This post is part of the 📖 The Almanack of Naval Ravikant series.


Today, I am reading Find a Position of Leverage section of the Wealth: How to get rich without getting lucky chapter from the book, The Almanack of Naval Ravikant: A Guide to Wealth and Happiness written by Author, Jack Butcher.

TL;DR! 💬

Getting rich is not just about luck; happiness is not just a trait we are born with. These aspirations may seem out of reach, but building wealth and being happy are skills we can learn.

So what are these skills, and how do we learn them? What are the principles that should guide our efforts? What does progress really look like?

The Book The Almanack of Naval Ravikant: A Guide to Wealth and Happiness is a collection of Naval’s wisdom and experience from the last ten years, shared as a curation of his most insightful interviews and poignant reflections.


Yesterday, I read Take on Accountability section from the Wealth: How to get rich without getting lucky chapter.

Part I

Wealth: How to get rich without getting lucky

Find a Position of Leverage

The more you’re going to do it for yourself. You’re going to do it in a way you’re good at, and you’re going to stick with it. The people around you will see the quality of your work is higher.

If your curiosity ever leads you to a place where society eventually wants to go, you’ll get paid exceptionally well.

Think about what product or service society wants but does not yet know how to get. You want to become the person who delivers it and delivers it at scale. That is really the challenge of how to make money.

When it is time to move on the opportunity, you can do so with leverage—the maximum leverage possible. 

There are three broad classes of leverage:

Forget rich versus poor, white-collar versus blue. It’s now leveraged versus un-leveraged.

One form of leverage is labour — other humans working for you. It is the oldest form of leverage, and actually not a great one in the modern world.

Money is good as a form of leverage. It means every time you make a decision; you multiply it with money. Capital is a trickier form of leverage to use.

The final form of leverage is brand new—the most democratic form. It is “products with no marginal cost of replication.” This includes books, media, movies, and code.

Code is probably the most powerful form of permissionless leverage.

Forty hour work weeks are a relic of the Industrial Age. Knowledge workers function like athletes—train and sprint, then rest and reassess.

Learn to sell, learn to build. If you can do both, you will be unstoppable.

Key Takeaways

  • Follow your intellectual curiosity more than whatever is “hot” right now.

  • You want to know how to do something other people don’t know how to do at the time period when those skills are in demand.

  • Code is probably the most powerful form of permissionless leverage.

  • Earn with your mind, not your time.

Summary

  • We live in an age of infinite leverage, and the economic rewards for genuine intellectual curiosity have never been higher. Following your genuine intellectual curiosity is a better foundation for a career than following whatever is making money right now.

That’s it for today. Tomorrow, we will continue to read the Find a Position of Leverage section.

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The Almanack of Naval Ravikant

Author(s): Eric Jorgenson

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Part 6 of 33 in the 📖 The Almanack of Naval Ravikant book series.

Series Start | The Almanack of Naval Ravikant: A Guide to Wealth and Happiness - Day 5 | The Almanack of Naval Ravikant: A Guide to Wealth and Happiness - Day 7



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