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Eric Siu discusses Naval Ravikant's claim that you can't get rich on salary. The difference: a straight 9-5 job trades time for money, but roles with equity or stock options let you build real wealth while employed.
Eric Siu discusses Naval Ravikant's claim that you can't get rich on salary. The difference: a straight 9-5 job trades time for money, but roles with equity or stock options let you build real wealth while employed.
You talked about Naval Ravikant. He has said that you can't get wealthy with a job. What's your take on that?
So I think Naval's point was like, it's hard to get wealthy renting out your time, right? And typically what a job is, it's you're renting out your time for a set salary. And so what he suggests is like you find some way to get equity, right? So something that scales disproportionate to your time. And I definitely agree, like if you're trying to get to $5, $10, $15, $20 million net worth, you're gonna have to find something besides a high-paying job unless you're some sort of high-paying job that is Let's say you work at Nvidia and you get paid a million bucks a year as the VP of whatever, but you also have stock options, which probably gets you most of the way in terms of your net worth, right? And so even stock options are a form of equity. So you can still get rich with a job, but you want to make sure that job has some sort of equity play for you or some sort of ownership of something else besides just renting out your time. So yeah, I agree.
