalable, and that needs constanrt engineering effort.
SW apps that aren't scalable, are a race to the bottom with low margins and low pay that has been offshored or replaced by the services of SW giants.
I've done a few hype driven migrations myself. But if you set out with the primary goal to reduce the amount of time required to run and maintain a software/SaaS/paas/you name it business you can make huge wins in the time department.
Maybe I'm just lucky with a niche subscription based platform that doesn't need much tuning and perhaps 10 support emails a day. It doesn't return a FAANG salary but does net me €90k with minimal operational costs.
The key is not build that app you don't really need (and indeed requires constant baby sitting to please Apple/Google) not rewrite everything to the latest fad eg Svelte + CockroachDB using edge compute on fly.io.
There are enterprise B2B niches where a single small shop can service hundreds of clients, without needing uber-scale (see: you will never exceed 1mil concurrent users).
You can run everything on a single bare metal server if your dev team knows how to not waste resources (see: no ORM/toy databases, sane/strong-typed and compiled back-end language, use a mature package environment and tools, etc.).
Give a decade, and you can then cash-out when a bigger enterprise B2B shop buys you out. It's not an adderall-fueled manic-depressive roller coaster of a time; but it's honest work.
Best part: the only problem I've ever hit with scaling was people being stupid with their databases.