Gaurav Kumar's Key Ideas from The Almanack Of Naval Ravikant
by Eric Jorgenson

You will get rich by giving society what it wants but does not yet know how to get. At scale.

Pick an industry where you can play long term games with long term people.

The Internet has massively broadened the possible space of careers. Most people haven't figured this out yet.

Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.

Pick business partners with high intelligence, energy, and, above all, integrity.

Don't partner with cynics and pessimists. Their beliefs are self-fulfilling.

1. Learn to sell.
2. Learn to build.

If you can do both, you will be unstoppable.

Specific knowledge is knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you.

When specific knowledge is taught, it’s through apprenticeships, not schools.

Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.

Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).

When you're finally wealthy, you'll realize that it wasn't what you were seeking in the first place. But that's for another day.

Apply specific knowledge with leverage, and eventually you will get what you deserve.

There are no get rich quick schemes. That's just someone else getting rich off you.

Become the best in the world at what you do. Keep redefining what you do until this is true.

Work as hard as you can. Even though who you work with and what you work on are more important than how hard you work.

Set and enforce an aspirational personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it.

Reading is faster than listening. Doing is faster than watching.