How To Gain Wealth
~2 mins read
The Almanack of Naval Ravikant
Seek wealth, not money or status.
Wealth is having assets that earn while you sleep.
Money is how we transfer time and wealth.
Status is your place in the social hierarchy.
Ignore people playing status 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. Play long-term games with long-term people.
Play iterated games
Learn to sell. Learn to build. If you can do both, you will be unstoppable.
Arm yourself with specific knowledge, accountability, and leverage.
Specific knowledge is the result of pursuing your genuine curiosity
Embrace accountability, and take business risks under your name. Society will reward you with responsibility, equity, and leverage.
Fortunes need leverage. Business leverage comes from 3 things, capital, people, and products with no marginal cost of replication (code and media).
There is no skill called “business.” Avoid business magazines and business classes.
Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers.
Apply specific knowledge, with leverage, and you will get what you deserve.
If you want to live in the future, live in the freest place around. Because the innovators and creators will show up there.
An army of robots is available - it’s packed in data centers for heat and space efficiency. Use it.
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.