Naval Ravikant

Naval

Wealth Advice From a Leading Tech Investor And Founder Of AngelList

Episodes
July 23, 2019 Price Discrimination: Charge People More for More
You can charge people for extras based on their propensity to pay. • Price discrimination is a technique for charging …
July 19, 2019 Compounding Relationships Make Life Easier
Life gets a lot easier when you know someone’s got your back. • Compounding relationships make life easier 0:00 • …
July 15, 2019 Turn Short-Term Games Into Long-Term Games
Improve your leverage in negotiations by turning short-term relationships into long-term ones. • Pareto optimal solutions require a trade-off to …
July 12, 2019 Schelling Point: Cooperating Without Communicating
People who can’t communicate can cooperate by anticipating the other person’s actions. • Use social norms to cooperate when you …
July 10, 2019 Kelly Criterion: Avoid Ruin
Don't ruin your reputation or get wiped to zero. • Don't bet everything on one big gamble 0:00 • Ruining …
July 8, 2019 Principal-Agent Problem: Act Like an Owner
If you think and act like an owner, it’s only a matter of time until you become an owner. • …
June 28, 2019 Envy Can Be Useful, or It Can Eat You Alive
Envy can give you a powerful boost, or it can eat you alive if you let it follow you. • …
June 26, 2019 Being Ethical Is Long-Term Greedy
If you cut fair deals, you will get paid in the long run. • Ethics isn’t something you study; it’s …
June 24, 2019 We Should Eventually Be Working for Ourselves
The goal is that we are eventually wealthy and working for ourselves. • This advice is for anybody who wants …
June 21, 2019 Accountability Means Letting People Criticize You
Misunderstanding accountability, and other mistakes on the path to creating wealth. • Accountability means letting people criticize you 0:00 • …
June 2, 2019 How to Get Rich: Every Episode
This giant episode collects every interview we've done on “How to Get Rich.” Transcript: http://nav.al/how-to-get-rich • Seek Wealth, Not Money …
May 24, 2019 Productize Yourself
Figure out what you're uniquely good at and apply as much leverage as possible. • Figure out what you're uniquely …
May 23, 2019 There Are No Get Rich Quick Schemes
Get rich quick schemes are just someone else getting rich off you. • There are no get rich quick schemes …
May 21, 2019 A Calm Mind, a Fit Body, a House Full of Love
When you're finally wealthy, you'll realize it wasn't what you were seeking in the first place. • When you're wealthy, …
May 20, 2019 Reject Most Advice
Most advice is people giving you their winning lottery ticket numbers. • The best founders listen to everyone but make …
May 19, 2019 Eventually You Will Get What You Deserve
Apply specific knowledge with leverage and eventually you will get what you deserve. • On a long enough time scale …
May 17, 2019 Play Stupid Games, Win Stupid Prizes
Competition will blind you to greater games. You're one step away from a better market. • Businesses that seem like …
May 16, 2019 Escape Competition Through Authenticity
Competition can make you play the wrong game. No one can compete with you on being you. • Competition will …
May 13, 2019 Keep Redefining What You Do
Become the best in the world at what you do. Keep redefining what you do until this is true. • …
May 8, 2019 Be Too Busy to “Do Coffee”
You should be too busy to “do coffee”, while still keeping an uncluttered calendar. • Be too busy to “do …
May 6, 2019 Work As Hard As You Can
Work as hard as you can. Even though what you work on and who you work with are more important. …
May 1, 2019 Set an Aspirational Hourly Rate
If outsourcing a task will cost less than your hourly rate, outsource it. • Set and enforce an aspirational hourly …
April 29, 2019 Judgment Is the Decisive Skill
Everything we've discussed so far has been setting you up to apply judgment. • In an age of infinite leverage, …
April 26, 2019 Example: From Laborer to Real Estate Tech
The continuum from laborer to real estate tech company goes from low accountability to high specific knowledge, accountability and leverage. …
April 22, 2019 Pick a Business Model With Leverage
Ideally, you should pick a business model with network effects, low marginal costs and scale economies. • Scale economies: the …
April 19, 2019 Product Leverage Is Egalitarian
Labor and capital are limited to the people who control those resources. But products reach global markets. • Product leverage …
April 17, 2019 Product and Media Are New Leverage
Product and media are the leverage of new wealth. Create software and media that work for you while you sleep. …
April 15, 2019 Labor and Capital Are Old Leverage
Wealth requires leverage. Labor and capital are older forms of leverage that everyone is fighting over. • Our brains aren't …
April 13, 2019 Take Accountability to Earn Equity
If you have high accountability, you're less replaceable and you can get a piece of the business. • Accountability is …
April 11, 2019 Embrace Accountability to Get Leverage
Embrace accountability. Society will reward you with leverage. • You have to have accountability to get leverage 0:00 • Take …
April 8, 2019 There's No Actual Skill Called Business
There's no actual skill called business. Avoid business schools and magazines. • There's no actual skill called business 0:00 • …
April 5, 2019 The Foundations Are Math and Logic
If you understand mathematics and logic, you have the basis for understanding everything else. • The ultimate foundations are math …
April 3, 2019 Read What You Love Until You Love to Read
You should be able to pick up any book in the library and read it. • Read what you love …
March 31, 2019 Learn to Sell, Learn to Build
Learn to sell. Learn to build. If you can do both, you will be unstoppable. • Learn to sell, learn …
March 28, 2019 Specific Knowledge Is Highly Creative or Technical
Specific knowledge tends to be creative or technical. It's on the bleeding edge of technology, art and communication. • Specific …
March 25, 2019 Arm Yourself With Specific Knowledge
Arm yourself with specific knowledge. It can't be trained but it can be found by pursuing your genuine curiosity. • …
March 22, 2019 Partner With Rational Optimists
Don't partner with cynics and pessimists. Their beliefs are self-fulfilling. • Don't partner with pessimists 0:00 • Partner with rational …
March 22, 2019 Pick Partners With Intelligence, Energy and Integrity
Picking partners with high intelligence, energy and integrity is the three-part checklist that you can't compromise on. • Pick business …
March 19, 2019 Play Long-term Games With Long-term People
Pick an industry where you can play long-term games with long-term people. All returns in life come from compound interest …
March 19, 2019 The Internet Has Massively Broadened Career Possibilities
The Internet has massively broadened the possible space of careers, by allowing you to scale any niche obsession. • The …
March 14, 2019 Give Society What It Doesn't Know How to Get
Society will pay you for creating what it wants, but doesn’t know how to get, and delivering it at scale. …
March 11, 2019 Live Below Your Means for Freedom
People living far below their means enjoy a freedom that people busy upgrading their lifestyles just can't fathom. • People …
March 8, 2019 You Won't Get Rich Renting Out Your Time
You won't get rich renting out your time, because you can't earn non-linearly. • You won't get rich renting out …
March 7, 2019 Make Luck Your Destiny
Build your character in a way so luck becomes deterministic. • Build your character so luck becomes your destiny 0:00 …
March 6, 2019 Making Money Isn't About Luck
Making money isn't about luck. It's about becoming the kind of person who makes money. • Making money isn't about …
March 6, 2019 Free Markets Are Intrinsic to Humans
We're the only animals who cooperate across genetic boundaries, because we can track credits and debits in voluntary exchanges. • …
March 5, 2019 Make Abundance for the World
Wealth isn't about taking something from somebody else—it's about creating abundance for the world. • Ethical wealth creation makes abundance …
March 5, 2019 Seek Wealth, Not Money or Status
The difference between wealth, money and status. • Wealth is assets that earn while you sleep 0:56 • Money is …