Nullius in Verba
02:14
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Transcript: https://nav.al/nullius-2
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Mar 05, 2021 |
The Beginning of Infinity
01:58
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Transcript: https://nav.al/infinity
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Mar 03, 2021 |
Science Is the Engine That Pulls Humanity Forward
02:14
https://traffic.libsyn.com/secure/naval/Naval-Ep72.mp3?dest-id=1103966
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Transcript: https://nav.al/science-2
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Mar 01, 2021 |
Matt Ridley: How Innovation Works, Part 2
30:32
https://traffic.libsyn.com/secure/naval/Naval-Ep71.mp3?dest-id=1103966
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Transcript: http://nav.al/matt-ridley-2
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Jul 15, 2020 |
Matt Ridley: How Innovation Works, Part 1
29:50
https://traffic.libsyn.com/secure/naval/Naval-Ep70.mp3?dest-id=1103966
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Transcript: http://nav.al/matt-ridley
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Jul 09, 2020 |
How to Angel Invest, Part 2
36:28
https://traffic.libsyn.com/secure/naval/Naval-Ep69.mp3?dest-id=1103966
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Excerpted from the Spearhead podcast: http://spearhead.co
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Jun 12, 2020 |
The Path to Peace Is Truth
01:45
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Discovering the truth can change you where self-improvement fails. Transcript: http://nav.al/truth
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Mar 26, 2020 |
Groups Search for Consensus, Individuals Search for Truth
02:05
https://traffic.libsyn.com/secure/naval/Naval-Ep67.mp3?dest-id=1103966
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Even smart people go along with society’s lies. Transcript: http://nav.al/consensus
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Mar 24, 2020 |
The Closer You Are to the Truth, the More Silent You Become Inside
01:15
https://traffic.libsyn.com/secure/naval/Naval-Ep66.mp3?dest-id=1103966
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Wise people are quiet. Transcript: http://nav.al/silent
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Mar 10, 2020 |
Happiness Is Peace in Motion
02:27
https://traffic.libsyn.com/secure/naval/Naval-Ep65.mp3?dest-id=1103966
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Peace is happiness at rest. Transcript: http://nav.al/peace-motion
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Mar 05, 2020 |
Finding Peace from Mind
02:10
https://traffic.libsyn.com/secure/naval/Naval-Ep64.mp3?dest-id=1103966
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The mind should be a servant, not a master. Transcript: http://nav.al/peace
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Mar 03, 2020 |
Breaking Addiction is Socially Unacceptable
01:47
https://traffic.libsyn.com/secure/naval/Naval-Ep63.mp3?dest-id=1103966
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Addiction holds together artificial relationships and fake activities. Transcript: http://nav.al/unacceptable
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Feb 26, 2020 |
The Modern Struggle Is Fighting Weaponized Addiction
01:38
https://traffic.libsyn.com/secure/naval/Naval-Ep62.mp3?dest-id=1103966
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Pursuing pleasure for its own sake creates addiction. Transcript: http://nav.al/addiction
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Feb 24, 2020 |
Work the Least for It
01:53
https://traffic.libsyn.com/secure/naval/Naval-Ep61.mp3?dest-id=1103966
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Happy people don’t have to work as hard. Transcript: http://nav.al/least
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Feb 19, 2020 |
Being Unhappy Is Very Inefficient
01:47
https://traffic.libsyn.com/secure/naval/Naval-Ep60.mp3?dest-id=1103966
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If you're a driven, unhappy person, your mind will be on 24/7. Transcript: http://nav.al/inefficient
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Feb 17, 2020 |
If You’re So Smart, Why Aren’t You Happy?
02:53
https://traffic.libsyn.com/secure/naval/Naval-Ep59.mp3?dest-id=1103966
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You can increase your happiness without losing your drive. Transcript: http://nav.al/smart
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Feb 12, 2020 |
Desire Is a Contract You Make to Be Unhappy
01:09
https://traffic.libsyn.com/secure/naval/Naval-Ep58.mp3?dest-id=1103966
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Happiness is returning to a state where nothing is missing.
