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In this quote, Michael Leboeuf is saying that while losing money can be recovered from, losing time through wasting it cannot be undone. Money is a resource that can be earned again, but time spent poorly is permanently gone from our limited lifespan.
The key message is that time should be treated as an even more precious commodity than money, since squandered money can be replaced but squandered time takes away a non-renewable part of our lives that we will never get back.