Modern Day Ownership

Howdy,

Last week, I debriefed you on the ethical considerations of algorithms.

This week, we're talking about redefining what ownership of assets means in the 21st century.

Plus, we've got more photos from the road at the end of the newsletter!

Ownership of assets has changed in the 21st century.

Whether you are a W-2 employee, a freelancer, a startup founder, a non-profit executive, etc., you are chasing ownership over something. Up until now, this has primarily been in the form of some type of monetary asset.

I'm here to argue that we need to be wise about managing our non-monetary assets too.

Assets we can own:

• Monetary - liquid cash, stocks, bonds, crypto, real estate (represented by $ amount)

• Time - how much of your schedule you can put forth towards something (represented by hours)

• Timing - how something fits into your current circumstances (represented by season of life)

• Creativity - how much control you have over what you build day-to-day (represented by autonomy)

Our natural inclination is to strictly think about how we manage monetary assets because they are the easiest asset to measure on that list.

Time, timing, and creativity are harder to measure which makes them increasingly easier to ignore.

Time, timing, and creativity can no longer be ignored.

Let's break the idea of modern day ownership down further.

Time can be measured, but we don't keep track of it. We spend it freely. This is funny to me because this asset is irrevocable. Once it's gone, it's gone.

Timing is when there is alignment with the circumstances in your life and what you want to pursue. We can't track it as easily. It's more of an intuition or gut feeling.

Creativity is the autonomy to set an original vision. This is perhaps the most ambigious of the assets because it is the most difficult to track (and therefore the hardest to communicate.)

These 3 assets can no longer be ignored because they dictate an individual's level of independence.

How much time we spend doing something, the season in which we do it, and what influences our creative energy is the new way of measuring wealth - not just how much money we have in our bank account.

Yet, money is still a factor in this equation.

I don't want to be unrealistic. You have bills to pay. I have bills to pay. We need to support our needs. While money has received too much of our attention towards ownership, it doesn't mean we can ignore it completely. Why?

I believe that the 4 assets are dependent on one another. Here's an example that showcases the dependence of the assets:

Imagine you want to build a startup. This requires money, time, timing, and creativity. How might these assets interact with one another?

1. It takes a degree of financial security (money) to pursue a startup idea (creativity.)

2. It takes intentional design of your schedule (creativity) to free up more of your day (time.)

3. It takes more of your day (time) to create the season for this startup in your life (timing.)

4. It takes your ability to dedicate a season of life to a startup (timing) to give yourself the best possible chance to build a profitable business (money.)

The relationships between these assets are endless.

Now is the time to invest.

If these assets are dependent on one another, then is it possible for growth in one area to encourage growth in another area? Yes.

Money can allow us to build up more of our time, timing, and creativity, but we need to be wise and view each of these 4 assets like equities that we can invest in.

The way in which we think about compounding interest applies here.

The earlier you invest + the longer you stay in the market, the higher the returns you'll see.

The later you invest in your time, timing, and creativity + the less time you spend in the market, the lower the returns you'll see.

We claim that we're too busy to make time to exercise at the gym or cook ourselves healthy meals, but what is the opportunity cost of our time on this earth if we don't make time?

We fear making time on our calendar to climb that mountain or go see that friend who is getting older, but what is the opportunity cost upon the timing of life if we don't seize the day?

We hold ourselves back because of the upfront cost of standing up that landing page for our startup idea or purchasing that set of paintbrushes for our aspirations of becoming an artist, but what is the opportunity cost upon our creativity if we don't pursue our ideas?

Bottom line - if you're prepared to weather ups and downs and make regular investments in your money, time, timing, and creativity, then the best time to invest is now.

Photos of the week

I just crushed a week in western NC. From Charlotte, I went to Boone and then took the Blue Ridge Parkway down to Asheville. Here are some highlights.

The Blue Ridge Parkway is the 2nd finest road in America, in my opinion (only behind Going-to-The-Sun Road in Glacier National Park). It's littered with gorgeous views and rich history, such as the story of the Cone family.

Grandfather Mountain. I'm really impressed at the trails they've created paired with how accessible they've made the outdoors to folks who want to appreciate its beauty but can't hike to the top. That's a hard balance to manage, but they do it well.

Pulloffs like these are peppered throughout the parkway so you can easily take in the beauty of Pisgah National Forest.

Time spent with my 2nd cousin Richard learning about my family's roots in Canton, NC. Thanks to Richard for an awesome day filled with info. about our family history and the history of Asheville, NC.

Living in a van down by the Haith Branch River in Asheville, NC. Shoutout to Chris Farley.

Thanks for reading

Go tell someone about the importance of investing in time, timing, and creativity,

Josh

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