Transcript: http://nav.al/desire
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Feb 10, 2020 |
Happiness Is a Skill You Can Develop
01:16
https://traffic.libsyn.com/secure/naval/Naval-Ep57.mp3?dest-id=1103966
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You’re not stuck at your current level of happiness. Transcript: http://nav.al/skill
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Feb 03, 2020 |
Happiness Is Not Science or Math
01:28
https://traffic.libsyn.com/secure/naval/Naval-Ep56.mp3?dest-id=1103966
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Happiness is more like poetry than algorithms. Transcript: http://nav.al/math
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Jan 28, 2020 |
Happiness Without Material Comfort Is Playing on Hard Mode
02:20
https://traffic.libsyn.com/secure/naval/Naval-Ep55.mp3?dest-id=1103966
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It's easier to fulfill your material desires than to renounce them. http://nav.al/material
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Jan 28, 2020 |
Live Long Enough and You’ll Become a Philosopher
01:37
https://traffic.libsyn.com/secure/naval/Naval-Ep54.mp3?dest-id=1103966
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This podcast is a practical philosophy of health, wealth and happiness. Transcript: https://nav.al/philosopher
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Jan 25, 2020 |
How to Get Rich: Every Episode
03:35:36
https://traffic.libsyn.com/secure/naval/Naval-Ep53.mp3?dest-id=1103966
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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
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Dec 10, 2019 |
How to Angel Invest, Part 1
39:21
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Excerpted from the Spearhead podcast: http://spearhead.co
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Nov 17, 2019 |
Externalities: Calculating the Hidden Costs of Products
01:43
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Externalities let you account for the true cost of products by including hidden costs like environmental damage. • Pricing externalities properly is more effective than feel-good measures 0:32 • Properly pricing externalities can save resources in a tremendous way 1:10 Transcript: http://nav.al/externalities
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Jul 31, 2019 |
Net Present Value: What Future Income Is Worth Today
01:02
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Calculate what future income is worth today by applying a discount to its future value. • Figure out what future income is worth today by applying a discount rate 0:00 Transcript: http://nav.al/npv
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Jul 29, 2019 |
Consumer Surplus: Getting More Than You Paid For
49
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A lot of people are willing to pay more than what companies charge.
• Consumer surplus is the extra value you get when you pay less than you were willing 0:00 Transcript: http://nav.al/surplus
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Jul 25, 2019 |
Price Discrimination: Charge Some People More
01:10
https://traffic.libsyn.com/secure/naval/Naval-Ep48.mp3?dest-id=1103966
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You can charge people for extras based on their propensity to pay. • Price discrimination is a technique for charging certain people more 0:00 • Rich people and large enterprises are willing to pay more 0:51 Transcript: http://nav.al/price-discrimination
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Jul 23, 2019 |
Compounding Relationships Make Life Easier
02:29
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Life gets a lot easier when you know someone’s got your back. • Compounding relationships make life easier 0:00 • It’s better to have a few compounding relationships than many shallow ones 1:11 • It takes just as much effort to create a small business as a large one 1:40 Transcript: http://nav.al/relationships
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Jul 19, 2019 |
Turn Short-Term Games Into Long-Term Games
02:42
https://traffic.libsyn.com/secure/naval/Naval-Ep46.mp3?dest-id=1103966
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Improve your leverage in negotiations by turning short-term relationships into long-term ones. • Pareto optimal solutions require a trade-off to improve any criterion 0:00 • Negotiations are won by whoever cares less 0:44 • Convert single-move games to multi-move games 1:54 Transcript: http://nav.al/pareto-optimal
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Jul 15, 2019 |
Schelling Point: Cooperating Without Communicating
01:39
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People who can’t communicate can cooperate by anticipating the other person’s actions. • Use social norms to cooperate when you can’t communicate 0:00 • You can find Schelling points in business, art and politics 1:14 Transcript: http://nav.al/schelling-point
