Make Bold Guesses and Weed Out Failures

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Make Bold Guesses and Weed Out Failures

FromNaval

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Length:

2 minutes

Released:

May 5, 2021

Format:

Podcast episode

Description

Transcript http://nav.al/failures

Released:

May 5, 2021

Format:

Podcast episode

Titles in the series (100)

Naval on wealth and happiness. On Twitter at @naval.

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Make Luck Your Destiny: Build your character in a way so luck becomes deterministic. by Naval
5 min listen
Play Long-term Games With Long-term People: Pick an industry where you can play long-term games with long-term people. All returns in life come from compound interest over many turns of the game. by Naval
6 min listen
Escape Competition Through Authenticity: Competition can make you play the wrong game. No one can compete with you on being you. by Naval
6 min listen
Embrace Accountability to Get Leverage: Embrace accountability. Society will reward you with leverage. by Naval
5 min listen
Example: From Laborer to Real Estate Tech: The continuum from laborer to real estate tech company goes from low to high specific knowledge, accountability and leverage. by Naval
5 min listen
Pick Partners With Intelligence, Energy and Integrity: Picking partners with high intelligence, energy and integrity is the three-part checklist that you can't compromise on. by Naval
5 min listen
Making Money Isn't About Luck: Making money isn't about luck. It's about becoming the kind of person who makes money. by Naval
5 min listen
Specific Knowledge Is Highly Creative or Technical: Specific knowledge tends to be creative or technical. It's on the bleeding edge of technology, art and communication. by Naval
6 min listen
You Won't Get Rich Renting Out Your Time: You won't get rich renting out your time, because you can't earn non-linearly. by Naval
5 min listen
Live Below Your Means for Freedom: People living far below their means enjoy a freedom that people busy upgrading their lifestyles just can't fathom. by Naval
2 min listen
The Foundations Are Math and Logic: If you understand mathematics and logic, you have the basis for understanding everything else. by Naval
3 min listen
Product Leverage Is Egalitarian: Labor and capital are limited to the people who control those resources. But products reach global markets. by Naval
5 min listen
Learn to Sell, Learn to Build: Learn to sell. Learn to build. If you can do both, you will be unstoppable. by Naval
6 min listen
Read What You Love Until You Love to Read: You should be able to pick up any book in the library and read it. by Naval
5 min listen
Arm Yourself With Specific Knowledge: Arm yourself with specific knowledge. It can't be trained but it can be found by pursuing your genuine curiosity. by Naval
6 min listen
The Internet Has Massively Broadened Career Possibilities: The Internet has massively broadened the possible space of careers, by allowing you to scale any niche obsession. by Naval
5 min listen
Labor and Capital Are Old Leverage: Wealth requires leverage. Labor and capital are older forms of leverage that everyone is fighting over. by Naval
5 min listen
Product and Media Are New Leverage: Product and media are the leverage of new wealth. Create software and media that work for you while you sleep. by Naval
5 min listen
Pick a Business Model With Leverage: Ideally, you should pick a business model with network effects, low marginal costs and scale economies. by Naval
6 min listen
Judgment Is the Decisive Skill: Everything we've discussed so far has been setting you up to apply judgment. by Naval
7 min listen
Give Society What It Doesn't Know How to Get: Society will pay you for creating what it wants, but doesn’t know how to get, and delivering it at scale. by Naval
3 min listen
Partner With Rational Optimists: Don't partner with cynics and pessimists. Their beliefs are self-fulfilling. by Naval
5 min listen
Play Stupid Games, Win Stupid Prizes: Competition will blind you to greater games. You're one step away from a better market. by Naval
3 min listen
Take Accountability to Earn Equity: If you have high accountability, you're less replaceable and you can get a piece of the business. by Naval
5 min listen
Keep Redefining What You Do: Become the best in the world at what you do. Keep redefining what you do until this is true. by Naval
2 min listen
Set an Aspirational Hourly Rate: If outsourcing a task will cost less than your hourly rate, outsource it. by Naval
4 min listen
We Should Eventually Be Working for Ourselves: The goal is that we are eventually wealthy and working for ourselves. by Naval
4 min listen
Work As Hard As You Can: Work as hard as you can. Even though what you work on and who you work with are more important. by Naval
5 min listen
Schelling Point: Cooperating Without Communicating: People who can’t communicate can cooperate by anticipating the other person’s actions. by Naval
2 min listen
A Calm Mind, a Fit Body, a House Full of Love: When you're finally wealthy, you'll realize it wasn't what you were seeking in the first place. by Naval
4 min listen

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Make Bold Guesses and Weed Out Failures

Make Bold Guesses and Weed Out Failures

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Titles in the series (100)

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