A person's leisure is worth more than the material possessions accumulated to fill it, for possessions can be replaced or repaired, but the hours spent using them, once spent, return to no one; and yet we labour longest for the very possessions that then compete with leisure for the little time labour leaves us.

With reference to the above passage, the following assumptions have been made:

1. Material possessions are worthless once acquired.

2. Time spent acquiring possessions can compete with the time available for leisure.

Which of the above assumptions is/are valid?