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Jul 12, 2019 |
Kelly Criterion: Avoid Ruin
01:42
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Don't ruin your reputation or get wiped to zero. • Don't bet everything on one big gamble 0:00 • Ruining your reputation is the same as getting wiped to zero 0:54 Transcript: http://nav.al/kelly-criterion
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Jul 10, 2019 |
Principal-Agent Problem: Act Like an Owner
06:42
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If you think and act like an owner, it’s only a matter of time until you become an owner. • A principal is an owner; an agent is an employee 0:00 • A principal’s incentives are different than an agent’s incentives 1:08 • If you can work on incentives, don't work on anything else 2:15 • When you do deals, it’s better to have the same incentives 3:15 • If you’re an employee, your most important job is to think like a principal 4:05 • Deal with small firms to avoid the principal-agent problem 5:29 Transcript: http://nav.al/principal-agent
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Jul 08, 2019 |
Envy Can Be Useful, or It Can Eat You Alive
03:29
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Envy can give you a powerful boost, or it can eat you alive if you let it follow you. • Suffering through the wrong thing can motivate you to find the right thing 0:00 • Being a lawyer was not what I was meant to do 1:14 • Envy can be useful or it can eat you alive 2:28 Transcript: http://nav.al/envy
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Jun 28, 2019 |
Being Ethical Is Long-Term Greedy
03:26
https://traffic.libsyn.com/secure/naval/Naval-Ep41.mp3?dest-id=1103966
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If you cut fair deals, you will get paid in the long run. • Ethics isn’t something you study; it’s something you do 0:00 • Trust leads to compounding relationships 0:51 • Being ethical attracts other long-term players 1:19 • Being ethical is long-term greedy 1:58 • If you cut fair deals, you will get paid in the long run 2:40 Transcript: http://nav.al/ethics
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Jun 26, 2019 |
We Should Eventually Be Working for Ourselves
04:27
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The goal is that we are eventually wealthy and working for ourselves. • This advice is for anybody who wants to be entrepreneurial 0:00 • Middle age can be the most fruitful time to apply this advice 0:48 • Look up the value chain to find leverage 1:58 • You will do better in a small organization 2:43 • The goal is that we are all working for ourselves 3:25 Transcript: http://nav.al/target-audience
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Jun 24, 2019 |
Accountability Means Letting People Criticize You
03:39
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Misunderstanding accountability, and other mistakes on the path to creating wealth. • Accountability means letting people criticize you 0:00 • The most interesting parts should be the ones you disagree with 1:06 • Get the free leverage that's available in tech 1:53 • Not doing things because other people can't do them is living in denial 2:21 • Realize your philanthropic vision by running a business 2:54 Transcript: http://nav.al/common-mistakes
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Jun 21, 2019 |
How to Get Rich: Every Episode
03:35:36
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Jun 02, 2019 |
Productize Yourself
01:55
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Figure out what you're uniquely good at and apply as much leverage as possible. • Figure out what you're uniquely good at and apply as much leverage as possible 0:00 • Find hobbies that make you rich, fit and creative 1:07 Transcript: http://nav.al/productize-yourself
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May 24, 2019 |
There Are No Get Rich Quick Schemes
04:41
https://traffic.libsyn.com/secure/naval/Naval-Ep36.mp3?dest-id=1103966
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Get rich quick schemes are just someone else getting rich off you. • There are no get rich quick schemes 0:00 • We don't have ads because it would ruin our credibility 0:56 • Every founder has to lie to every employee 2:02 • Anyone giving advice on how to get rich should have made their money elsewhere 3:02 Transcript: http://nav.al/rich-quick
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May 23, 2019 |
A Calm Mind, a Fit Body, a House Full of Love
04:07
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When you're finally wealthy, you'll realize it wasn't what you were seeking in the first place. • When you're wealthy, you'll realize it wasn't what you were seeking 0:00 • A calm mind, a fit body and a house full of love must be earned 1:00 • Practical advice for a calmer internal state 1:52 • A lot of divorces happen over money, a lot of battles happen over internal anger 3:14 Transcript: http://nav.al/finally-wealthy
