Innovation Requires Decentralization and a Frontier

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Innovation Requires Decentralization and a Frontier

FromNaval

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Length:

3 minutes

Released:

Nov 24, 2021

Format:

Podcast episode

Description

Transcript: http://nav.al/decentralization

Released:

Nov 24, 2021

Format:

Podcast episode

Titles in the series (100)

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

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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
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
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
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
Partner With Rational Optimists: Don't partner with cynics and pessimists. Their beliefs are self-fulfilling. 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
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
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
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
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
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
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
Make Luck Your Destiny: Build your character in a way so luck becomes deterministic. 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
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
Compounding Relationships Make Life Easier: Life gets a lot easier when you know someone’s got your back. 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
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
Embrace Accountability to Get Leverage: Embrace accountability. Society will reward you with leverage. 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
Productize Yourself: Figure out what you're uniquely good at and apply as much leverage as possible. by Naval
2 min listen
There's No Actual Skill Called Business: There's no actual skill called business. Avoid business schools and magazines. by Naval
6 min listen
Eventually You Will Get What You Deserve: Apply specific knowledge with leverage and eventually you will get what you deserve. by Naval
4 min listen
Net Present Value: What Future Income Is Worth Today: Calculate what future income is worth today by applying a discount to its future value. by Naval
1 min listen
Reject Most Advice: Most advice is people giving you their winning lottery ticket numbers. by Naval
3 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
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
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
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

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Innovation Requires Decentralization and a Frontier

Innovation Requires Decentralization and a Frontier

Description

Titles in the series (100)

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