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Naval Ravikant, founder of AngelList and prolific angel investor, reveals how to get rich without getting lucky. He discusses the concept of wealth vs money/status, building a niche internet business, leveraging resources, and finding happiness beyond wealth.
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Quick takeaways
- Wealth is achieved by decoupling time from money and being an owner of something with uncapped upside in profits and equity value.
- To create wealth, identify problems that society wants to be solved but doesn't yet know how, and leverage your imagination to create transformative solutions.
Deep dives
Seek wealth, not money or status
According to Naval Ravikant's viral Twitter thread, seeking wealth, which means having assets that earn while you sleep, is more important than pursuing money or social status. Achieving financial freedom and time freedom requires decoupling your time from your money. This can be done by being an owner of something, such as building a niche internet business that provides uncapped upside in profits and equity value, and allows you to use software or offshore talent to solve a problem for a specific audience.
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Listen to the best highlights from the podcasts you love and dive into the full episode