Time, Money and why I Pay for ChatGPT Subscriptions
Today, in my student discord group, I tried to explain to my students, the concept of time = money in the context of using paid versions of ChatGPT.
Note: This is essentially a copy paste of what I typed as part of a discussion. So, it may not have my usual, blog post style, flow. you can join my discord group, if you wish, https://discord.gg/CVugpJRBTB.
Something you both will understand as time goes is, time = money.
Especially in western countries, this is extremely true. However, in developing countries, for example, India, we have too many people, so, everybody has lots of time.
So, for example, let’s say a manager uses ChatGPT every day, for work. It takes 10 seconds on the free version to reply. 0.5 seconds in the paid version.
Now, he uses ChatGPT 100 times per day. There are 20 days in a month. So, 100 X 20 = 2000. That is 20,000 seconds. Which is 300 minutes.
That 300 minute is 5 hours which is “wasted” waiting. Now, this western country person, let’s say, is making 50 $ per hour. So, he will make 250 $ in that 5 hour. And he gives 20 dollars.
So, his profit is 230$.
Now a India manager, because he is getting paid flat salary, he does not care about saving time.
So, he will sit and wait. He wants to save 20 $.
But the issue is, the America manager has extra 230 $. He will take that money and give that extra money to his children or save it in bank. So…every month he is making extra $230, so, in 1 year, that is 2760$.
so, that’s how these people keep getting rich, you see.
Meanwhile, India manager, trying to save money, but not increasing money, remains poor.
Now, many times student have asked me, and some students told me, it is stupid to pay GitHub 10 $, 800 rupees, to use ChatGPT in my coding.
My reason is the same reason.
I get the paid version, everything happens fast. I make roughly $30 to $40 per hour. So, thanks to ChatGPT, I save, some 5 to 10 hours every month.
So, I spend $10 to GitHub ChatGPT, and I make 150$ to 300$ 🙂
Time = Money.
This extra money, I use to buy new courses, new computers, learn new things.
Then, next year, I increase my rate. For example, this year, I have started getting some clients who are paying me $80 per hour. Next year, I am hoping to start making 150$ per hour, and I think, I can do it.
All because of the simple policy.
- Time = Money.
- If you want to make money tomorrow, you have to spend money/time today.
Hope this long, boring but important business lesson, helped you guys.
And, that’s where I stopped typing.
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