How to Get Rich (without getting lucky)

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.

Understand that ethical wealth creation is possible.
If you secretly despise wealth, it will elude you.

Ignore people playing status games. They gain status
by attacking people playing wealth creation games.

You’re not going to get rich renting out your time.
You must own equity, a piece of a business, to gain
your financial freedom.

You will get rich by giving society what it wants but
does not yet know how to get. At scale.

Pick an industry where you can play long term games
with long term people.

The Internet has massively broadened the possible space
of careers. Most people haven't figured this out yet.

Play iterated games. All the returns in life, whether in wealth,
relationships, or knowledge, come from compound interest.

Pick business partners with high intelligence, energy, and,
above all, integrity.

Don't partner with cynics and pessimists. Their beliefs are
self-fulfilling.

Learn to sell. Learn to build. If you can do both, you will
be unstoppable.

Arm yourself with specific knowledge, accountability, and
leverage.

Specific knowledge is knowledge that you cannot be trained for.
If society can train you, it can train someone else, and replace you.

Specific knowledge is found by pursuing your genuine curiosity
and passion rather than whatever is hot right now.

Building specific knowledge will feel like play to you but
will look like work to others.

When specific knowledge is taught, it’s through apprenticeships,
not schools.

Specific knowledge is often highly technical or creative. It
cannot be outsourced or automated.

Embrace accountability, and take business risks under your own name.
Society will reward you with responsibility, equity, and leverage.

The most accountable people have singular, public, and risky brands:
Oprah, Trump, Kanye, Elon.

“Give me a lever long enough, and a place to stand, and I will move the earth.”
- Archimedes

Fortunes require leverage. Business leverage comes from capital, people,
and products with no marginal cost of replication (code and media).

Capital means money. To raise money, apply your specific knowledge,
with accountability, and show resulting good judgment.

Labor means people working for you. It's the oldest and most fought-over
form of leverage. Labor leverage will impress your parents, but don’t waste
your life chasing it.

Capital and labor are permissioned leverage. Everyone is chasing capital,
but someone has to give it to you. Everyone is trying to lead, but
someone has to follow you.

Code and media are permissionless leverage. They're the leverage behind
the newly rich. You can create software and media that works for you while
you sleep.

An army of robots is freely available - it's just packed in data centers for heat
and space efficiency. Use it.

If you can't code, write books and blogs, record videos and podcasts.

Leverage is a force multiplier for your judgement.

Judgement requires experience, but can be built faster by learning foundational
skills.

Reading is faster than listening. Doing is faster than watching.

Set and enforce an aspirational personal hourly rate. If fixing a problem will
save less than your hourly rate, ignore it. If outsourcing a task will cost less
than your hourly rate, outsource it.

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.

Become the best in the world at what you do. Keep redefining what you do until
this is true.

There are no get rich quick schemes. That's just someone else getting rich off you.

Apply specific knowledge, with leverage, and eventually you will get what you deserve.

When you're finally wealthy, you'll realize that it wasn't what you were seeking in the first place.
But that's for another day.

Naval Ravikant
Friend and Silicon Valley Guru.

https://drive.google.com/file/d/1eUVz5ToR2ZqdL2x3Y2sypNNdImrlC26m/view