Naval How to Get Rich: Every Episode
Embrace Accountability
- Embrace accountability by taking risks under your own name.
- Accountability is crucial for gaining leverage, equity, and credibility.
Pick the Right Business Model
- Choose business models with scale economies, zero marginal costs, and network effects.
- Network effects occur when each user adds value to the existing user base, creating a powerful advantage.
Example: Real Estate
- Increase your earning potential by progressively gaining specific knowledge, accountability, and leverage.
- From laborer to developer to tech entrepreneur, illustrate how to gain these elements.
This giant episode collects every interview I've done on "How to Get Rich." It includes 10 minutes of unreleased material—at the end—on "Finding Time to Invest in Yourself."
Transcript: http://nav.al/rich
Seek Wealth, Not Money or Status 1:30
Make Abundance for the World 6:40
Free Markets Are Intrinsic to Humans 10:21
Making Money Isn't About Luck 14:19
Make Luck Your Destiny 19:25
You Won't Get Rich Renting Out Your Time 24:00
Live Below Your Means for Freedom 28:40
Give Society What It Doesn't Know How to Get 31:01
The Internet Has Massively Broadened Career Possibilities 33:44
Play Long-term Games With Long-term People 38:23
Pick Partners With Intelligence, Energy and Integrity 44:24
Partner With Rational Optimists 49:09
Arm Yourself With Specific Knowledge 54:34
Specific Knowledge Is Highly Creative or Technical 1:00:53
Learn to Sell, Learn to Build 1:06:24
Read What You Love Until You Love to Read 1:10:59
The Foundations Are Math and Logic 1:12:00
There's No Actual Skill Called "Business" 1:16:48
Embrace Accountability to Get Leverage 1:20:06
Take Accountability to Earn Equity 1:25:37
Labor and Capital Are Old Leverage 1:30:06
Product and Media are New Leverage 1:35:01
Product Leverage is Egalitarian 1:39:42
Pick a Business Model With Leverage 1:44:56
Example: From Laborer to Entrepreneur 1:50:51
Judgment Is the Decisive Skill 2:01:15
Set an Aspirational Hourly Rate 2:07:41
Work As Hard As You Can 2:11:26
Be Too Busy to "Do Coffee" 2:16:34
Keep Redefining What You Do 2:20:38
Escape Competition Through Authenticity 2:22:41
Play Stupid Games, Win Stupid Prizes 2:28:17
Eventually You Will Get What You Deserve 2:30:53
Reject Most Advice 2:35:00
A Calm Mind, a Fit Body, a House Full of Love 2:37:55
There Are No Get Rich Quick Schemes 2:42:02
Productize Yourself 2:46:42
Accountability Means Letting People Criticize You 2:48:55
We Should Eventually Be Working for Ourselves 2:55:33
Being Ethical Is Long-Term Greedy 2:56:58
Envy Can Be Useful, or It Can Eat You Alive 3:00:23
Principal-Agent Problem: Act Like an Owner 3:03:51
Kelly Criterion: Avoid Ruin 3:10:33
Schelling Point: Cooperating Without Communicating 3:12:03
Turn Short-Term Games Into Long-Term Games 3:13:55
Compounding Relationships Make Life Easier 3:16:36
Price Discrimination: Charge Some People More 3:19:04
Consumer Surplus: Getting More Than You Paid For 3:20:14
Net Present Value: What Future Income Is Worth Today 3:21:03
Externalities: Calculating the Hidden Costs of Products 3:22:05
Bonus Material: Finding Time to Invest in Yourself 3:23:47