Nuggets of Wisdom From Naval PDF
Nuggets of Wisdom From Naval PDF
Nuggets of Wisdom From Naval PDF
7. The Internet has massively broadened the possible space 15. Building specific knowledge will feel like play to you but
of careers. Most people haven't figured this out yet. will look like work to others.
8. Play iterated games. All the returns in life, whether in 16. When specific knowledge is taught, it’s through
wealth, relationships, or knowledge, come from apprenticeships, not schools.
compound interest.
17. Specific knowledge is often highly technical or creative. It
cannot be outsourced or automated.
18.Embrace accountability, and Everyone is trying to lead, but
take business risks under your
own name. Society will reward
“The purpose of someone has to follow you.
22.Capital means money. To raise money, apply your specific 29.Judgement requires experience, but can be built faster by
knowledge, with accountability, and show resulting good learning foundational skills.
judgment.
30.There is no skill called “business.” Avoid business
23.Labor means people working for you. It's the oldest and magazines and business classes.
most fought-over form of leverage. Labor leverage will
impress your parents, but don’t waste your life chasing it.
35.Work as hard as you can. Even though who you work with
and what you work on are more important than how hard
you work.
1. Life is short, you have to generalize, see what life has to 3. People don’t like going back when they’re 2/3rds of the
offer. Specialization is for ants. way from the mountain peak, but if there’s a dead end
ahead, that’s the right thing to do.
2. We tend to define people by a few narrow identities, but
humans are broader than that. 4. Books read is a vanity metric, a signal for intellect, but it’s
a weak signal. Read books for understanding, drop books
that lose interest. Follow things you do not know, and
follow them deep and wide.
5. The brain has limited space, and too much advice basically 12. You carry around a very weighty and fragile self-image,
cancels out to zero. and one insult can cancel out a hundred compliments.
6. The social media attention span can be turned into an 13. There are 3 things that people want:
advantage: “I am great at digging through multiple To be rich, healthy, and happy (wealthy, fit and fulfilled).
sources.” That’s the trifecta. There are more things than that, but
those 3 are important AND they can be taught.
7. Social media made us into individual celebrities, and
celebrities are the most miserable people out there. 14. You can be born poor and miserable, and through correct
principles and constant work you too can become well-off
8. You want to be rich and anonymous, not poor and famous. and happy.
Not even rich and famous. Fame is a liability. It has a
price, and it’s not worth it. 15. Principles are timeless. You can’t teach them, but they can
be inspired and hooked into your attention, so that you
9. It’s all selfish, status games. If you get a photo with a recognize them when they happen.
celebrity, that’s worth its weight in gold for your own fame
and social media profile. We are social apes after all. 16. The ‘How to get rich (without getting lucky)’ tweet storm
are a collection principles from 13-15 year-old Naval, that
10.We don’t look at ourselves, we look at how other people were carried in his head for 30 years.
look at ourselves. A weird one-step removed point of view,
which isn’t honest or true. 17. The tweet storm had a clickbait-y title, because that’s what
you need to get attention these days. But it was actually
11. Social media incentivises us all to show only the best of about long-term wealth creation principles, and how to
ourselves, and in the end we only show a lie, an illusion. leverage the most to achieve that.
And that makes us suffer, because we compare our
backstage with everyone else’s highlight reels, and we feel 18.We live in an age of infinite leverage. Technology and
miserable. markets.
19. Naval created a podcast to talk 24.If you’re smart and capable,
about the principles, it’s titled
‘Naval.’
“Desire to me is a why can’t you figure out a way to
be happy? “Figure out yourself”
contract that you
20.You don’t want to be rich and 25.Happiness has many
live a life that is high-strung make with yourself definitions, but a clearer one is
high-stress where you leave based on desire. Old buddhist
emotional wreckage behind to be unhappy until wisdom. Happiness being the
you and your family. absence of desire.
you get what you
21. Happiness can be taught. You 26.Desire is a contract you make
have to think of yourself as a want.” with yourself until you get what
happy person, then find ways you want.
to vote towards the person you
want to be. 27.If you’re unhappy, you need to
look at the underlying desire that
22.Social contracts are very powerful. We humans want to makes you unhappy. We are biological creatures, we have
have consistency with our past intentions. With others, or desires hardwired. But, maybe you don’t really need that
silently within ourselves. desire after all.
