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First Become King (ft. Naval Ravikant)
You have to absolutely and completely ignore
Business journalists and economists, academics
When they talk about private companies
I won't even name names
But like, when a famous economist rails on bitcoin
Or when a business journalist attacks
The latest company that's IPOing
It's complete nonsense
Those people have never built anything
They're professional critics
They don't know anything about making money
Those people have never built anything
They're professional critics
They don't know anything about making money
Those people have never built anything
They're professional critics
They don't know anything about making money
All they know is how to criticize and get page views
You are literally becoming dumber by reading them
Read More
Business journalists and economists, academics
When they talk about private companies
I won't even name names
But like, when a famous economist rails on bitcoin
Or when a business journalist attacks
The latest company that's IPOing
It's complete nonsense
Those people have never built anything
They're professional critics
They don't know anything about making money
Those people have never built anything
They're professional critics
They don't know anything about making money
Those people have never built anything
They're professional critics
They don't know anything about making money
All they know is how to criticize and get page views
You are literally becoming dumber by reading them
Get What You Deserve (ft. Naval Ravikant
Apply specific knowledge
With leverage and eventually
You will get what you deserve
Apply specific knowledge
With leverage and eventually
You will get what you deserve
This one is just a glib way
Of saying that it takes time
Time
It takes time
Even once you have all of these pieces in place
There is an indeterminate amount of time
That you're gonna have to put in
And if you're counting, you will run outta patience
Before it actually arrives
So you just have to make sure
That you give these things the proper time
Life is long
Charlie Munger had some line on this
Somebody asked him about making money
Read More
With leverage and eventually
You will get what you deserve
Apply specific knowledge
With leverage and eventually
You will get what you deserve
This one is just a glib way
Of saying that it takes time
Time
It takes time
Even once you have all of these pieces in place
There is an indeterminate amount of time
That you're gonna have to put in
And if you're counting, you will run outta patience
Before it actually arrives
So you just have to make sure
That you give these things the proper time
Life is long
Charlie Munger had some line on this
Somebody asked him about making money
Escape Competition Through Authenticity (ft. Naval Ravikant)
It's both a search and a recognition
Because sometimes when we search our egos
We wanna be something that we aren't
And our friends and family are better
At telling us actually who we are
Or looking back at what we've done
Is a better indicator of who we are
[Chorus]
Escape competition through authenticity
(Number one, competition is none)
Escape competition through authenticity
(Number one, competition is none)
Escape competition through authenticity
(Number one, competition is none)
The way to escape competition
Is to just be authentic to yourself
Read More
Because sometimes when we search our egos
We wanna be something that we aren't
And our friends and family are better
At telling us actually who we are
Or looking back at what we've done
Is a better indicator of who we are
[Chorus]
Escape competition through authenticity
(Number one, competition is none)
Escape competition through authenticity
(Number one, competition is none)
Escape competition through authenticity
(Number one, competition is none)
The way to escape competition
Is to just be authentic to yourself
Working For Yourself (ft. Naval Ravikant)
[Chorus]
The goal, long-term
If we are all wealthy
Is that we're all
Working for ourselves
And the people working for us
They're essentially robots
Robots
Robots
The goal, long-term
If we are all wealthy
Is that we're all
Working for ourselves
And the people working for us
They're essentially robots
Robots
Robots
And today, that's software robots
Read More
The goal, long-term
If we are all wealthy
Is that we're all
Working for ourselves
And the people working for us
They're essentially robots
Robots
Robots
The goal, long-term
If we are all wealthy
Is that we're all
Working for ourselves
And the people working for us
They're essentially robots
Robots
Robots
And today, that's software robots
You Will Need To Rent Your Time To Get Started (ft. Naval Ravikant)
One of the most common questions we get from people is
"How do I get the time to start investing in myself?
