As Hoppa said, it’s about creating Value.
The time you invest to create a certain value isn’t something people pay for, but the value you create.
I make leather hats for a hobby. Depending on the model I need at least ten hours to make one.
Everything done by hand. Cutting, punching holes, sewing, etc.
With minimum wage and material that would equal 200€ for a hat.
So let’s say people are agreeing that that’s the value of the hat and I find 10 people willing to pay 200€ for a hat, that makes 2000€.
If I invest half of this in new tools like an full auto whole punch I am able to reduce production time by half, I can make 20 hats in the same time.
If I can sell them for the same amount, I’ve doubled my income.
Next I invest 1000€ in a laser cutter. And Now I can make 25 hats.
Step by step, I disconnected the effort I put in from the time I put in.
People are paying for the value I created. Not the time I put in.
Same applies to coding. Let’s say someone offers you 10k to write a Programm for a special purpose in his business.
So you agree to deliver the program in 3 months for 10k.
If you deliver the program in three months and it’s working, you delivered the value he desired.
He doesn’t need to know if you worked 80h/ week because you’re knew to this kind of software or you you wrote the code in just a week because you are a master of your craft.
Working time doesn’t define value.
What others are willing to pay defines value.
The whole stock exchange is built upon this.