23.Health can be a choice.
28.Do your best not to have thousands of desires, and
Nutrition can be a choice.
especially not to have unconscious ones. Pick one central
Fitness can be a choice.
desire of your life and let go of the rest.
Hard work can be a choice.
Making money can be a choice.
29.The depressed are usually too busy in their mind, the
sense of self is too overwhelming. Constantly loading the
So can happiness. brain with non-stop information, getting worked up.
30.Imagine a boxer having an epileptic seizure in the ring. 37.What you do.
Same way with overthinking. You need each thought to How you do it.
have purpose. The best state of mind is a calm and focused Who you do it with.
state. Are way more important than how much work you put in.
31. We live in an infinite leverage world, where your actions 38.The modern intellectual athlete is akin to a lion.
can be multiplied a thousand fold. You train hard. You sprint. Then you rest. You reassess
and reflect. Then repeat.
32.Examples of leverage:
Technology, language, broadcasting a thought, writing 39.Machines work constantly 9 to 5. Humans are not like
words, running a podcast, writing code, investing with that. You won’t get rich by renting our your time. Even
your money, making people work for you. doctors and lawyers making big bucks are not scaling fast
enough and will be left behind others that know how to
33.Because of the leverage power, good decision-making and compound.
consistency is much more important than it used to be.
40.You have to be an owner, have a business, own equity,
34.A clear mind leads to better decisions, judgements and own a brand. To capture value you have to be on top of
outcomes. To operate at peak performance you must learn something that scales exponentially, not linearly. Place
how to tame your mind. yourself between customers and money, and work for
yourself, not for other middle-men.
35.High stress can kill you far quicker than cigarettes, Coke,
or McDonalds. 41. The information age will reverse the industrial age: Most
people will start working for themselves. No boss,
36.We like to view the world as linear. 8 hours of work, 8 hierarchy, hierarchy, hierarchy, all the way down.
units of output. Doesn’t work that way. The world is highly
asymmetric. 42.If someone has to tell you when to show up at work, what
to wear, how to behave, then you are not a free person. No
matter how rich you are, that will always be the case.
43.People don’t want money and riches, they want freedom. will go away, and we’ll go back to the lion mentality, where
it’s mission and opportunity based, in sprints.
44.Companies formed due to internal vs external transaction
friction. For instance, if you are a lumber contractor, and 50.Universal Basic Income is a non-solution to a non-
you need wood provided, do you want to make that part of problem. Automation has been happening from the dawn
your company, or an external contract? of time. Since farming, printing press, electricity,
factories.
45.With today’s highly efficient world, the transaction costs
are plummeting, and you can basically do your own thing, 51. There is no finite number of jobs. We are not sitting
do it well, do it for you, and people will come to you. around dividing a set number of jobs since the stone age.
Others will find you because you can solve their problems. Society and collective needs will create new jobs, and
they’re impossible to predict.
46.Gig economy is leveraged by our information and
communication technology. The optimal size of the firm is 52.The issue of job loss to automation is the transition speed
shrinking. of old vs new jobs. We want to protect the people, not the
jobs. Most jobs suck. We are made for creative work.
47.In the future, super high quality and competitive work will People will have to be creative, flexible, and lifelong
be available in a gig fashion. Customer-driven, flexible learners for the future markets.
interfacing. Similar style of Hollywood and Silicon Valley.
53.The issue with UBI:
48.The smart people already figured out that the internet When you get people to vote themselves money, that is a
enables the gig economy. Working remotely, on you own slippery slope into socialism, and that one has its issues
time, on your own schedule, with full ownership, via for those that paid attention to history.
referrals, ratings, and business platforms.
54.Entrepreneurs will flee the country if UBI gets enacted,
49.That’s how people are most productive: independent.
since people are voting forcefully through taxes the money
The idea of how people are cogs in a factory or machine they want. That avenue is dangerous to pursue.
55.Another issue with UBI schools as places where you train
revolves around status, and
meaning. If I give you money,
“Automation over a for a job that lasts your entire
career. All of that is outdated.
