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Compilation of ideas from Naval Ravikant's tweetstorm on wealth creation in the modern era
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What you'll learn
Why happiness is the ultimate goal
The importance of creating value
How to create wealth in the modern era
How to think long-term
Ideas from books, podcasts, videos & articles
The Almanack of Naval Ravikant
Influential people you will learn from
3 Top Key Ideas (90 total)
The oldest form of leverage is labor, which is people working for you. It is the worst form of leverage that you could possibly use.
You want the minimum amount of labor that allows you to use the other forms of leverage.
Capital is a powerful form of leverage. It can be converted to labor. It can be converted to other things. It scales very well.
If you have specific knowledge in a domain and if you’re accountable and you have a good name in that domain, then people are going to give you capital as a form of leverage that you can use to then go get more capital.
Product leverage is where the new fortunes are made
The new generation’s fortunes are all made through code or media. Joe Rogan making 50 to 100 million bucks a year from his podcast, Jeff Bezos and Mark Zuckerberg are all code-based leverage.
Add in Capital and you have a magical combination.
Coding, writing books, recording podcasts, tweeting, YouTubing, these kinds of things, are permissionless.
Also, the robot army is here, They’re inside the computers. All the circuits, It’s very cheaply available the bottleneck is just figuring out intelligent and interesting things to do to them.
It’s the nature of code and media output that the same product is accessible to everybody. Status goods are limited to a few people.
The best products tend to be at the center, at the sweet spot, the middle class, rather than being targeted at the upper class.
If you care about ethics in wealth creation, it is better to create your wealth using code and media as leverage because then those products are equally available to everybody.
Technology products and media products have such amazing scale economies that you always want to use the product that is used by the most people.
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