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Leverage as a Multiplier
- Leverage multiplies input (time, connections, money) for greater output.
- Naval Ravikant categorizes leverage as permissioned or permissionless.
Permissioned Leverage
- Permissioned leverage, the oldest form, needs someone else's approval.
- Examples include capital (loans), operational (labor), and knowledge leverage (networking).
Mortgage as Capital Leverage
- A home mortgage exemplifies capital leverage: a small down payment secures a much larger asset.
- This requires the bank's permission to lend, making it permissioned leverage.