Cool story about time assets: Things we can do to save time.

There were all sorts of theories about why Jobs decided to drive without tags. Some people said he didn’t want to be tracked. Others believed he was trying to make a game of avoiding parking tickets. Jon Callas, a former computer security expert who worked for Apple, revealed a different reason.

According to Callas, Steve Jobs discovered a loophole in the California vehicle registration laws. Anyone with a new car had up to six months to get a proper license plate for their new vehicle. During the first six months, however, you could simply drive the vehicle without a license plate.

Once he realized this, Jobs arranged a special leasing agreement with his Mercedes dealer so that every six months he would drop off his current car and receive a new Mercedes SL55 AMG to replace it. This meant that he never drove a car older than six months and he never had to go to the Department of Motor Vehicles to get a license plate. 

After hearing the story, many people responded by saying something like, “I guess that’s what you do when you have a lot of money.” And, to be fair, it is true that this license plate strategy isn’t reasonable for most people on the planet. If you look deeper, however, you’ll notice that something else was happening: Steve Jobs was building a Time Asset.