Wealth Creation

I just read an absolutely brilliant, and ridiculously long, essay by Paul Graham. I decided to edit the essay, however, the full version, titled How to Make Wealth, is available online.

Startups date back to 1960’s, and they often involve a challenging technology. Instead of working at a corporation at an average pace for several years, you can choose to startup your own company by compressing your effort and concentrating on one difficult aspect. Startups are the best way to get rich.

When working for an established firm you are limited by your job title, and are constantly interrupted by your supervisors and co-workers. The company determines your worth, and you usually do not get paid according to the profit you generate. On the other hand, startups have less red tape, and therefore productivity is increased dramatically. In addition, startups consist of smaller teams and clearly defined individual contributions, resulting in an accurate allocation of profit. While startups reward hard working individuals with greater wealth within a shorter time span, the effort involved is very taxing.

There are many ways to get rich, but getting paid through wealth creation is the most simple and valid method. The key is creating value. Continue reading