PN Deep Dive: Naval Ravikant: How to Get Rich, Episodes 6-20

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Live Below Your Means For Freedom (Listen) Episode 6

* “People who are living far below their means enjoy a freedom that people busy upgrading their lifestyle just can’t fathom” – Naval Ravikant

* Once you start making money, keep living like your old/poorer self

* When you upgrade your life as you make more money, you just stay in the “wage slave trap”

* Nassim Taleb has said – “The most dangerous things are heroin and a monthly salary”

* They’re both highly addictive

* One reason the very high marginal tax rates for the so-called wealthy are flawed:

* For many people, they toil/work extremely hard for decades, and then it finally pays off with a massive payday

* “Then of course Uncle Sam shows up, and basically says, ‘Hey, you know what, you just made a lot of money this year. Therefore, you’re rich. Therefore, you’re evil and you’ve got to hand it all over to us.’ So, it just destroys those kinds of creative risk-taking professions.” – Naval Ravikant

Give Society What it Doesn’t Know How to Get (Listen) | Episode 7

* Get rich by giving society what it doesn’t yet know how to get – at scale

* Money is like an IOU from society for something you did good in the past, that you can use in the future

* “Society always wants new things and if you want to be wealthy, figure out which one of those things you can provide for society that it does not yet know how to get, but it will want, that’s natural to you and within your capabilities. And then you have to figure out how to scale it.” – Naval Ravikant

* Creations start as just an act of creativity

* Then, for a little while, only rich people have it (like a chauffeur)

* Then it makes its way to everyone (like Uber)

* “Entrepreneurship is essentially an act of creating something new from scratch, predicting that society will want it, and then figuring out how to scale it and get it to everybody in a profitable and self-sustaining way.” – Naval Ravikant

The Internet Has Massively Broadened Career Possibilities (Listen) | Episode 8

* “The internet has massively broadened the possible space of careers. Most people haven’t figured this out yet.” – Naval Ravikant

* The internet connects everyone on the planet

* This means that you can find an audience for your product/service no matter how far away they are

* “The internet allows any niche obsession…from people who collect snakes to people who like to ride hot air balloons to people who like to sail around the world by themselves…whatever nice obsession you have, the internet allows you to scale.” – Naval Ravikant

* “If you want to reach 50,000 passionate people like you, there’s an audience out there for you”

* “Each person on Earth has different interests and obsessions, and it’s that diversity that becomes a creative superpower” – Naval Ravikant

* Before the internet – this didn’t really matter

* Your town/village didn’t necessarily need your unique creative skill

* But now – you can go out on the internet and find your audience and utilize that to buil