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THE ANSWER'S NO with Naval Ravikant | Lyrics
THE ANSWER'S NO by Akira The Don, Naval Ravikant
Read “THE ANSWER'S NO” by Akira The Don & Naval Ravikant on Genius
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Winning Lottery Ticket Number (ft.Naval Ravikant)
(Anybody can win the lottery)
(Know what I'm saying?)
(My motto is, if you wanna win the lottery)
(You have to make the money to buy a ticket)
Avoid people who got rich quickly
They're just giving you
Their winning lottery ticket numbers
Their winning lottery ticket numbers
This is generally true of advice anyway
Which is, it’s back to Scott Adams' "systems, not goals"
If you ask a specific person
What worked for them
Very often, it's just like they reading out
The exact set of things that worked for them
Which may not be applicable for you
They're just reading you
Their winning lottery ticket numbers
It's a little glib
There is something to be learned from them
Read More
(Know what I'm saying?)
(My motto is, if you wanna win the lottery)
(You have to make the money to buy a ticket)
Avoid people who got rich quickly
They're just giving you
Their winning lottery ticket numbers
Their winning lottery ticket numbers
This is generally true of advice anyway
Which is, it’s back to Scott Adams' "systems, not goals"
If you ask a specific person
What worked for them
Very often, it's just like they reading out
The exact set of things that worked for them
Which may not be applicable for you
They're just reading you
Their winning lottery ticket numbers
It's a little glib
There is something to be learned from them
Take Accountability (ft. Naval Ravikant)
Judgment takes experience
Takes a lotta time to build up
You have to put yourself in positions
Where you can exercise judgment
That'll come from taking on accountability
Accountability
Leverage is something that
Society gives you much later
And once you've demonstrated your judgment
Unless you learn to code
Or you become good with media
These are permissionless leverage
Leverage comes later
Judgment comes later
Read More
Takes a lotta time to build up
You have to put yourself in positions
Where you can exercise judgment
That'll come from taking on accountability
Accountability
Leverage is something that
Society gives you much later
And once you've demonstrated your judgment
Unless you learn to code
Or you become good with media
These are permissionless leverage
Leverage comes later
Judgment comes later
Morning Coffee (ft. Naval Ravikant)
Price discrimination
Is an important thing to understand
What it means
Is that you can charge people
Different things based on
Their propensity to pay
You're not allowed charge
Different people different things
Just because you don't like 'em
You have to offer them a little something extra
But it has to be something that rich people care about
Business class seats will routinely cost
Five or 10 times what a economy class seat does
But it probably costs the airline
Just two, maybe three X - to provide that
It's just the rich person is more willing to pay
So you have to give them
The little things that they need extra
Read More
Is an important thing to understand
What it means
Is that you can charge people
Different things based on
Their propensity to pay
You're not allowed charge
Different people different things
Just because you don't like 'em
You have to offer them a little something extra
But it has to be something that rich people care about
Business class seats will routinely cost
Five or 10 times what a economy class seat does
But it probably costs the airline
Just two, maybe three X - to provide that
It's just the rich person is more willing to pay
So you have to give them
The little things that they need extra
Compound Interest (ft. Naval Ravikant)
(I’m just a compound interest program)
Relationships are a good example
Of compound interest
Once you've been in a good relationship
With somebody for a while
Whether it's business or it's romantic
Life gets a lot easier
Because you know that person's got your back
You don't have to keep questioning
If I'm doing a deal
With someone that I've dealt with for 20 years
And I trust them and they trust me
We don't have to read the legal contracts
Maybe we don't even need to create legal contracts
Maybe we can actually do it on handshakes
That kind of trust makes it
Read More
Relationships are a good example
Of compound interest
Once you've been in a good relationship
With somebody for a while
Whether it's business or it's romantic
Life gets a lot easier
Because you know that person's got your back
You don't have to keep questioning
If I'm doing a deal
With someone that I've dealt with for 20 years
And I trust them and they trust me
We don't have to read the legal contracts
Maybe we don't even need to create legal contracts
Maybe we can actually do it on handshakes
That kind of trust makes it
The Principal Agent Problem (ft. Naval Ravikant)
So, mental models are all the rage
Everyone's trying to become smarter
By adopting mental models
I think mental models are interesting
But I don't think explicitly
In terms of a mental-model checklist
That's just not how I think Instead
I tend to focus on the few lessons
That I've learned in life over and over
That I think are incredibly important
And seem to apply almost universally
One that keeps coming up is
The principal-agent problem
[Chorus]
The principal agent problem
(Say, say, say what?)
The principal agent problem
(Say, say, say what?)
Read More
Everyone's trying to become smarter
By adopting mental models
I think mental models are interesting
But I don't think explicitly
In terms of a mental-model checklist
That's just not how I think Instead
I tend to focus on the few lessons
That I've learned in life over and over
That I think are incredibly important
And seem to apply almost universally
One that keeps coming up is
The principal-agent problem
[Chorus]
The principal agent problem
(Say, say, say what?)
The principal agent problem
(Say, say, say what?)
You Want To Be Ethical (ft. Naval Ravikant)
Ethics is not necessarily something you study
It's something you think about
And it's something you do
Every one of us has a personal moral code
And where you got that moral code from
Is different for everybody
It's not like I can point you to a textbook
Sure, I could point you some Roman and Greeks text
But that's not gonna suddenly make you ethical
There's the golden rule, right?
Do unto others as you would have
Them do unto you
Or there's Nassim Taleb's silver rule
Don't do unto others
What you don't want them doing unto you
Once you've been in business long enough
You will realize how much of business is about trust
And it's about trust because you wanna compound interest
You wanna be able to work for long periods of time
With trustworthy people
Read More
It's something you think about
And it's something you do
Every one of us has a personal moral code
And where you got that moral code from
Is different for everybody
It's not like I can point you to a textbook
Sure, I could point you some Roman and Greeks text
But that's not gonna suddenly make you ethical
There's the golden rule, right?
Do unto others as you would have
Them do unto you
Or there's Nassim Taleb's silver rule
Don't do unto others
What you don't want them doing unto you
Once you've been in business long enough
You will realize how much of business is about trust
And it's about trust because you wanna compound interest
You wanna be able to work for long periods of time
With trustworthy people
Find Three Hobbies (ft. Naval Ravikant)
You wanna figure out what you're uniquely good at
Or what you uniquely are
And apply as much leverage as possible
So making money isn't even something you do
It's not a skill
It's who you are stamped out a million times
Making money should be a function
Of your identity and what you like to do
Find three hobbies
One that makes you money
One that makes you fit
And one that makes you smarter
[Chorus]
Find three hobbies
One that makes you money
One that makes fit
Read More
Or what you uniquely are
And apply as much leverage as possible
So making money isn't even something you do
It's not a skill
It's who you are stamped out a million times
Making money should be a function
Of your identity and what you like to do
Find three hobbies
One that makes you money
One that makes you fit
And one that makes you smarter
[Chorus]
Find three hobbies
One that makes you money
One that makes fit