Leverage - The Most Powerful Idea in the Wealth Section of the Book

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You'd better be excellent if you're going to choose a game where you can't be unique. But you do need to be reasonably excellent to make that your career. Ah, as favourite ideas from the book go h, you knew i wasnt going to let this podcast go by without talking about leverage. I think it's a idea that will define, you know, the next decades,. ah, in the same way that compounding as really defined a lot of the outcomes over the last hundred years.

In the very first episode of Jorgenson’s soundbox Eric Jorgenson sought to use this opportunity to answer some of your core questions around The Almanack of Naval including:

What I learned creating the Almanack of Naval?

What story is underrated from the Alamanack of Naval?

What I have applied from The Almanack of Naval?

And of course I answered questions about leverage!

At the end of this episodes Erick Jorgenson

We also go into what you can expect from Jorgenson's Soundbox. Topics can include DeFi, NFT's, How to put your money to work, education and much more. I hope you enjoy and continue on the journey to Jorgenson’s Soundbox.

A huge thank you to Naval Ravikant, Tim Ferriss, Jack Butcher, and everyone who made this book possible. Thank you for helping Eric Jorgenson help others live the lives that they want to live.

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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

I came up with the principles in my tweetstorm (below) for myself when I was really young, around thirteen or fourteen. I’ve been carrying them in my head for thirty years, and I’ve been living them. Over time (sadly or fortunately), the thing I got really good at was looking at businesses and figuring out the point of maximum leverage to actually create wealth and capture some of that created wealth. - 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

The most important skill for getting rich is becoming a perpetual learner. You have to know how to learn anything you want to learn. The old model of making money is going to school for four years, getting your degree, and working as a professional for thirty years. But things change fast now. Now, you have to come up to speed on a new profession within nine months, and it’s obsolete four years later. But within those three productive years, you can get very wealthy. - Naval Ravikant