I had never heard of Naval Ravikant. Suddenly “The Almanack of Naval Ravikant: A Guide to Wealth and Happiness” kept popping up on my radar. When the universe calls, you listen.
Read the book
The Almanack of Naval Ravikant is an excellent book that is full of wisdom. In this blog, I will cover topics at random (from my own filter bubble). My advice is to buy the book and read it (maybe read it a few times).
Here it goes:
- Wealth is a skill set.
- Seek wealth, not money or status.
- Focus on specific knowledge. Specific knowledge is the knowledge you cannot be trained for. It cannot be outsourced or automated. Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.
- Fortunes require leverage. Business leverage comes from capital, people, and products.
- Write books and blogs and record videos and podcasts if you can’t code. The new generation’s fortunes are all made through code or media. Joe Rogan is making $50 million to $100 million a year from his podcast.
- There is no skill called “business.” Avoid business magazines and business classes.
- Intentions don’t matter. Actions do. That’s why being ethical is hard.
- Embrace accountability and take business risks under your own name. Society will reward you with responsibility, equity, and leverage. Accountability is a double-edged thing. It allows you to take credit when things go well and to bear the brunt of failure when things go badly. Skin in the game (he is a fan of Taleb too).
- Inspiration is perishable — act on it immediately
- In 1,000 parallel universes, you want to be wealthy in 999 of them.
- Patience. Immediate doesn’t work.
- People are oddly consistent. Karma is just you, repeating your patterns, virtues, and flaws until you finally get what you deserve. Always pay it forward. And don’t keep count. Karma management.
- If you want to get rich over your life in a deterministically predictable way, stay on the bleeding edge of trends and study technology, design, and art — become really good at…