How to Get Rich (without getting lucky):

Thread by Naval@naval · May 31, 2018 · 41 posts · 689 words · 3 min read

How to Get Rich (without getting lucky):
1/41View on X
Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.
2/41View on X
Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you.
3/41View on X
Ignore people playing status games. They gain status by attacking people playing wealth creation games.
4/41View on X
You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom.
5/41View on X
You will get rich by giving society what it wants but does not yet know how to get. At scale.
6/41View on X
Pick an industry where you can play long term games with long term people.
7/41View on X
The Internet has massively broadened the possible space of careers. Most people haven't figured this out yet.
8/41View on X
Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.
9/41View on X
Pick business partners with high intelligence, energy, and, above all, integrity.
10/41View on X
Don't partner with cynics and pessimists. Their beliefs are self-fulfilling.
11/41View on X
Learn to sell. Learn to build. If you can do both, you will be unstoppable.
12/41View on X
Arm yourself with specific knowledge, accountability, and leverage.
13/41View on X
Specific knowledge is knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you.
14/41View on X
Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.
15/41View on X
Building specific knowledge will feel like play to you but will look like work to others.
16/41View on X
When specific knowledge is taught, it’s through apprenticeships, not schools.
17/41View on X
Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.
18/41View on X
Embrace accountability, and take business risks under your own name. Society will reward you with responsibility, equity, and leverage.
19/41View on X
The most accountable people have singular, public, and risky brands: Oprah, Trump, Kanye, Elon.
20/41View on X
“Give me a lever long enough, and a place to stand, and I will move the earth.” - Archimedes
21/41View on X
Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).
22/41View on X
Capital means money. To raise money, apply your specific knowledge, with accountability, and show resulting good judgment.
23/41View on X
Labor means people working for you. It's the oldest and most fought-over form of leverage. Labor leverage will impress your parents, but don’t waste your life chasing it.
24/41View on X
Capital and labor are permissioned leverage. Everyone is chasing capital, but someone has to give it to you. Everyone is trying to lead, but someone has to follow you.
25/41View on X
Code and media are permissionless leverage. They're the leverage behind the newly rich. You can create software and media that works for you while you sleep.
26/41View on X
An army of robots is freely available - it's just packed in data centers for heat and space efficiency. Use it.
27/41View on X
If you can't code, write books and blogs, record videos and podcasts.
28/41View on X
Leverage is a force multiplier for your judgement.
29/41View on X
Judgement requires experience, but can be built faster by learning foundational skills.
30/41View on X
There is no skill called “business.” Avoid business magazines and business classes.
31/41View on X
Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers.
32/41View on X
Reading is faster than listening. Doing is faster than watching.
33/41View on X
You should be too busy to “do coffee," while still keeping an uncluttered calendar.
34/41View on X
Set and enforce an aspirational personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it.
35/41View on X
Work as hard as you can. Even though who you work with and what you work on are more important than how hard you work.
36/41View on X
Become the best in the world at what you do. Keep redefining what you do until this is true.
37/41View on X
There are no get rich quick schemes. That's just someone else getting rich off you.
38/41View on X
Apply specific knowledge, with leverage, and eventually you will get what you deserve.
39/41View on X
When you're finally wealthy, you'll realize that it wasn't what you were seeking in the first place. But that's for another day.
40/41View on X
https://x.com/naval/status/1107112712750821381
41/41View on X

Naval answered 16 questions

under this thread · top answer 3,050 likes

@yoyopapskies askedMost liked

Can you explain more deeply "Leverage is a force multiplier for your judgement."

Judgement is making decisions. Leverage magnifies the consequences of those decisions. Invest $100 of your money or $10,000 of someone else’s. Work on a project for 1 year or work with a team of 10 on that project for a year. Advise a friend or advise many via Twitter.

Naval@naval3,050 likesView on X

@devbasu asked

Thank you. This deserves to be printed on a poster and revisited often. Curious...did all of your tweets come to you in a stream of consciousness?

I’ve had the ideas for decades, and have articulated a few of these concepts before. But it all came together recently in a moment of inspiration.

Naval@naval2,973 likesView on X

@DrJustinbass asked

Excellent @naval Q: You said on @joerogan you would rather read 100 of the best books over & over than all the books in the world. Have you put together your best of the best 100 (more or less) book list anywhere? If not, will you post it here? Thank you on behalf of the world.

