Naval Ravikant | The Truth about Getting Rich
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Naval Ravikant shares his thoughts about what is the real driver for high financial success. Opposed to what many people believe, it is not the hard work itself that will get you there, although it is a necessary part.
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 ⚛︎ ⚛︎
Link 👉 https://www.youtube.com/watch?v=JdUVIwuNy_c&list=PL3bSdFK6-qbMtfkDHvzTJMW8cL6kSmaaF&index=12&t=1830s&ab_channel=TheTruthSeekerPodcast
✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎ Notes ✎ ✎ ✎ ✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎
• "Most people are working too hard."
•* 99% of your work is Useless.
• ** Is just *iterative / trial & error* (but necessary) work to get to the useful 1%.
• * If you can improve your judgement, you can get faster to that 1%! (work less overall). Because you know what to avoid in the first place.
*** This is why Good Judgement is a Superpower.
• There are too many useless "one-size fits all rules" in Society.
** Some of the most successful people in the world are not necessarily the most hard-workers.
*** Hard Work is important, but not the most important thing (to becoming successful)
**** Hard Work is important to the extent that it builds up judgement. Once you acquire the judgement, you can be very selective on what you do and work smart rather than hard.
• How you can magnify your judgement...
• * Use a source of Leverage:
*** There are 3 different Kinds:
**** Labor -- Outsource (to others) anything that is below your hourly rate (set an aspirational one).
**** Capital -- Multiply the (judgement) force thru free markets. (the more money behind, the greater impact).
**** Code & Media --- Products with no marginal cost of replication. (e.g./ Software products, podcasts, blogs...).
*****This form of leverage is permissionless and where modern fortunes are built.
***** (Highest level) Creator -- Capitalist -- Worker (lowest level)
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