Price vs. Value

"Price is what you pay; value is what you get." — Warren Buffet

It's easy to overlook the difference between price and value.

The distinction between labor and leverage relies upon specificity.

How long it takes to learn how to do something is a better proxy for how valuable something is than how long it takes to do something.

If you can learn to do it in a day, it only takes a day to replace you.