Naval Ravikant | How to Get Rich – The 3 Musts (Late Night Tea chatting with Naval)
Naval shares in a quick summary what are the 3 foundations that you will need if you want to get extremely rich over your lifetime.
Enjoy!
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👉 Naval Ravikant
📲 How to Get Rich (podcast)
► https://www.youtube.com/watch?v=1-TZqOsVCNM&t=859s&ab_channel=Naval
📚 Books
📖 The Almanack of Naval Ravikant, by Eric Jorgenson.
► Free – https://www.navalmanack.com/
► Amazon Store (affiliate Link – No Extra Charge) – https://amzn.to/3qNAKBc
—– Source —–
📚📚📚 The 8 Books to Learn How to Invest (List made by SuperInvestor Mohnish Pabrai) 📚📚📚📚📚
📖 The 1957 – 1970 Buffett Partnership Letters
► Free – http://csinvesting.org/wp-content/uploads/2012/05/complete_buffett_partnership_letters-1957-70_in-sections.pdf
📖 The Berkshire Hathaway Shareholder Letters
► Free – https://www.berkshirehathaway.com/letters/letters.html
► Amazon Store (affiliate Link – No Extra Charge) – https://amzn.to/3ESbfSU
📖 Buffett: The Making of an American Capitalist, by Roger Lowenstein.
► Amazon Store (affiliate link – No Extra Charge) – https://amzn.to/3mRiWCN
📖 The Snowball: Warren Buffett and the Business of Life, by Alice Schroeder.
► Amazon Store (affiliate link – No Extra Charge) – https://amzn.to/2Ynf0Ad
📖 Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger, Expanded.
► Amazon Store (affiliate link – No Extra Charge) – https://amzn.to/3kxgrEj
📖 The Dhandho Investor: The Low-Risk Value Method to High Returns, by Mohnish Pabrai.
► Amazon Store (affiliate link – No Extra Charge) – https://amzn.to/3GWLgvz
📖 How to Get Rich: One of the World’s Greatest Entrepreneurs Shares His Secrets, by Felix Dennis. ► Amazon Store (affiliate link – No Extra Charge) – https://amzn.to/3bPg4jE
📖 The Origin and Evolution of New Businesses, by Amar Bhide.
► Amazon Store (affiliate link – No Extra Charge) – https://amzn.to/3EQseF9
✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎ End Notes ✎ ✎ ✎ ✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎
– There is No skill called business.
– Many of these products / services are usually in Technology (sector).
1. Specific Knowledge
– (The product / service) will come out of your specific knowledge –Knowledge that only You have (or a small group of people).
• You build specific knowledge by following your passion, hobbies, genuine intellectual curiosity…
• If you implement your specific knowledge into a product / service — You will get paid well because You will be the only one who can do it!
– You scape competition through authenticity
– Do something that other people don’t know how to do. At scale and when (society) wants it.
2. Accountability
– Build a Personal Brand along the way.
• Cost? — Being accountable.
Where?
– Twitter, Youtube
3. Leverage
– work with No Leverage: x (units) of input — x (units) of Output
– work with Leverage: x (units) of input — [ x (units) * Leverage ] of Output
– The Kinds of Leverage available:
• (You need at least one of them)
• * 1) Labor
*** Other people working for You
*** Difficult to Maintain
** 2) Capital / Money
** 3) Products with No Marginal Cost of Replication
***(the most democratized leverage — is permissionless)
*** e.g./ Books, Media, Code…
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#NavalRavikant #HowToGetRich
🎶 🎶 🎶 🎶 🎶 🎶 🎶 🎶 🎶 Music Credits 🎶 🎶 🎶 🎶 🎶 🎶 🎶 🎶 🎶
🎸 Audionautix
Your Intro by Audionautix is licensed under a Creative Commons Attribution 4.0 licence. https://creativecommons.org/licenses/by/4.0/
Artist: http://audionautix.com/
🎸 LoFi Beats
– Purrple Cat – Journey’s End
– Watch: https://youtu.be/jBdLvNCrgWA
– Download/Stream: https://fanlink.to/AdventureIsland
——— Time Codes ———–
0:00 – Intro
0:55 – Specific Knowledge
1:52 – Brand & Accountability
2:34 – Leverage
5:00 – Summary
6:00 Overshooting
6:52 – Notes Section
7:44 – Reflections
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