I made you a second-class long enough period of
dependant citizen. How does 60.Information tech is changing
that make you feel? time will replace education completely. Heck there
are schools out there that will pay
56.Meaning comes through every non-creative you to attend them.
education and capability. You (@LambdaSchool)
have to teach a man to fish. job...that's great
UBI doesn’t solve the meaning 61.People who talk about AI
problem. news.” automating programming have
never written serious code. Once
57.UBI is wasted if it’s given to you reach machines that can
people like Bill Gates and Joe automate thought design, it’s
Rogan, who don’t really need the over, it’s end-game for humans. The
money, so you get back at a welfare system, which already AI is blown out of proportion, it won’t achieve general
exists. It’s inefficient, but appealing in its simplicity. level in our lifetime.
discussing concretely the clear thinker, you 101.An idea for a kickstart vote
terms, and negotation for list, where you can vote for the
what a limit on people coming cannot pay attention person you actually want, and the
to the US should be. But that vote doesn't get wasted in case
discussion is for sensible to politics. It will the majority is there. Similar
people. On the internet, thing done in auction systems,
everything is black or white. destroy your ability where the Nash equilibrium falls
on being honest. Right now all
98.There is no room for nuance, to think.” votes are strategic
hence why many thinkers
choose to stay out of politics, 102.If you want to be a clear
even if everyone is trying to thinker you have to stay away
drag each other down in from politics way of thinking,
politics. because it's all copying the group.
99.The test of any good system: Build your system, then give 103.All our issues now are issues of abundance and excess.
it to your enemy to run it for the next decade. Will it be Sugar and news was valuable in old times, not too much in
abused then? Problem with democracy: 51% is beating the current quantities.
49%. There is no room for nuance. You cannot vote for a
third party, because that is a wasted vote. You have to 104.We are over-exposed to everything. You have to be an
choose between the two majorities. ascetic and remove yourself from the society. You are
exposed to it everywhere, including to these podcast and
100.All your beliefs have to fit either in the democrat or these tweets. Your phone is always there with you. Put it
republican bundles and tribes. It's making you into an down.
unclear thinker. A copy thinker. If all your beliefs are from
105.We are both the programmers and the 112.You don't need an app for meditation. You're just doing
programs. Everybody is trying to program everybody else.
nothing. What comes, let it be. Don't put effort into it,
The only solution is to limit and turn the machine off. don't put effort against it. Do nothing.
Meditation is a life-saver for this.
113.All meditation leads to one thing:
106.“All of men's problems arise because he cannot sit in a Witnessing. Concentration meditation (like on your
room for 30 minutes alone” ~ Pascal breath) is just a training wheel you use to steal your
attention back to one point, instead of having it go all over
107.Overthinking and overstimulation is a disease, it's a road the place. Eventually you don't need to concentrate on
to misery. You want to learn how to settle in your mind. your breath.
Learning to be alone and to enjoy your solitude is a
superpower. 114.Peace is happiness at rest. Happiness is peace in motion.
108.Meditation is one of those things that everyone says they 115.You can't achieve peace by focusing on external problems,
do, but no one actually does. Like teenage sex. because those are infinite. You gain peace by focusing on
internal problems, and giving up on those that are not
109.Meditation became a signalling thing in society.
important.
It has bragging rights.
116.It's easier to change yourself than to change the
110.Meditation is the art of doing nothing. It's important, world. And the best way to change the world is by
because you have many buried things in you that you changing yourself. Live the life you want other people to
never had time to process. And only by doing nothing can live.
those resurface. Like unread emails, that are piling up,
10-20-40 years. It’s hard and it needs patience. 117.The struggle with environmentalism: They identified the
correct problem (finite earth, spaceship earth), but they
111.Meditation is the best therapy, because it's self-therapy don't have a solution. They scream “No growth,” but
that you can only do by yourself. people starving in India and China won't stop growing.
118.The only way out of the environmental crisis, is still 124.When you're memorizing it's an indication you don't
through technology, the @elonmusk way. Green and understand. You should be able to re-derive or re-
sustainable technology that becomes competitive and construct anything on the spot. If you can't, you don't
cheap and attractive. know it.
119.People are not going to give up economic progress, they 125.The meaning of life is personal. If you find it, or someone
will have to get rich first. The only way to do both is to tells you the meaning of life, the next question to ask is
lower the cost of green tech massively, compared to “Why?” “Why that?”
carbon pollutant tech.
