If I were interpreting the statement charitably, I'd say there was a sliding spectrum of capital vs labour and most income sources sit between the two at varying positions.
In which case, yes, owning a plumbing business is closer to capital than working at one, which is in turn closer than doing unskilled manual labour on a job site. And on the other end, maybe owning an Airbnb which you clean yourself is closer to labour than owning a portfolio of ETFs.
In which case, yes, owning a plumbing business is closer to capital than working at one, which is in turn closer than doing unskilled manual labour on a job site. And on the other end, maybe owning an Airbnb which you clean yourself is closer to labour than owning a portfolio of ETFs.