Some of the things taught in business school are just anecdotes (case studies). They’re trying to help you pattern match by throwing lots of data points at you, but the reality is, you will never understand them fully until you’re actually in that position yourself. Doing is faster than watching, so you’re going to learn a lot more about running a business by operating your own.The number of ‘doing’ iterations drives the learning curve. the more iterations you can have, the more shots on goal you can have, the faster you’re going to learn. It’s not just about the hours put in.

There’s No Actual Skill Called ‘Business’

You should be able to pick up any book in the library and read it.Start off just reading wherever you are and then keep building up from there until reading becomes a habit.Take your natural path and just read the things that interest you until you kind of understand them.it is important that you read foundational things, they are the original books in a given field that are very scientific in their nature.Also, make sure that you’re building a frame of understanding because you’re putting together a foundation for skyscrapers, and you’re not just memorizing things.

Read What You Love Until You Love to Read

If you can do both, you will be unstoppable.That’s when you get true superpowers. That’s when you get people who can create entire industries.A living example is Elon Musk. He may not necessarily be building the rockets himself, but he understands enough that he actually makes technical contributions and he’s not running around making claims that he doesn’t think he can’t eventually deliver. People who understand the underlying product and how to build it and can sell it, are catnip to investors, they can break down walls if they have enough energy, and can get almost anything done.

Learn to Sell, Learn to Build

And doing something new the first time is painful because you’re wandering into an uncertain territory and high odds are that you will fail. So you just have to get very, very comfortable with frequent small failures.Nassim Taleb made his fortune, his wealth by being a trader who basically relied upon black swans, by losing little bits of money every day then once in a blue moon he would make a lot.We’re evolved for small victories all the time but that becomes very expensive.Entrepreneurs bleed every day they’re constantly losing, but when they win they win big.

Be willing to bleed a little every day, you may win big later.

Embrace accountability and take business risks under your own name. Society will reward you with responsibility, equity, and leverage.if you look at a Kanye or Elon or anyone like that, these people can get rich just off their name.A well-functioning team has clear accountability for each position.It is really important because when something succeeds or fails if it fails, everybody points fingers at each other, and if it succeeds, everybody steps forward to take credit.When you put your name out there, you take a risk with certain things. You also get to reap the rewards and benefits.

Embrace Accountability to Get Leverage

If you understand them, then you have the basis for understanding the scientific method. Once you understand the scientific method, you can understand how to separate truth from falsehood in other fields and things you’re reading.It’s better to go through a book really slowly and struggle and stumble and rewind than it is to fly through it quickly.To lay a foundation for learning, you need two things. Persuasion and programming.If you’re good with computers, good at basic mathematics, good at writing, good at speaking, and if you like reading, you’re set for life.

The Foundations Are Math and Logic

When you’re negotiating with other people, ultimately if someone else is making a decision about how to compensate you, that decision will be based on how replaceable you are. If you have high accountability, that makes you less replaceable.If you look at the hierarchy of capital in a company, the employees get paid first. The equity holders get paid last and take on greater risk but in exchange, they get the nearly unlimited upside.When every member of a team can take on accountability for their portion you get a well-functioning team.

Take Accountability to Earn Equity

It’s not the means of education or the means of learning are scarce, the means of learning are abundant. It’s the desire to learn that’s scarce.

Compilation of ideas from Naval Ravikant's tweetstorm on wealth creation in the modern era

NAVAL

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