Taking Accountability and Finding Leverage

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In this chapter, the speakers discuss the importance of taking accountability and being intentional about the risks one takes. They emphasize the need to find leverage by marshalling resources to amplify one's efforts and increase success. They give examples of successful individuals like Bezos and Musk who are highly leveraged and receive more resources to accomplish their goals. The chapter also touches on the significance of equity in business for achieving financial freedom and the various ways to build equity, including investing in the stock market, starting a small business, or getting stock options in a startup.

On today’s Millennial Investing Rewind Episode, Robert Leonard chats with Eric Jorgenson about who Naval Ravikant is, why he wanted to write a book about him as a guide to wealth and happiness, how his strategy of not making any money out of the book came about and why he chose to go that route, the most important thing Eric has learned from Naval, and much, much more!

IN THIS EPISODE, YOU’LL LEARN

00:00 - Intro

11:38 - How someone can build or find a position of leverage and why this is important going into the future.

12:43 - The breakdown of Naval’s framework on how to get rich without getting lucky.

21:28 - What’s behind Naval's idea wherein he states that if you don't have equity in a business, then you don’t have a path towards financial freedom.

25:46 - What the quote, “You’ll never be rich since you’re obviously smart, and someone will offer you a job that’s just good enough” means.

46:44 - Why Naval believes the forty-hour work week is outdated and why we should be like athletes instead.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

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Related episode - MI091: Warren Buffett’s #3 & Charlie Munger’s #1 Business Book of All-Time w/ Robert Cialdini.
Recommended Book: The Almanack of Naval Ravikant by Eric Jorgenson.
Eric Jorgenson's podcast.
Recommended Book: The 4-Hour Workweek by Tim Ferriss.
Recommended Book: Poor Charlie’s Almanack by Charlie Munger.
Recommended Book: The Complete Calvin and Hobbes by Bill Watterson.
Recommended Book: Influence, New and Expanded: The Psychology of Persuasion by Robert Cialdini.
Recommended Book: Angel by Jason Calacanis.
Recommended Book: The Lean Startup by Eric Ries.
Check out the books mentioned in the podcast here.

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