The Almanack Of Naval Ravikant
Naval Ravikant (India, grew up in the United States,
How to build wealth and achieve long-term happiness by working on a few essential skills, all while discovering the secrets of living a good life.
1. Create Wealth
To get rich, seek specific knowledge, accountability ???, and leverage.
- Specific knowledge is often highly technical or creative and cannot be outsourced or automated.
“Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.”
“Become the best in the world at what you do. Keep redefining what you do until this is true.”
- Take credit when things go well and ownership when things go wrong
- Leverage comes in the form of labor (requires followers), capital (requires leaders), or through code or media (are permissionless and work while you sleep).
- To gain financial freedom, you must own equity—a piece of a business
“Getting rich is about knowing what to do, who to do it with, and when to do it.”
“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.”
“You’re not going to get rich renting out your time. You must own equity—a piece of business—to gain your financial freedom.”
“Learn to sell. Learn to build. If you can do both, you will be unstoppable.”
Compounding interest can be applied to your finances and your relationships
Compounding interest = money makes more money = the 8 world wonder (Albert Einstein)
“Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.”
“The most important skill for getting rich is becoming a perpetual learner.”
Money is the ultimate tool for freedom
money is something you can have and that they can give you freedom
- You can use them to buy time
- It is the tool you need to experience the real values of life
- build wealth while living a meaningful life
- Importantly, don’t inflate your lifestyle as you earn more money
- Save and invest them to build a future out of the rat race, instead of upgrading your treadmill.
è you’ll need to learn how to play the money game right
2. Build judgment
If wisdom is the knowledge behind the long-term consequences of your actions, judgment is the knowledge to make the right decision to capitalize on those actions.
To build judgment, you must keep abreast of current trends and study technology, design, and art—and become the best in the world at something.
In the age of leverage, one correct decision can win everything.The direction you head in matters much more than your pace. Choose wisely.
Easy decisions, hard life. Hard decisions, easy life.
3. Love to read
To build specific knowledge, read what you love until you love to read.
Be selective + Reread + be absorbed
Most books have one point to make. it’s better to read a book that you’re excited about a hundred times than it is to read one hundred average books that don’t.
4. To become happy, learn how to be neutral and stay quiet
Just look at children playing. They don’t stress much about the future, nor the past, but rather explore the present moment and immerse themselves into whatever they’re doing at that time.
Pausing our human ability to judge, we’ll find new ways of becoming happier.
sitting alone as monks do can be a blissful moment
Happiness is the absence of desire
“Desire is a contract you make with yourself to be unhappy until you get what you want.”
In any situation in life, you always have three choices: you can change it, you can accept it, or you can leave it.
If you want to change it, then it is a desire. To avoid distraction, pick one desire in your life at a time to give yourself purpose and motivation.
