Arpit Bansal's Key Ideas from The Almanack Of Naval Ravikant
by Eric Jorgenson

Find and build Specific Knowledge.

7. Figure out what you did as a kid or teenager almost effortlessly.

8. It's much more critical today to become an expert in a brand new field in 9 to 12 months than to have studied the "right" thing long ago. 

Foundations are super necessary.

Play Long term games with Long term people

9. Compound interest also happens in your reputation.

10. Intentions don't matter. Actions do. That's why being ethical is hard.

11. 99% OF EFFORT IS WASTED.

Build or Buy Equity

12. You want to own some equity.

Find a Position of Leverage

13. We live in an age of infinite leverage, and the economic rewards for genuine intellectual curiosity have never been higher.

14. PRODUCTS WITH NO MARGINAL COST OF REPLICATION.

15. The higher the creativity component of a profession, the more likely it is to have disconnected inputs and outputs.

16. Don't gamble everything on one go.

17. No one will value you more than you value yourself.

18. SO, STATUS IS A ZERO-SUM GAME.

19. You make three big decisions in your early life: where you live, who you're with, and what you do.

Figure Out

20. Figure out what you're good at, and start helping others with it. Give it away. Pay it forward. Karma works because people are consistent.

21. AN OLD BOSS ONCE WARNED: "YOU'LL NEVER BE RICH SINCE YOU'RE SMART, AND SOMEONE WILL ALWAYS OFFER YOU A JOB THAT'S JUST GOOD ENOUGH.

Find work that Feels like play

22. Purpose of life, what options you have:

A. Money-Passive income

B. Become a monk

C. Do something you love

23. For me, Freedom is my number one value.

How to Get lucky

24. Ways to get lucky:

A. Hope luck finds you.

B. Hustle 

C. Prepare the mind and strike when others miss.

D. Become the best at what you do.

BUILD YOUR CHARACTER IN A CERTAIN WAY SO THAT YOUR CHARACTER BECOMES YOUR DESTINY.

Be Patient

25. It never happens in the timescale you want or they want, but it does happen.

26. It's a reasonable step to go ahead and make money.

27. Buddhas was a prince. He started off rich; then he got to go off to the woods.

28. THEN, LET'S GET THEM ALL HAPPY.

BUILDING JUDGEMENT

Judgement

29. Hard work is overrated. How hard you work matters a lot less in the modern economy.

30. "Clear thinker" is a better compliment than "smart".

31. If you can't explain to a child, you don't know it.

Collect Mental Models

32. If you can't decide, the answer is NO.

Learning Happiness

Happiness requires presence

Happiness is more about peace than it is about joy

33. MAN'S TROUBLES ARISE BECAUSE HE CAN'T SIT IN A ROOM QUIETLY BY HIMSELF.

Find Happiness in Acceptance

34. pick one big desire in your life at any given time to give yourself purpose and motivation.

Mental Strength

35. The ability to singularly focus is related to losing yourself and being present, happy, and (ironically) more effective.

36. Impatience with actions, patience with results.

Choosing to Free Yourself

37. If you hurt other people because they have expectations of you, that's their problem.

38. DON'T SPEND YOUR TIME MAKING OTHER PEOPLE HAPPY.