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Founders: #277 Paul Graham's Essays Part 3

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What I learned from reading Hackers and Painters: Big Ideas From The Computer Age by Paul Graham ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [4:00] How To Make Wealth by Paul Graham [4:01] Wealth is stuff we want: food, clothes, houses, cars, gadgets, travel to interesting places, and so on. You can have wealth without having money. If you had a magic machine that could on command make you a car or cook you dinner or do your laundry, or do anything else you wanted, you wouldn't need money. Whereas if you were in the middle of Antarctica, where there is nothing to buy, it wouldn't matter how much money you had.[6:00] All a company is is a group of people working together to do something people want. [7:00] It turns out, though, that there are economies of scale in how much of your life you devote to your work. In the right kind of business, someone who really devoted himself to work could generate ten or even a hundred times as much wealth as an average employee. [8:00] And the people you work with had better be good, because it's their work that yours is going to be averaged with. [9:00] In the Company of Giants: Candid Conversation

[00:01] A: How to Make Wealth There are a lot of ways to get rich, and this essay is about only one of them. This essay is about how to make money by creating wealth and getting paid for it. The advantage of creating wealth as a way to get rich is that it's more straightforward. You just have to do something that people want. Money is not wealth. This paragraph is key to understanding this entire essay. Wealth is the stuff we want. Food, clothes, houses, cars, gadgets, travel to interesting places, and so on. You can have wealth without having money. If you had a magic machine that could on…

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