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Summary of the book “THE PARABLE OF THE PIPELINE- BURKE HEDGES”
The author starts the book with a short story. In a village lived two young men (& friends) Bruno and Pablo. A water spring was situated over the top of the mountain which was the only source of water for the villagers, so one day they hired Bruno and Pablo and offered them good amount of money in return of number of buckets of water they carry down the village.
Bruno was very happy and satisfied because with the salary offered, he could buy his own cow and a dream house he always wanted. On the other hand Pablo acknowledged that the salary offered was good but the job was tiresome and with this amount of labour daily he would eventually get weak and would not be able to sustain a healthy lifestyle and soon he may get sick/weak and not be able to show up to his job to haul more buckets.
Pablo makes a plan to make a pipeline from water spring to the village and told Bruno about the plan but Bruno was happy carrying buckets and called this plan unnecessary and crazy.
Both worked 5 days a week, 8 hours each day carrying buckets. While Bruno chilled out in a bar/recliner after his job, Pablo put in a few hours daily after his regular job to build his pipeline and worked 8 hours on weekend/offdays. In a span of few years Pablo built his own pipeline and now he earned money without trading his time for money. This is called a passive income. On the other hand Bruno the bucket carrier became miserable and was no longer needed to villagers to cater their need of water.
Author then explains the need for building a pipeline (Source of passive income) while you carry buckets (trade time for money). He further explains a short term plan (5 year plan) and a long term plan (50 year plan) to create a pipeline for yourself that would pump money without your presence needed (without trading your time for money).
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