Reading Notes of:
How to Get Rich (podcast)
By Naval Ravikant
To learn you have to read. Read what you love until you love to read. Learn the basics first.
- If you understand mathematics and logic – you can learn scientific method. Once you learn SM, you can learn to separate truth from falsehoods in other things you read.
One of the problems with schools is that they reward obedience more than curiosity.
5 most important skills
- Technology Programming
The learning curve is about iterations. Not hours. The more tries you have at a problem, the better you get at it. People are too focused on time. It’s the number of tries. So find ways to get more tries faster. Must become accustomed to frequent small losses.
Embrace accountability and take business risks under your own name. Society will reward you with responsibility, equity, and leverage. To get rich, you need leverage. Leverage comes with effort or capital, or code or media. But most of these things, others have to give to you. For labor, someone has to follow you. For capital, someone has to give it to you. Asset or machines. To get those things, you need a track record. Accountability.
- When people become a brand.
- People who have the ability to fail publicly under their own name gain a lot of power. If you fail, but where honest and made a high integrity effort – people will forgive. Especially in Silicon Valley.
- Accountability is also how you get equity. Because high accountability isn’t replaceable. YOU did the work and got the gain. Equity is a bigger piece of the upside.
- You will be directly compensated based on your accountability (skin in the game). Reputational skin in the game.
- The best is to create a well functioning team, where all team members have accountability for their part.
- Massive accountability (fame) can provide added leverage to charge/earn more from your business
for a full transcript + podcast (worth the listen!!) = https://nav.al/rich