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May 21, 2019 |
Reject Most Advice
02:55
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Most advice is people giving you their winning lottery ticket numbers. • The best founders listen to everyone but make up their own mind 0:00 • Advice is maxims you can recall later, when you get your own experience 1:29 Transcript: http://nav.al/reject-advice
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May 20, 2019 |
Eventually You Will Get What You Deserve
04:08
https://traffic.libsyn.com/secure/naval/Naval-Ep33.mp3?dest-id=1103966
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Apply specific knowledge with leverage and eventually you will get what you deserve. • On a long enough time scale you will get paid 0:00 • What are you really good at that the market values? 1:59 Transcript: http://nav.al/deserve
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May 19, 2019 |
Play Stupid Games, Win Stupid Prizes
02:39
https://traffic.libsyn.com/secure/naval/Naval-Ep32.mp3?dest-id=1103966
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Competition will blind you to greater games. You're one step away from a better market. • Businesses that seem like they're in direct competition really aren't 0:00 • My first company got caught up in the wrong game 1:23 Transcript: http://nav.al/stupid-games
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May 17, 2019 |
Escape Competition Through Authenticity
05:37
https://traffic.libsyn.com/secure/naval/Naval-Ep31.mp3?dest-id=1103966
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Competition can make you play the wrong game. No one can compete with you on being you. • Competition will trap you in a lesser game 0:00 • No one can compete with you on being you 1:27 • In entrepreneurship, the masses are never right 2:40 • Combine your vocation and avocation 3:45 Transcript: http://nav.al/competition-authenticity
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May 16, 2019 |
Keep Redefining What You Do
02:04
https://traffic.libsyn.com/secure/naval/Naval-Ep30.mp3?dest-id=1103966
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Become the best in the world at what you do. Keep redefining what you do until this is true. • Keep redefining what you do until you're the best at what you do 0:00 • Find founder-product-market fit 1:35 Transcript: http://nav.al/redefining
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May 13, 2019 |
Be Too Busy to “Do Coffee”
04:06
https://traffic.libsyn.com/secure/naval/Naval-Ep29.mp3?dest-id=1103966
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You should be too busy to “do coffee”, while still keeping an uncluttered calendar. • Be too busy to “do coffee” while keeping an uncluttered calendar 0:00 • People will meet with you when you have proof of work 2:00 • Networking is overrated even early in your career 2:09 Transcript: http://nav.al/meetings
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May 08, 2019 |
Work As Hard As You Can
05:09
https://traffic.libsyn.com/secure/naval/Naval-Ep28.mp3?dest-id=1103966
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Work as hard as you can. Even though what you work on and who you work with are more important. • Work as hard as you can 0:00 • But what you work on and who you work with are more important 1:00 • Nobody really works 80 hours a week 2:22 • Inspiration is perishable 3:05 • Impatience with actions, patience with results 3:36 Transcript: http://nav.al/work-hard
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May 06, 2019 |
Set an Aspirational Hourly Rate
03:48
https://traffic.libsyn.com/secure/naval/Naval-Ep27.mp3?dest-id=1103966
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If outsourcing a task will cost less than your hourly rate, outsource it. • Set and enforce an aspirational hourly rate 0:00 • You can't penny pinch your way to wealth 1:27 • My aspirational rate was $5,000/hr 1:56 • If you can outsource something for less than your hourly rate, outsource it 2:57 • Your hourly rate should seem absurdly high 3:39 Transcript: http://nav.al/hourly-rate
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May 01, 2019 |
Judgment Is the Decisive Skill
06:30
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Everything we've discussed so far has been setting you up to apply judgment. • In an age of infinite leverage, judgment becomes the most important skill 0:00 • Everything else you do is setting you up to apply judgment 1:21 • Judgment is knowing the long-term consequences of your actions 2:40 • Without experience, judgment is often less than useless 3:15 • The people with the best judgment are among the least emotional 4:05 • A lot of the top investors often sound like philosophers 5:18 • The more outraged someone is, the worse their judgment 6:00 Transcript: http://nav.al/judgment
