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How To Get Rich
The important piece of advice in the thread is You’re not going to get rich renting out your time. You must own equity – a piece of a business – to gain your financial freedom.
You can own other businesses (private or public stock) or you can create your own business, but either way, you need to own equity to become wealthy. E.g: Tim Ferriss created his own podcast and books and turned himself into a brand, and as a result, Tim is set for life.
A lot of the greatest inventors of our time just sit around reading and thinking just to make a few decisions a year
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The Ultimate Lifehack: Play Long Term Games
All effective self-help books can be boiled down to one lesson: play long-term games
“If you can adopt a long term mindset, you’re just going to have a much easier life”
Compound interest applies everywhere: Relationships, Money and Health
You want to find things in life that fe...
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Social Sciences ≠ Science
Social science does kind of lead you down the road to ignorance because it is about social. And anything social is about groupthink and group behavior and individuals can search for truth but groups search for consensus. The last place you’re going to find truth is in large group.
The natur...
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Everything In Life Is A Game
Life is filled with games: Get good grades game, Get a good job game, Get a good partner game.
These games are multiplayer and you’re competing with other people
There are also single-player games such as meditation
If there’s a game you’re winning at, but it’s making you miser...
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Thoughts on Crypto Stablecoins
Crypto stablecoins are cryptocurrencies that attempt to peg their market value to some external reference (like the US dollar).
There are 3 main risks with crypto stablecoins:
- Fraud risk: It’s said that each stablecoin is backed by a hard currency but there’s a chance that isn’t ...
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Books Recommended
- The Almanack of Naval Ravikant complied by Eric Jorgenson
- “Surely You’re Joking, Mr. Feynman”: by Richard P. Feynman
- “What Do You Care What Other People Think?” by Richard P. Feynman
- The Way to Love by Anthony de Mello
- Awareness by Anthony de Mello
- Sid...
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Anxiety & Meditation
Meditation had the biggest impact on Naval to reduce anxiety. Meditation for him is sitting there with yourself and letting your mind run crazy and then seeing what’s actually in your mind that your mind wants to tell you and having you listen to and resolve what is unresolved.
It should ca...
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Thoughts on Cryptocurrency
Cryptocurrencies are decentralized, you don’t need the violent power of a state to enforce the value of the currency, and you don’t need any middleman to complete a transaction
Crypto is like a Swiss bank account that no government can break into.
The pros of Bitcoin:...
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The Process of Self-Examination
3 Things that help
- Reading philosophy - Some of Naval’s favorite philosophers: Arthur Schopenhauer, Osho, Kapil Gupta, Anthony de Mello
- Being aware of your thoughts- Where is this coming from? Who is thi...
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Related collections
Other curated ideas on this topic:
Ignore Status Games, Own Equity
Ignore people playing status games. They gain status by attacking people playing wealth creation games.
You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom.
Build or Buy Equity in a Business
If you don’t own a piece of a business, you don’t have a path towards financial freedom.
It’s ownership versus wage work. If you are paid for renting out your time, even lawyers and doctors, you can make some money, but you’re not going to make the money that gives you financial freedom. Y...
Investing in Stocks
- It means investing in common stock, which is another way to describe business ownership or business equity.
- When you own equity (the value of the shares issued by a company) in a business, you are entitled to a share of the profit or losses generated by that company's operatin...
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