I have a job"
And I'll kick off the answer
With one of the tweets from the cutting room floor
Where you said
[Chorus]
You will need to rent your time to get started
You will need to rent your time to get started
This is only acceptable
When you are learning and saving
You will need to rent your time to get started
You're gonna have to work, starting out
Unless you happened to be born rich
In which case, you probably won't have the motivation
To make money in the first place
If you're gonna do the work
Join a business where apprenticeship matters
Warren Buffet went and tried to work for Benjamin Graham
Straight outta school
Read More
"How do I get the time to start investing in myself?
I have a job"
And I'll kick off the answer
With one of the tweets from the cutting room floor
Where you said
[Chorus]
You will need to rent your time to get started
You will need to rent your time to get started
This is only acceptable
When you are learning and saving
You will need to rent your time to get started
You're gonna have to work, starting out
Unless you happened to be born rich
In which case, you probably won't have the motivation
To make money in the first place
If you're gonna do the work
Join a business where apprenticeship matters
Warren Buffet went and tried to work for Benjamin Graham
Straight outta school
The Kelly Criterion (ft. Naval Ravikant)
The Kelly criterion is a
Very popularized mathematical formulation
Of a simple concept
And the simple concept is
[Chorus]
Don't risk everything
Stay outta jail
Don't risk everything
'Cause you could just lose everything
Don't risk everything
Avoid ruin
Don't risk everything
'Cause you could just lose everything
Don't bet everything on one big gamble
Just be very careful how much you bet each time
So you don't lose the whole kitty
The Kelly criterion mathematically formulates
If you're a gambler
Read More
Very popularized mathematical formulation
Of a simple concept
And the simple concept is
[Chorus]
Don't risk everything
Stay outta jail
Don't risk everything
'Cause you could just lose everything
Don't risk everything
Avoid ruin
Don't risk everything
'Cause you could just lose everything
Don't bet everything on one big gamble
Just be very careful how much you bet each time
So you don't lose the whole kitty
The Kelly criterion mathematically formulates
If you're a gambler
There Are No Get Rich Quick Schemes (ft. Naval Ravikant)
(Get rich quick was in the air)
There are no get-rich-quick schemes
That's just someone else getting rich off you
There are no get-rich-quick schemes
That's just someone else getting rich off you
This goes back to the world being an efficient place
If there's an easy way to get rich
It's already been exploited
There are a lotta people
Who will sell you ideas and schemes
On how to make money
But they're just always selling you
Some $ 79.95 course
Or some audiobook
Or some seminar
Which is fine everyone needs to eat
People need to make a living
They might actually have really good tips
Read More
There are no get-rich-quick schemes
That's just someone else getting rich off you
There are no get-rich-quick schemes
That's just someone else getting rich off you
This goes back to the world being an efficient place
If there's an easy way to get rich
It's already been exploited
There are a lotta people
Who will sell you ideas and schemes
On how to make money
But they're just always selling you
Some $ 79.95 course
Or some audiobook
Or some seminar
Which is fine everyone needs to eat
People need to make a living
They might actually have really good tips
A Calm Mind A Fit Body And A House Full Of Love (ft. Naval Ravikant)
You might want to ask yourself
Did I find what I was looking for?
The things that you really want in life
Yes, money will solve all your money problems
But it doesn't get ya everywhere
The first thing you'll realize
When you've made a bunch of money is
That you're still the same person
If you're happy, you're happy
If you're unhappy, you're unhappy
If you're calm and fulfilled and peaceful
You're still that same person
I know lots of very rich people
Who are extremely outta shape
I know lots of rich people
Who have really bad family lives
I know lots of rich people who are internally a mess
Read More
Did I find what I was looking for?
The things that you really want in life
Yes, money will solve all your money problems
But it doesn't get ya everywhere
The first thing you'll realize
When you've made a bunch of money is
That you're still the same person
If you're happy, you're happy
If you're unhappy, you're unhappy
If you're calm and fulfilled and peaceful
You're still that same person
I know lots of very rich people
Who are extremely outta shape
I know lots of rich people
Who have really bad family lives
I know lots of rich people who are internally a mess