Naval Ravikant | The Problem with listening to Advisors (on life, business, money...)
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Naval Ravikant explains why so many people fall for bad advice, and how we can be able to spot the fake people and also identify the people who actually has true knowledge on a specific topic.
Enjoy!
👉 Naval Ravikant
📲 How to Get Rich (podcast)
► https://www.youtube.com/watch?v=1-TZqOsVCNM&t=859s&ab_channel=Naval
📚 Books
📖 The Almanack of Naval Ravikant, by Eric Jorgenson.
► Free - https://www.navalmanack.com/
► Amazon Store (affiliate Link - No Extra Charge) - https://amzn.to/3qNAKBc
⚛︎ ⚛︎ Source ⚛︎ ⚛︎
* https://www.youtube.com/watch?v=s327eiePpYw&ab_channel=ClubhousePodcasts
✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎ Notes ✎ ✎ ✎ ✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎
• In most cases, the Advisor has No True evidence to base his advice.
• * The messages comes only from fake-able signals.
**Despite this, many people fall for the advice.
*** Why?
****People don't have expertise (good judgement) in everything. So they have to trust on others.
**** You can't buy good judgement, but you can buy advice from others. The problem is that without the judgement, is also tough to pick correctly the advisor.
**** Desperation for a particular advice accelerates the "falling" for the advice.
***** E.g./ Making Money
-- This explains the big number of "get rich quick schemes" that exist
--Truth:
+ Making money is an inevitable by product of Learning (which can't be bought. It has to be earned).
+ Leverage is always necessary to build wealth
• Unfakeable Signals (which you can't buy, only earn):
• * Fit body
** Calm mind
** Loving Household
** Good Judgement
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