Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth.
We are wired to believe that the conventional way to make money is the only one out there. The one where we exchange time for money. You work hard at something every day, and at the end of the day, week, or month, get paid in return. It’s true whether you’re a doctor or a barista.
Naval argues that you’re never going to get rich renting out your time. And the only way to make wealth is by having assets that earn while you sleep. It could be a piece of equity in a business that you may or may not own. Or you could write a piece of code, or a book, or prepare an online course.
The point is to build something once and sell it as many times as you want. That’s how you get ahead. Think of it like this: a teacher teaching students the same lessons over and over again every year, versus one who spends a few months preparing an online course that earns way more in just a couple of years than what the other teacher would make in a lifetime.