It’s a huge question What would you give up to become a billionaire by 30?
In The fast-paced world of entrepreneurship, 22-year-old Emile Barr is stirring up controversy with his comments on the concept of work-life balance. For him, the concept is nothing more than a trap that prevents ambitious people from achieving massive fortunes in their golden years. But what would you sacrifice to become a billionaire by the age of 30?
In a recent opinion piece in the Wall Street Journal, he addressed the debate within leadership circles, with some CEOs believing a healthy balance is good for employees and the company, while others, like NVIDIA CEO Jensen Huang, insist on maintaining an always-on mentality.
Barr—founder of Step Up Social, managing partner of the Candid Network, and co-founder of FlashPass—said he’s already built two companies with a combined valuation of over $20 million, postponing the rewards while his peers celebrated. “When you focus on early success, you buy the luxury of choice for the rest of your life,” Barr wrote.
This success came at a steep price. While starting Step Up Social in his dorm room at Miami University in Ohio, he said he averaged only 3.5 hours of sleep a night and worked 12.5 hours a day on his project during his first year. “That level of intense work was the only way to build a multi-million-dollar company,” he said.
Barr points out that there’s a narrow window of opportunity to build real accomplishments, especially with today’s access to success tools such as easy access to information, global markets, and productivity tools. He adds , ” The starting salary for a college graduate in the United States is $55,000 a year, which means it takes years to reach your first million. But if you invest your golden years wisely, you could reach financial freedom by age 30 and buy yourself the options for the rest of your life .” He lists five ways he’s demonstrated his ruthlessness:
– First: Outsourcing non-essential tasks, such as cleaning the house, preparing meals, and buying groceries.
Second: Reducing his social commitments, while acknowledging the loss of some friends and his suffering from isolation.
Third: Improve his studies by enrolling in courses related to his business projects or interests, while avoiding classes that prevent him from using laptops.
Fourth: Adopting a “zero-based calendar” where every social commitment, including family gatherings, must be balanced with business obligations.
Fifth: Save time on transportation, even if it means paying extra for a 20-minute flight to avoid a three-hour drive.
“I’m not suggesting everyone abandon work-life balance,” Barr said. “I’m arguing that for ambitious young people who want to build wealth, the traditional balance is a trap that will keep them comfortably mediocre.”
However, he also indicated that his relentless activism would eventually slow down. He said he plans to become a billionaire by the age of 30, by which time he expects to have the time and resources to address more personal issues, such as climate change and economic inequality.
Barr is the latest leader to offer a perspective on work-life balance. Former President Barack Obama told The Pivot Podcast last year, “If you want to excel at anything—sports, music, business, politics—there will be times in your life where you lack balance, where you’re just working and focusing on one goal.”
“If you want to excel at anything — sports, music, business, politics — there will be times in your life where you lack balance, where you just work and focus on one goal,” former President Barack Obama told The Pivot Podcast in an interview last year.
Zoom CEO Eric Yuan confirms this theory, stating that work-life balance is lacking among leaders. He added that he has completely given up his hobbies to devote himself to his $20 billion company, but he still draws the line when it comes to his family.
On the other hand, JPMorgan CEO Jamie Dimon encourages his employees to take care of their health and personal relationships, emphasizing that working efficiently also allows enough time to enjoy life
