The Almanack of Naval Ravikant: A Guide to Wealth and Happiness

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You won’t be able to achieve financial independence until you own a stake of a firm. Lawyers and doctors may be well compensated, but they may not have passive income from a business that earns for them while they are on vacation. People appear to believe that you can build wealth solely via hard labor. However, there are numerous reasons why this would not work. I’m reading a book on René Girard’s mimetic theory. It’s more of an overview book because I couldn’t make it through his actual writings. I’m reading Tools of Titans, Tim Ferriss’ book of what he learned from a lot of great performers. In the process, we globally accelerate entropy until the heat death of the Universe. You could come up with some fanciful theory, which I like, that we’re headed towards the heat death of the Universe. In that death, there’s no concentrated energy, and everything is at the same energy level. Therefore, we’re all one thing. We’re essentially indistinguishable. And finally is integrity. Because if you have someone who is high intelligence and high energy but they’re low integrity, what you’ve got is a hard working, smart crook. [31] My whole life people have defined entrepreneurship as “people who seek risk to grow a business.” Yet some of the best entrepreneurs and investors are the best at minimizing risk.

Coding, writing books, recording podcasts, tweeting, YouTubing—these kinds of things are permissionless. You don’t need anyone’s permission to do them, and that’s why they are very egalitarian. They’re great equalizers of leverage.[78] Every great software developer, for example, now has an army of robots working for him at nighttime while he or she sleeps, after they’ve written the code, and it’s cranking away.[78] PRODUCTS: In our environment, the final form of leverage is new: products with no marginal cost of repetition. Books, media, movies, and code are all examples of this. Permissionless leverage in the form of code is perhaps the most potent. You only need a computer to produce, and you don’t need anyone’s permission. A history of the human species. The observations, frameworks, and mental models will have you looking at history and your fellow humans differently. [1] If you can’t decide, then the answer is no. We live in abundance. There are countless options to choose from. If, however, you’re evenly split on a difficult decision. Take the path more painful in the short term. Easy decisions, hard life. Hard decisions, easy life. a b Dec 2014, Eric Smillie '02 | Nov-. "Avenging Angel". Dartmouth Alumni Magazine. {{ cite web}}: CS1 maint: multiple names: authors list ( link) CS1 maint: numeric names: authors list ( link)A leveraged worker can out-produce a non-leveraged worker by a factor of one thousand or ten thousand. With a leveraged worker, judgment is far more important than how much time they put in or how hard they work. I grew up in a single-parent household with my mom working, going to school, and raising my brother and me as latchkey kids. We were very self-sufficient from a very early age. There was a lot of hardship, but everyone goes through hardship. It did help me in a number of ways.

AngelList's Naval Ravikant on Syndicates, Two Months In". November 21, 2013 . Retrieved April 26, 2020. We moved to the US when we were very young. I didn’t have many friends, so I wasn’t very confident. I spent a lot of time reading. My only real friends were books. Books make for great friends, because the best thinkers of the last few thousand years tell you their nuggets of wisdom.[8] The mind is just as malleable as the body. We spend so much time and effort trying to change the external world, other people, and our own bodies — all while accepting ourselves the way we were programmed in our youths. It’s the kind of information you can’t learn. If society can train you, it can also train another person to take your position. There is no skill called 'business'. Avoid business magazines and business classes. Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers.”

Forget about rich vs. poor, white-collar vs. blue-collar. It’s now a leveraged versus. unleveraged situation.’ Naval Ravikant (Naval Ravikant) (Naval Ravikant) ( Clear accountability is important. Without accountability, you don’t have incentives. Without accountability, you can’t build credibility. But you take risks. You risk failure. You risk humiliation. You risk failure under your own name. [...] Specific knowledge is found much more by pursuing your innate talents, your genuine curiosity, and your passion. It’s not by going to school for whatever is the hottest job; it’s not by going into whatever field investors say is the hottest. Small example (Product): Instead of doing 5 hour-long 1:1 meetings, spend one hour writing a document about priorities and principles for them to read.