Read “The Beginning of Infinity” and “The Fabric of Reality” first. If you do it right, it should take a year or two. Then we can talk about the rest of the list.

Naval@naval2,686 likesView on X

How to Get Rich (without getting lucky):

Thread by Naval@naval · May 31, 2018 · 41 posts · 689 words · 3 min read

How to Get Rich (without getting lucky):
1/41View on X
Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.
2/41View on X
Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you.
3/41View on X
Ignore people playing status games. They gain status by attacking people playing wealth creation games.
4/41View on X
You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom.
5/41View on X
You will get rich by giving society what it wants but does not yet know how to get. At scale.
6/41View on X
Pick an industry where you can play long term games with long term people.
7/41View on X
The Internet has massively broadened the possible space of careers. Most people haven't figured this out yet.
8/41View on X
Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.
9/41View on X
Pick business partners with high intelligence, energy, and, above all, integrity.
10/41View on X
Don't partner with cynics and pessimists. Their beliefs are self-fulfilling.
11/41View on X
Learn to sell. Learn to build. If you can do both, you will be unstoppable.
12/41View on X
Arm yourself with specific knowledge, accountability, and leverage.
13/41View on X
Specific knowledge is knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you.
14/41View on X
Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.
15/41View on X
Building specific knowledge will feel like play to you but will look like work to others.
16/41View on X
When specific knowledge is taught, it’s through apprenticeships, not schools.
17/41View on X
Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.
18/41View on X
Embrace accountability, and take business risks under your own name. Society will reward you with responsibility, equity, and leverage.
19/41View on X
The most accountable people have singular, public, and risky brands: Oprah, Trump, Kanye, Elon.
20/41View on X
“Give me a lever long enough, and a place to stand, and I will move the earth.” - Archimedes
21/41View on X
Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).
22/41View on X
Capital means money. To raise money, apply your specific knowledge, with accountability, and show resulting good judgment.
23/41View on X
Labor means people working for you. It's the oldest and most fought-over form of leverage. Labor leverage will impress your parents, but don’t waste your life chasing it.
24/41View on X
Capital and labor are permissioned leverage. Everyone is chasing capital, but someone has to give it to you. Everyone is trying to lead, but someone has to follow you.
25/41View on X
Code and media are permissionless leverage. They're the leverage behind the newly rich. You can create software and media that works for you while you sleep.
26/41View on X
An army of robots is freely available - it's just packed in data centers for heat and space efficiency. Use it.
27/41View on X
If you can't code, write books and blogs, record videos and podcasts.
28/41View on X
Leverage is a force multiplier for your judgement.
29/41View on X
Judgement requires experience, but can be built faster by learning foundational skills.
30/41View on X
There is no skill called “business.” Avoid business magazines and business classes.
31/41View on X
Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers.
32/41View on X
Reading is faster than listening. Doing is faster than watching.
33/41View on X
You should be too busy to “do coffee," while still keeping an uncluttered calendar.
34/41View on X
Set and enforce an aspirational personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it.
35/41View on X
Work as hard as you can. Even though who you work with and what you work on are more important than how hard you work.
36/41View on X
Become the best in the world at what you do. Keep redefining what you do until this is true.
37/41View on X
There are no get rich quick schemes. That's just someone else getting rich off you.
38/41View on X
Apply specific knowledge, with leverage, and eventually you will get what you deserve.
39/41View on X
When you're finally wealthy, you'll realize that it wasn't what you were seeking in the first place. But that's for another day.
40/41View on X
https://x.com/naval/status/1107112712750821381
41/41View on X

Naval answered 16 questions

under this thread · top answer 3,050 likes

@yoyopapskies askedMost liked

Can you explain more deeply "Leverage is a force multiplier for your judgement."

Naval@naval3,050 likesView on X

@devbasu asked

Thank you. This deserves to be printed on a poster and revisited often. Curious...did all of your tweets come to you in a stream of consciousness?

I’ve had the ideas for decades, and have articulated a few of these concepts before. But it all came together recently in a moment of inspiration.

Naval@naval2,973 likesView on X

@DrJustinbass asked

Read “The Beginning of Infinity” and “The Fabric of Reality” first. If you do it right, it should take a year or two. Then we can talk about the rest of the list.

Naval@naval2,686 likesView on X