Wording. That stock in question he first bought at 13 is Texas Pacific Land and he still owns it. It may not have been "his first ever" but he holds that one still.

this is such a funny comment, we are so tech-pilled that we forgot companies traditionally pay dividends and that’s the reason to invest, to share in the profits, not to speculate

If it pays a dividend there is income. Buy and hold is a very common approach to investing. Overtime the cost basis of a good stock will decrease. Some could be sold to invest in other things.

Buy and hold is a hedge against inflation as good if goods increases the the stock reflects the relative expansion of the money supply.

wealth needs to be kept somewhere. you can either keep it in cash where it inflates away. or in bonds that also inflates away but slower or stocks that is a hedge against inflation.

so the point is protecting your wealth against inflation and continuing the compounding over long stretches of time.

you can liquidate as required or even borrow against it like the very rich do.

Technically you can borrow money against your share, if you think your share gains will be higher than the interest rate you essentially have free money (although, obviously, not risk free). So that is a use for never selling shares.

Also some shares pay dividends.

Because if you don't sell you don't pay taxes. You can instead borrow against the asset and get a credit for the interest you pay. The joys of being filthy rich.