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How to get rich (without getting lucky):
Naval
@naval
Seek wealth, not money or status.
Wealth is having assets that earn
while you sleep. Money is how we
transfer time and wealth. Status is
your place in the social hierarchy.
Naval
@naval
Understand that ethical
wealth creation is possible. If
you secretly despise wealth, it
will elude you.
Naval
@naval
Ignore people playing status
games. They gain status by
attacking people playing
wealth creation games.
Naval
@naval
You’re not going to get rich
renting out your time. You
must own equity - a piece of a
business - to gain your
financial freedom.
Naval
@naval
You will get rich by giving
society what it wants but
does not yet know how to get.
At scale.
Naval
@naval
Pick an industry where you
can play long term games
with long term people.
Naval
@naval
The Internet has massively
broadened the possible space
of careers. Most people
haven't figured this out yet.
Naval
@naval
Play iterated games. All the
returns in life, whether in
wealth, relationships, or
knowledge, come from
compound interest.
Naval
@naval
Pick business partners with
high intelligence, energy, and,
above all, integrity.
Naval
@naval
Don't partner with cynics and
pessimists. Their beliefs are
self-fulfilling.
Naval
@naval
Learn to sell. Learn to build. If
you can do both, you will be
unstoppable.
Naval
@naval
Arm yourself with specific
knowledge, accountability,
and leverage.
Naval
@naval
Specific knowledge is
knowledge that you cannot be
trained for. If society can train
you, it can train someone
else, and replace you.
Naval
@naval
Specific knowledge is found
by pursuing your genuine
curiosity and passion rather
than whatever is hot right
now.
Naval
@naval
Building specific knowledge
will feel like play to you but
will look like work to others.
Naval
@naval
When specific knowledge is
taught, it’s through
apprenticeships, not schools.
Naval
@naval
Specific knowledge is often
highly technical or creative. It
cannot be outsourced or
automated.
Naval
@naval
Embrace accountability, and
take business risks under
your own name. Society will
reward you with responsibility,
equity, and leverage.
Naval
@naval
The most accountable people
have singular, public, and
risky brands: Oprah, Trump,
Kanye, Elon.
Naval
@naval
“Give me a lever long enough,
and a place to stand, and I will
move the earth.”
- Archimedes
Naval
@naval
Fortunes require leverage.
Business leverage comes from
capital, people, and products
with no marginal cost of
replication (code and media).
Naval
@naval
Capital means money. To
raise money, apply your
specific knowledge, with
accountability, and show
resulting good judgment.
Naval
@naval
Labor means people working for
you. It's the oldest and most
fought-over form of leverage.
Labor leverage will impress your
parents, but don’t waste your life
chasing it.
Naval
@naval
Capital and labor are
permissioned leverage. Everyone
is chasing capital, but someone
has to give it to you. Everyone is
trying to lead, but someone has to
follow you.
Naval
@naval
Code and media are
permissionless leverage. They're
the leverage behind the newly
rich. You can create software and
media that works for you while
you sleep.
Naval
@naval
An army of robots is freely
available - it's just packed in
data centers for heat and
space efficiency. Use it.
Naval
@naval
If you can't code, write books
and blogs, record videos and
podcasts.
Naval
@naval
Leverage is a force multiplier
for your judgement.
Naval
@naval
Judgement requires
experience, but can be built
faster by learning
foundational skills.
Naval
@naval
There is no skill called
“business.” Avoid business
magazines and business
classes.
Naval
@naval
Study microeconomics, game
theory, psychology,
persuasion, ethics,
mathematics, and computers.
Naval
@naval
Reading is faster than
listening. Doing is faster than
watching.
Naval
@naval
You should be too busy to “do
coffee," while still keeping an
uncluttered calendar.
Naval
@naval
Set and enforce an aspirational
personal hourly rate. If fixing a
problem will save less than your
hourly rate, ignore it. If
outsourcing a task will cost less
than your hourly rate, outsource it.
Naval
@naval
Work as hard as you can.
Even though who you work
with and what you work on
are more important than how
hard you work.
