Entrepreneurial Mindset and Product Value Creation in Business

Links:

Atom Limbs

Waitlist

Crowdfunding Round - Wefunder

Tyler on X

Topics:

(00:00:00) - Intro

(00:02:19) - Inside building Atom Limbs  

(00:18:37) - The process of researching what knowledge was needed to build this company

(00:27:26) - Feedback loops in prosthetics

(00:29:23) - Where is Atom Limbs today?

(00:40:48) - Wild, irresponsible speculation: Where do you hope this company will be in 50 years?

(00:48:30) - Are there ways for these prosthetics to extend lifespan?

(00:52:21) - What’s the price point you’re speculating for a prosthetic?

(00:55:32) - How do you see the next 18 months playing out?

(01:03:16) - How can people support you?

To support the costs of producing this podcast: 

>> Buy a copy of the Navalmanack: www.navalmanack.com/ 

>> Buy a copy of The Anthology of Balaji: https://balajianthology.com/

>> Sign up for my online course and community about building your Personal Leverage: https://www.ejorgenson.com/leverage 

>> Invest in early-stage companies alongside Eric and his partners at Rolling Fun: https://angel.co/v/back/rolling-fun

>> Join the free weekly email list at ejorgenson.com/newsletter

>> Text the podcast to a friend

>> Or at least give the podcast a positive review to help us reach new listeners! 

Important quotes from Naval on building wealth and the difference between wealth and money:

How to get rich without getting lucky. - Naval Ravikant

Making money is not a thing you do—it’s a skill you learn. - Naval Ravikant

Seek wealth, not money or status. - Naval Ravikant

Wealth is having assets that earn while you sleep. - Naval Ravikant

Money is how we transfer time and wealth. - Naval Ravikant

Ignore people playing status games. They gain status by attacking people playing wealth creation games. 

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 Ravikant

Important quotes from the podcast by Naval on Leverage:

“Give me a lever long enough and a place to stand, and I will move the earth.” 

—Archimedes 

To get rich, you need leverage. Leverage comes in labor, comes in capital, or it can come through code or media. But most of these, like labor and capital, people have to give to you. For labor, somebody has to follow you. For capital, somebody has to give you money, assets to manage, or machines. - Naval Ravikant

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 Ravikant

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 Ravikant

If you can’t code, write books and blogs, record videos and podcasts. - Naval Ravikant

Leverage is a force multiplier for your judgment. - Naval Ravikant

Apply specific knowledge, with leverage, and eventually you will get what you deserve. - Naval Ravikant

Important Quotes from the podcast on Business and Entrepreneurship

There is no skill called “business.” Avoid business magazines and business classes. - Naval Ravikant

You have to work up to the point where you can own equity in a business. You could own equity as a small shareholder where you bought stock. You could also own it as an owner where you started the company. Ownership is really important.  

Everybody who really makes money at some point owns a piece of a product, a business, or some IP. That can be through stock options if you work at a tech company. That’s a fine way to start.