126.Any a chain of "Why?" questions ends up in one of 3
120.You can remove plastic straws from US, but China or places:
India won't accept it unless you give them a green, cheap, 1. Infinite Regression.
great bio-degradable straw alternative that works. You 2. Circular Reasoning.
need innovation, and cost-reduction. There is no band-aid 3. Axioms (Stopping Points)
fix.
127.The question of meaning of life is more interesting that
121.The capitalist property systems are not perfect but they've the answer. The answer basically is “because.” We don't
been proven to work. When you own something, you tend have a set meaning programmed, we are dynamic. Life is
to take care of it. meant to be lived.
122.The biggest mistake in learning is memorization. When 128.The answers to all the great questions are paradoxes.
living life you want to have a deep understanding of what What am I? I am nothing, I am everything. The answer
you're doing and why you're doing it and how it works, matters less, it's the act of pursuing the big questions that
from first-principles. leads you to important places.
123.It's much more important to know the basics, the 129.For any meaning of life, first focus on getting rich. Then
foundation really well, than really advanced concepts. you can ponder on its meaning. Without resources you do
nothing. Buddha was a prince, for reference.
130.There are no get rich schemes, that's just someone trying 136.What you really want is freedom.
to get rich off of you. You want freedom from your money problems. You want
retirement. Not the 65 year old type of retirement.
131.Everyone can be rich. Literally everyone. But not But the “I won't sacrifice today for tomorrow”
overnight. We can make each other rich, by playing long- type of retirement.
term value creation games, leveraged by technology.
137.There are 3 ways to retire:
132.The universe is basically infinite. It's all a matter of 1. You keep your burn rate under your passive income
education, fitness and capability of us, the living (make your money work for you)
beings. Imagine if all people today are trained in 1 year to 2. You keep your burn rate to 0 (you become a monk)
become engineers and scientists. With similar resources, 3. You find a way to do what you love to do, that is play for
you have a completely new Earth. you, and that covers your burn rate
133.Having material possessions doesn't make you happy, if 138.The way you become rich is to be creative, make
you are smart and know what life is about, but a lack of something brand new that society wants it or didn't even
material possessions can make you unhappy, if it's tied to know that it wants it, and doesn't know how to get yet (but
your basic needs. you do know how to make it)
134.The peace we seek is not peace of mind, it's peace from 139.Escape competition through authenticity. Find the thing
mind. you know how to do better than anybody, because you are
you. If you found your thing, you won't have competition.
135.Most ways we try to get peace from mind is indirect (see For instance: There can be no other @joerogan, he stands
drugs, sex, social, sensations, beauty, possessions) People alone
expect there to be something out there that takes care of
everything, and that is the point you achieve for 140.@nntaleb: There are 2 great addictions:
happiness. There is, and it's called death. Heroin and a monthly salary.
141.Working for rewards is a trap 146.You can't condition others to
of the modern times. The
work itself should be the
“When you’re healthy demand their best from their life,
that takes them putting in the
reward, that's what play is. you have 10,000 work. You can at most inspire
some change, or encourage it.
142.Your real resume is a needs, but when
painstaking cataloging of all 147.“Every man has two lives,
your suffering. Being born in a you’re sick you only and the second starts when he
rich family, with no struggle realizes he has just one” ~
and no meaning is not a fun have 1 need.” Confucius
life.
148.A happy person wants
143.There are people that are 10,000 things. A sick person
sinking because they are not wants just one thing. Desires are
taking responsibility for their life. It's always anothers’ clouding your mind, be aware of their effect. Desire is
fault, never my fault. I want to shake them out of it. It's suffering.
not the way to think. It's always your fault.
149.Happy thoughts go in and out of your mind very quickly.
144.Life is a single-player game. It's all going on in your Negative thoughts linger. We are wired like that by
head. Whatever you think you believe will very much evolution. You need to learn to let go of them, it is trained.
shape your reality. The world reflects your own feelings
back at you. 150.Watch your mind. Don't judge it, just watch what it
comes up from it. You will understand better yourself.
145.Reality is neutral. Reality has no judgement, no right or
wrong. You do. You interpret them. Hence why happiness 151.I hate meetings. Meetings should be phone calls. Phone
is a choice. calls should be e-mails. E-mails should be text. Text is
better off not said.
152.You'll never gonna get paid more than what you think
you're worth. So what are you worth?
156.You can't compete with someone that plays for 16h a day,
because his work seems like work to you, but it's actually
play for him.
Links to other Naval stuff: