How to Get Rich
Naval
The Navall Podcast: How to Get Rich Without
Getting Lucky
This is a mega episode collecting all the episodes of the Navall podcast
on getting rich without getting lucky. The podcast is based on a tweet
storm by Naval Ravikant on how to get rich and includes all the tweets
from the storm, Q&A sessions, and bonus material. The overall sound
quality of the podcast improves after the first hour.
Naval Ravikant is a prolific tech investor and co-founder of AngelList
and Opinions. The podcast covers the difference between wealth,
money, and status, and why wealth is the ultimate goal as it buys
freedom. Money is how we transfer wealth and playing the money game
is essential for solving all money problems. The podcast also explores
the status game, which is a zero-sum game, and why it is best to avoid
playing it because it makes people angry and combative.
The Definition of Wealth
• Wealth is assets that earn while you sleep, such as businesses
and assets that can earn while you sleep.
• The purpose of wealth is to buy freedom.
• Money is how we transfer wealth.
• Wealth is not a zero-sum game, it is a positive-sum game.
The Money Game vs The Status Game
• The money game is essential for solving all money problems
and is a positive-sum game.
• The status game is a zero-sum game, which is a necessary evil
in our society.
• Playing the status game makes people angry and combative.
, • Journalists attacking rich people or the technology industry is
an example of playing the status game to up their own status at
the expense of others.
The Misconception of Money
There is a common belief that making money is evil, and this stems
from the idea that money is the root of all evil. However, this belief is
misguided. While it is true that there is theft and corruption in the
world, the history of civilization is built on the concept of wealth
creation. The world has seen an ongoing predator-prey relationship
between makers and takers, where some individuals create and build
things, and others come along and take advantage of their work. But
true wealth creation is not about taking from others. Instead, it is about
creating abundance through hard work, technology, and innovation.
The Importance of Wealth Creation
The engine of technology and science that is applied for the purpose of
creating abundance is what leads to true wealth creation. It is not a
finite concept, and everyone can be wealthy. In the first world, everyone
is richer than those who lived 200 years ago. This is due to the
inventions and innovations that have made our lives easier and more
prosperous. The thought experiment of imagining a world where
everyone has the knowledge of a good software and hardware engineer
is an excellent example of how society would change. In such a world,
robots and computers would do everything, and we would all be living
in massive abundance. Capitalism is not evil, but it gets hijacked by
improper pricing of goods, corruption, and monopolies. Capitalism is
intrinsic to the human species and is essential for the creation of wealth
and abundance.
The Dangers of Anti-Wealth Creation
Groups and political parties that overtly despise wealth creation end up
playing the zero-sum game of status, which destroys wealth creation
and drags everyone down to their level. Too many takers and not
enough makers lead to the collapse of society, as seen in communist
countries like Venezuela. Wealth creation must be ethical, rational,
moral, and social for the human race to progress. Society must respect
Naval
The Navall Podcast: How to Get Rich Without
Getting Lucky
This is a mega episode collecting all the episodes of the Navall podcast
on getting rich without getting lucky. The podcast is based on a tweet
storm by Naval Ravikant on how to get rich and includes all the tweets
from the storm, Q&A sessions, and bonus material. The overall sound
quality of the podcast improves after the first hour.
Naval Ravikant is a prolific tech investor and co-founder of AngelList
and Opinions. The podcast covers the difference between wealth,
money, and status, and why wealth is the ultimate goal as it buys
freedom. Money is how we transfer wealth and playing the money game
is essential for solving all money problems. The podcast also explores
the status game, which is a zero-sum game, and why it is best to avoid
playing it because it makes people angry and combative.
The Definition of Wealth
• Wealth is assets that earn while you sleep, such as businesses
and assets that can earn while you sleep.
• The purpose of wealth is to buy freedom.
• Money is how we transfer wealth.
• Wealth is not a zero-sum game, it is a positive-sum game.
The Money Game vs The Status Game
• The money game is essential for solving all money problems
and is a positive-sum game.
• The status game is a zero-sum game, which is a necessary evil
in our society.
• Playing the status game makes people angry and combative.
, • Journalists attacking rich people or the technology industry is
an example of playing the status game to up their own status at
the expense of others.
The Misconception of Money
There is a common belief that making money is evil, and this stems
from the idea that money is the root of all evil. However, this belief is
misguided. While it is true that there is theft and corruption in the
world, the history of civilization is built on the concept of wealth
creation. The world has seen an ongoing predator-prey relationship
between makers and takers, where some individuals create and build
things, and others come along and take advantage of their work. But
true wealth creation is not about taking from others. Instead, it is about
creating abundance through hard work, technology, and innovation.
The Importance of Wealth Creation
The engine of technology and science that is applied for the purpose of
creating abundance is what leads to true wealth creation. It is not a
finite concept, and everyone can be wealthy. In the first world, everyone
is richer than those who lived 200 years ago. This is due to the
inventions and innovations that have made our lives easier and more
prosperous. The thought experiment of imagining a world where
everyone has the knowledge of a good software and hardware engineer
is an excellent example of how society would change. In such a world,
robots and computers would do everything, and we would all be living
in massive abundance. Capitalism is not evil, but it gets hijacked by
improper pricing of goods, corruption, and monopolies. Capitalism is
intrinsic to the human species and is essential for the creation of wealth
and abundance.
The Dangers of Anti-Wealth Creation
Groups and political parties that overtly despise wealth creation end up
playing the zero-sum game of status, which destroys wealth creation
and drags everyone down to their level. Too many takers and not
enough makers lead to the collapse of society, as seen in communist
countries like Venezuela. Wealth creation must be ethical, rational,
moral, and social for the human race to progress. Society must respect