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Apr 29, 2019 |
Example: From Laborer to Real Estate Tech
05:24
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The continuum from laborer to real estate tech company goes from low accountability to high specific knowledge, accountability and leverage. • Laborers get paid hourly and have low accountability 0:19 • General contractors get equity, but they're also taking risk 1:20 • Property developers pocket the profit by applying capital leverage 2:14 • Architects, large developers and REITs are even higher in the stack 3:16 • Real estate tech companies apply the maximum leverage 4:05 Transcript: http://nav.al/laborer-tech
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Apr 26, 2019 |
Pick a Business Model With Leverage
05:47
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Ideally, you should pick a business model with network effects, low marginal costs and scale economies. • Scale economies: the more you produce, the cheaper it gets 0:00 • Zero marginal cost of reproduction: producing more is free 0:51 • Network effects: value grows as the square of the customers 1:34 • Network effect businesses are natural monopolies 2:26 • In a network effect, each new user adds value to the existing users 3:06 • Zero marginal cost businesses can pivot into network effect businesses 5:01 Transcript: http://nav.al/business-models
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Apr 22, 2019 |
Product Leverage Is Egalitarian
05:11
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Labor and capital are limited to the people who control those resources. But products reach global markets. • Product leverage is a positive-sum game 0:00 • Status goods are limited to a few people 0:57 • The best products tend to be targeted at the middle class 1:25 • Creating wealth with product leads to more ethical wealth 2:06 • You want to use the product that is used by the most people 3:06 • Capital and labor are becoming permissionless 4:24 Transcript: http://nav.al/egalitarian-leverage
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Apr 19, 2019 |
Product and Media Are New Leverage
05:18
https://traffic.libsyn.com/secure/naval/Naval-Ep22.mp3?dest-id=1103966
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Product and media are the leverage of new wealth. Create software and media that work for you while you sleep. • Product and media are the new leverage 0:00 • Product leverage is where the new fortunes are made 0:55 • Combining all three forms of leverage is a magic combination 1:28 • Product and media leverage are permissionless 2:03 • The robots army is already here—code lets you tell them what to do 2:59 Transcript: http://nav.al/product-media
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Apr 17, 2019 |
Labor and Capital Are Old Leverage
04:42
https://traffic.libsyn.com/secure/naval/Naval-Ep21.mp3?dest-id=1103966
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Wealth requires leverage. Labor and capital are older forms of leverage that everyone is fighting over. • Our brains aren't evolved to comprehend new forms of leverage 0:00 • Society overvalues labor leverage 1:08 • You want the minimum amount of labor that allows you to use the other forms of leverage 1:56 • Capital has been the dominant form of leverage in the last century 2:40 • You need specific knowledge and accountability to obtain capital 4:52 Transcript: http://nav.al/labor-capital
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Apr 15, 2019 |
Take Accountability to Earn Equity
04:56
https://traffic.libsyn.com/secure/naval/Naval-Ep20.mp3?dest-id=1103966
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If you have high accountability, you're less replaceable and you can get a piece of the business. • Accountability is how you're going to get equity 0:00 • Taking accountability is like taking equity in all your work 0:29 • The downside of accountability is not that large 2:11 • Accountability is reputational skin in the game 4:30 Transcript: http://nav.al/accountability-equity
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Apr 13, 2019 |
Embrace Accountability to Get Leverage
04:30
https://traffic.libsyn.com/secure/naval/Naval-Ep19.mp3?dest-id=1103966
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Embrace accountability. Society will reward you with leverage. • You have to have accountability to get leverage 0:00 • Take business risks under your own name 0:54 • A well-functioning team has clear accountability for each position 2:09 • People who can fail in public have a lot of power 3:47 Transcript: http://nav.al/accountability-leverage
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Apr 11, 2019 |
There's No Actual Skill Called Business
05:33
