People living far below their means enjoy a freedom people busy upgrading their lifestyle can’t fathom.

You want to look for professions where the inputs and outputs are highly disconnected. You want to look for things that are leveraged.

﻿You want to end up specializing in being you.

Find three hobbies: one that makes you money, one that makes you fit, one that makes you smarter.

Intro 0:00 Seek Wealth, Not Money or Status 1:30  Make Abundance for the World 6:40  Free Markets Are Intrinsic to Humans 10:21  Making Money Isn’t About Luck 14:19  Make Luck Your Destiny 19:25  You Won’t Get Rich Renting Out Your Time 24:00  Live Below Your Means for Freedom 28:40  Give Society What It Doesn’t Know How to Get 31:01  The Internet Has Massively Broadened Career Possibilities 33:44  Play Long-term Games With Long-term People 38:23  Pick Partners With Intelligence, Energy and Integrity 44:24  Partner With Rational Optimists 49:09  Arm Yourself With Specific Knowledge 54:34  Specific Knowledge Is Highly Creative or Technical 1:00:53  Learn to Sell, Learn to Build 1:06:24  Read What You Love Until You Love to Read 1:10:59  The Foundations Are Math and Logic 1:12:00  There’s No Actual Skill Called “Business” 1:16:48  Embrace Accountability to Get Leverage 1:20:06  Take Accountability to Earn Equity 1:25:37  Labor and Capital Are Old Leverage 1:30:06  Product and Media are New Leverage 1:35:01  Product Leverage is Egalitarian 1:39:42  Pick a Business Model With Leverage 1:44:56  Example: From Laborer to Entrepreneur 1:50:51  Judgment Is the Decisive Skill 2:01:15  Set an Aspirational Hourly Rate 2:07:41  Work As Hard As You Can 2:11:26  Be Too Busy to “Do Coffee” 2:16:34  Keep Redefining What You Do 2:20:38  Escape Competition Through Authenticity 2:22:41  Play Stupid Games, Win Stupid Prizes 2:28:17  Eventually You Will Get What You Deserve 2:30:53  Reject Most Advice 2:35:00  A Calm Mind, a Fit Body, a House Full of Love 2:37:55  There Are No Get Rich Quick Schemes 2:42:02  Productize Yourself 2:46:42  Accountability Means Letting People Criticize You 2:48:55  We Should Eventually Be Working for Ourselves 2:55:33  Being Ethical Is Long-Term Greedy 2:56:58  Envy Can Be Useful, or It Can Eat You Alive 3:00:23  Principal-Agent Problem: Act Like an Owner 3:03:51  Kelly Criterion: Avoid Ruin 3:10:33  Schelling Point: Cooperating Without Communicating 3:12:03  Turn Short-Term Games Into Long-Term Games 3:13:55  Compounding Relationships Make Life Easier 3:16:36  Price Discrimination: Charge Some People More 3:19:04  Consumer Surplus: Getting More Than You Paid For 3:20:14  Net Present Value: What Future Income Is Worth Today 3:21:03  Externalities: Calculating the Hidden Costs of Products 3:22:05  Bonus Material: Finding Time to Invest in Yourself 3:23:47 Transcript: https://nav.al/rich

personaldevelopment

Personal Development

Intro 0:00

Seek Wealth, Not Money or Status 1:51

Make Abundance for the World 7:00

Free Markets Are Intrinsic to Humans 10:39

Making Money Isn’t About Luck 14:37

Make Luck Your Destiny 19:41

You Won’t Get Rich Renting Out Your Time 24:16

Live Below Your Means for Freedom 28:55

Give Society What It Doesn’t Know How to Get 31:15

The Internet Has Massively Broadened Career Possibilities 33:58

Play Long-term Games With Long-term People 38:36

Pick Partners With Intelligence, Energy and Integrity 44:36

Partner With Rational Optimists 49:20

Arm Yourself With Specific Knowledge 54:44

Specific Knowledge Is Highly Creative or Technical 1:01:04

Learn to Sell, Learn to Build 1:06:34

Read What You Love Until You Love to Read 1:12:09

The Foundations Are Math and Logic 1:16:57

There’s No Actual Skill Called “Business” 1:20:15

Embrace Accountability to Get Leverage 1:25:45

Take Accountability to Earn Equity 1:30:13

Labor and Capital Are Old Leverage 1:35:08

Product and Media are New Leverage 1:39:49

Product Leverage is Egalitarian 1:45:03

Pick a Business Model With Leverage 1:50:12

Example: From Laborer to Entrepreneur 1:55:57

Judgment Is the Decisive Skill 2:01:21

Set an Aspirational Hourly Rate 2:07:47

Work As Hard As You Can 2:11:31

Be Too Busy to “Do Coffee” 2:16:38

Keep Redefining What You Do 2:20:42

Escape Competition Through Authenticity 2:22:45

Play Stupid Games, Win Stupid Prizes 2:28:21

Eventually You Will Get What You Deserve 2:30:57

Reject Most Advice 2:35:04

A Calm Mind, a Fit Body, a House Full of Love 2:37:59

There Are No Get Rich Quick Schemes 2:42:05

Productize Yourself 2:46:46

Accountability Means Letting People Criticize You 2:48:40

We Should Eventually Be Working for Ourselves 2:52:17

Being Ethical Is Long-Term Greedy 2:56:42

Envy Can Be Useful, or It Can Eat You Alive 3:00:07

Principal-Agent Problem: Act Like an Owner 3:03:36

Kelly Criterion: Avoid Ruin 3:10:18

Schelling Point: Cooperating Without Communicating 3:11:59

Turn Short-Term Games Into Long-Term Games 3:13:39

Compounding Relationships Make Life Easier 3:16:20

Price Discrimination: Charge Some People More 3:18:49

Consumer Surplus: Getting More Than You Paid For 3:19:59

Net Present Value: What Future Income Is Worth Today 3:20:47

Externalities: Calculating the Hidden Costs of Products 3:21:49

Bonus Material: Finding Time to Invest in Yourself 3:23:31

Transcript: https://nav.al/rich

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The Only Prize - Day 172

UPGRADE YOUR SYSTEMS FOR LIVING