Investing: The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Eric Jorgenson

Jan 5, 2022

Entrepreneur, philosopher, and investor Naval Ravikant shares his wisdom on building wealth and creating long-term happiness. Seek wealth, not money or status. Embrace accountability, leverage, and specific knowledge. Explore the power of learning publicly and the importance of leverage in building wealth. Reflect on wealth creation, fame, and the challenges of having both. Discover book insights and reflections on advice to their younger selves.

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INSIGHT

Wealth Versus Money And Status

Wealth means owning assets that earn while you sleep, not just cash or status.
Money is a transfer mechanism; status is a zero-sum social rank that you should avoid chasing.

ANECDOTE

AngelList As A Leverage Example

Naval built AngelList and earns carry from many syndicates, illustrating leverage via platform models.
That platform example shows how one product can generate ongoing income from many deals.

ADVICE

Three Pillars To Build Wealth

Arm yourself with specific knowledge, accountability, and leverage to build wealth from scratch.
Embrace accountability by taking business risks under your own name to earn responsibility and equity.

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The Almanack of Naval Ravikant: A Guide to Wealth and Happiness By Eric Jorgenson Getting rich is not just about luck; happiness is not just a trait we are born with. These aspirations may seem out of reach, but building wealth and being happy are skills we can learn. So what are these skills, and how do we learn them? What are the principles that should guide our efforts? What does progress really look like? Naval Ravikant is an entrepreneur, philosopher, and investor who has captivated the world with his principles for building wealth and creating long-term happiness. The Almanack of Naval Ravikant is a collection of Naval’s wisdom and experience from the last ten years, shared as a curation of his most insightful interviews and poignant reflections. This isn’t a how-to book, or a step-by-step gimmick. Instead, through Naval’s own words, you will learn how to walk your own unique path toward a happier, wealthier life. Takeaways Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy. Arm yourself with specific knowledge, accountability, and leverage. Embrace accountability and take business risks under your own name. Society will reward you with responsibility, equity, and leverage. Specific knowledge is knowledge you cannot be trained for. If society can train you, it can train someone else and replace you. Embrace accountability and take business risks under your own name. Society will reward you with responsibility, equity, and leverage. Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media). Learn to sell. Learn to build. If you can do both, you will be unstoppable.

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