Naval
@naval
Become the best in the world
at what you do. Keep
redefining what you do until
this is true.
Naval
@naval
There are no get rich quick
schemes. That's just
someone else getting rich off
you.
Naval
@naval
Apply specific knowledge,
with leverage, and eventually
you will get what you deserve.
Naval
@naval
When you're finally wealthy,
you'll realize that it wasn't
what you were seeking in the
first place. But that's for
another day.
Naval
@naval

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How to get rich by Naval.

  • 1. How to get rich (without getting lucky): Naval @naval
  • 2. Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy. Naval @naval
  • 3. Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you. Naval @naval
  • 4. Ignore people playing status games. They gain status by attacking people playing wealth creation games. Naval @naval
  • 5. You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom. Naval @naval
  • 6. You will get rich by giving society what it wants but does not yet know how to get. At scale. Naval @naval
  • 7. Pick an industry where you can play long term games with long term people. Naval @naval
  • 8. The Internet has massively broadened the possible space of careers. Most people haven't figured this out yet. Naval @naval
  • 9. Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest. Naval @naval
  • 10. Pick business partners with high intelligence, energy, and, above all, integrity. Naval @naval
  • 11. Don't partner with cynics and pessimists. Their beliefs are self-fulfilling. Naval @naval
  • 12. Learn to sell. Learn to build. If you can do both, you will be unstoppable. Naval @naval
  • 13. Arm yourself with specific knowledge, accountability, and leverage. Naval @naval
  • 14. Specific knowledge is knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you. Naval @naval
  • 15. Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now. Naval @naval
  • 16. Building specific knowledge will feel like play to you but will look like work to others. Naval @naval
  • 17. When specific knowledge is taught, it’s through apprenticeships, not schools. Naval @naval
  • 18. Specific knowledge is often highly technical or creative. It cannot be outsourced or automated. Naval @naval
  • 19. Embrace accountability, and take business risks under your own name. Society will reward you with responsibility, equity, and leverage. Naval @naval
  • 20. The most accountable people have singular, public, and risky brands: Oprah, Trump, Kanye, Elon. Naval @naval
  • 21. “Give me a lever long enough, and a place to stand, and I will move the earth.” - Archimedes Naval @naval
  • 22. Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media). Naval @naval
  • 23. Capital means money. To raise money, apply your specific knowledge, with accountability, and show resulting good judgment. Naval @naval
  • 24. Labor means people working for you. It's the oldest and most fought-over form of leverage. Labor leverage will impress your parents, but don’t waste your life chasing it. Naval @naval
  • 25. Capital and labor are permissioned leverage. Everyone is chasing capital, but someone has to give it to you. Everyone is trying to lead, but someone has to follow you. Naval @naval
  • 26. Code and media are permissionless leverage. They're the leverage behind the newly rich. You can create software and media that works for you while you sleep. Naval @naval
  • 27. An army of robots is freely available - it's just packed in data centers for heat and space efficiency. Use it. Naval @naval
  • 28. If you can't code, write books and blogs, record videos and podcasts. Naval @naval
  • 29. Leverage is a force multiplier for your judgement. Naval @naval
  • 30. Judgement requires experience, but can be built faster by learning foundational skills. Naval @naval
  • 31. There is no skill called “business.” Avoid business magazines and business classes. Naval @naval
  • 32. Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers. Naval @naval
  • 33. Reading is faster than listening. Doing is faster than watching. Naval @naval
  • 34. You should be too busy to “do coffee," while still keeping an uncluttered calendar. Naval @naval
  • 35. Set and enforce an aspirational personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it. Naval @naval
  • 36. Work as hard as you can. Even though who you work with and what you work on are more important than how hard you work. Naval @naval
  • 37. Become the best in the world at what you do. Keep redefining what you do until this is true. Naval @naval
  • 38. There are no get rich quick schemes. That's just someone else getting rich off you. Naval @naval
  • 39. Apply specific knowledge, with leverage, and eventually you will get what you deserve. Naval @naval
  • 40. When you're finally wealthy, you'll realize that it wasn't what you were seeking in the first place. But that's for another day. Naval @naval