https://traffic.libsyn.com/secure/naval/Naval-Ep18.mp3?dest-id=1103966
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There's no actual skill called business. Avoid business schools and magazines. • There's no actual skill called business 0:00 • Doing is faster than watching 0:55 • The number of “doing” iterations drives the learning curve 2:49 • If you're willing to bleed a little every day, you may win big later 3:53 Transcript: http://nav.al/skill-business
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Apr 08, 2019 |
The Foundations Are Math and Logic
03:20
https://traffic.libsyn.com/secure/naval/Naval-Ep17.mp3?dest-id=1103966
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If you understand mathematics and logic, you have the basis for understanding everything else. • The ultimate foundations are math and logic: 0:00 • It’s better to read a great book slowly than to fly through a hundred books quickly: 1:22 • Learn persuasion and programming: 2:08 Transcript: http://nav.al/math-logic
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Apr 05, 2019 |
Read What You Love Until You Love to Read
04:48
https://traffic.libsyn.com/secure/naval/Naval-Ep16.mp3?dest-id=1103966
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You should be able to pick up any book in the library and read it. • Read what you love until you love to read: 0:00 • Read the original scientific books in a field: 1:44 • Don't fear any book: 2:43 • The means of learning are abundant, the desire to learn is scarce: 3:54 Transcript: http://nav.al/love-read
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Apr 03, 2019 |
Learn to Sell, Learn to Build
05:36
https://traffic.libsyn.com/secure/naval/Naval-Ep15.mp3?dest-id=1103966
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Learn to sell. Learn to build. If you can do both, you will be unstoppable. • Learn to sell, learn to build 0:00 • The Silicon Valley model is a builder and seller 1:07 • If you can do both you will be unstoppable 1:52 • I'd rather teach an engineer marketing than a marketer engineering 2:48 • Building is better when you're starting out, sales scales better over time 4:33 Transcript: http://nav.al/build-sell
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Mar 31, 2019 |
Specific Knowledge Is Highly Creative or Technical
05:31
https://traffic.libsyn.com/secure/naval/Naval-Ep14.mp3?dest-id=1103966
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Specific knowledge tends to be creative or technical. It's on the bleeding edge of technology, art and communication. • Specific knowledge can be taught through apprenticeships 0:00 • Specific knowledge is often highly creative or technical 0:45 • Specific knowledge is specific to the individual and situation 2:02 • You can't be too deliberate about assembling specific knowledge 3:01 • Build specific knowledge where you are a natural 4:44 Transcript: http://nav.al/creative-technical
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Mar 28, 2019 |
Arm Yourself With Specific Knowledge
06:20
https://traffic.libsyn.com/secure/naval/Naval-Ep13.mp3?dest-id=1103966
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Arm yourself with specific knowledge. It can't be trained but it can be found by pursuing your genuine curiosity. • Arm yourself with specific knowledge 0:00 • Specific knowledge can't be trained 1:47 • Specific knowledge is found by pursuing your curiosity 2:34 • Building specific knowledge will feel like play to you 3:53 Transcript: http://nav.al/specific-knowledge
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Mar 25, 2019 |
Partner With Rational Optimists
05:25
https://traffic.libsyn.com/secure/naval/Naval-Ep12.mp3?dest-id=1103966
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Don't partner with cynics and pessimists. Their beliefs are self-fulfilling. • Don't partner with pessimists 0:00 • Partner with rational optimists 1:20 • We're descended from pessimists 2:28 • BOCTAOE 4:13 Transcript: http://nav.al/rational-optimists
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Mar 22, 2019 |
Pick Partners With Intelligence, Energy and Integrity
04:44
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Picking partners with high intelligence, energy and integrity is the three-part checklist that you can't compromise on. • Pick business partners with high intelligence, energy and integrity 0:00 • Motivation of the people you work with has to come intrinsically 1:18 • Integrity is what someone does, despite what they say they do 2:18 Transcript: http://nav.al/intelligence-energy-integrity
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Mar 22, 2019 |
Play Long-term Games With Long-term People
06:02
https://traffic.libsyn.com/secure/naval/Naval-Ep10.mp3?dest-id=1103966
