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Naval
How to Get Rich (without getting lucky):
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Naval May 31
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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.
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Naval May 31
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Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you.
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Naval May 31
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Ignore people playing status games. They gain status by attacking people playing wealth creation games.
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Naval May 31
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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.
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Naval May 31
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You will get rich by giving society what it wants but does not yet know how to get. At scale.
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Naval May 31
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Pick an industry where you can play long term games with long term people.
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Naval May 31
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The Internet has massively broadened the possible space of careers. Most people haven't figured this out yet.
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Naval May 31
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Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.
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Naval May 31
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Pick business partners with high intelligence, energy, and, above all, integrity.
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Naval May 31
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Don't partner with cynics and pessimists. Their beliefs are self-fulfilling.
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Naval May 31
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Learn to sell. Learn to build. If you can do both, you will be unstoppable.
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Naval May 31
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Arm yourself with specific knowledge, accountability, and leverage.
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Naval May 31
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Specific knowledge is knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you.
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Naval May 31
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Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.
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Naval May 31
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Building specific knowledge will feel like play to you but will look like work to others.
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Naval May 31
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When specific knowledge is taught, it’s through apprenticeships, not schools.
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Naval May 31
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Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.
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Jeff Garzik May 31
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Learn to sell, learn to build, learn to be unstoppable despite 20x No's for every Yes
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