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Pick an industry where you can play long-term games with long-term people. All returns in life come from compound interest over many turns of the game. • Play long-term games with long-term people 0:00 • When you switch industries, you're starting over from scratch 2:21 • Long-term players make each other rich 4:02 • Returns come from compound interest in iterated games 4:49 Transcript: http://nav.al/long-term
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Mar 19, 2019 |
The Internet Has Massively Broadened Career Possibilities
04:40
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The Internet has massively broadened the possible space of careers, by allowing you to scale any niche obsession. • The Internet has massively broadened the possible space of careers 0:00 • The Internet allows you to scale any niche obsession 1:22 • Escape competition through authenticity 3:33 Transcript: http://nav.al/possible-careers
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Mar 19, 2019 |
Give Society What It Doesn't Know How to Get
02:44
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Society will pay you for creating what it wants, but doesn’t know how to get, and delivering it at scale. • Give society what it wants, but doesn't know how to get—at scale 0:00 • Figure out what product you can provide and then figure out how to scale it 0:57 Transcript: http://nav.al/product-scale
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Mar 14, 2019 |
Live Below Your Means for Freedom
02:23
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People living far below their means enjoy a freedom that people busy upgrading their lifestyles just can't fathom. • People living below their means have freedom 0:00 • The most dangerous things are heroin and a monthly salary 0:38 • Ideally, you'll make your money in discrete lumps 1:17 Transcript: http://nav.al/salary-freedom
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Mar 11, 2019 |
You Won't Get Rich Renting Out Your Time
04:40
https://traffic.libsyn.com/secure/naval/Naval-Ep6.mp3?dest-id=1103966
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You won't get rich renting out your time, because you can't earn non-linearly. • You won't get rich renting out your time 0:00 • Renting out your time means you're essentially replaceable 1:23 • You must own equity to gain your financial freedom 2:17 • You want a career where your inputs don't match your outputs 2:41 Transcript: http://nav.al/renting-time
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Mar 08, 2019 |
Make Luck Your Destiny
04:36
https://traffic.libsyn.com/secure/naval/Naval-Ep5.mp3?dest-id=1103966
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Build your character in a way so luck becomes deterministic. • Build your character so luck becomes your destiny 0:00 • Build your character so opportunity finds you 1:12 • You have to be a little eccentric to be out on the frontier by yourself 2:39 Transcript: http://nav.al/luck-destiny
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Mar 07, 2019 |
Making Money Isn't About Luck
05:20
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Making money isn't about luck. It's about becoming the kind of person who makes money. • Making money isn't about luck 0:00 • Blind luck 0:46 • Luck from hustling 0:55 • Luck from preparation 1:35 • Luck from your unique character 1:51 • In 1,000 parallel universes, you want to be wealthy in 999 of them 2:54 • Wealth stacks up one chip at a time, not all at once 4:11 Transcript: http://nav.al/money-luck
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Mar 06, 2019 |
Free Markets Are Intrinsic to Humans
04:09
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We're the only animals who cooperate across genetic boundaries, because we can track credits and debits in voluntary exchanges. • Free markets are intrinsic to the human species 0:00 • Too many takers and not enough makers will plunge a society into ruin 1:48 Transcript: http://nav.al/capitalism-intrinsic
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Mar 06, 2019 |
Make Abundance for the World
03:24
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Wealth isn't about taking something from somebody else—it's about creating abundance for the world. • Ethical wealth creation makes abundance for the world 0:00 • Everyone can be wealthy 1:28 Transcript: http://nav.al/ethical-wealth
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Mar 05, 2019 |
Seek Wealth, Not Money or Status
06:07
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The difference between wealth, money and status. • Wealth is assets that earn while you sleep 0:56 • Money is how we transfer wealth 2:28 • Status is your rank in the social hierarchy 3:08 Transcript: https://nav.al/seek-wealth This is the first interview between Naval and Nivi on How to Get Rich. These interviews are based on Naval's tweetstorm at https://twitter.com/naval/status/1002103360646823936.
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Mar 05, 2019 |