Sterling Terrell

smart ideas from books

Naval Ravikant, How To Get Rich

Naval Ravikant, How To Get Rich

Like many people, I stumbled across Naval Ravikant for the first time on Twitter.

Pinned to the top of the page is a tweet storm that has gone viral, How to Get Rich (without getting lucky).

I think the series resonates for two main reasons.

First, because the tweets are infused with timeless principles rather than glib or dated tactics.

Second, Ravikant simply has mountains of credibility on this topic. He is, after all, a serial entrepreneur and billionaire.

Even better, I discovered that Nava put out a podcast series of short episodes based on these original tweets.

I hope you enjoy them as much as I did:

1. Seek Wealth, Not Money or Status

2. Make Abundance for the World

3. Free Markets Are Intrinsic to Humans

4. Making Money Isn’t About Luck

5. Make Luck Your Destiny

6. You Won’t Get Rich Renting Out Your Time

7. Live Below Your Means for Freedom

8. Give Society What It Doesn’t Know How to Get

9. The Internet Has Massively Broadened Career Possibilities

10. Play Long-term Games With Long-term People

11. Pick Partners With Intelligence, Energy and Integrity

12. Partner With Rational Optimists

13. Arm Yourself With Specific Knowledge

14. Specific Knowledge Is Highly Creative or Technical

15. Learn to Sell, Learn to Build

16. Read What You Love Until You Love to Read

17. The Foundations Are Math and Logic

18. There’s No Actual Skill Called “Business”

19. Embrace Accountability to Get Leverage

20. Take Accountability to Earn Equity

21. Labor and Capital Are Old Leverage

22. Product and Media are New Leverage

23. Product Leverage is Egalitarian

24. Pick a Business Model With Leverage

25. Example: From Laborer to Entrepreneur

26. Judgment Is the Decisive Skill

27. Set an Aspirational Hourly Rate

28. Work As Hard As You Can

29. Be Too Busy to “Do Coffee”

30. Keep Redefining What You Do

31. Escape Competition Through Authenticity

32. Play Stupid Games, Win Stupid Prizes

33. Eventually You Will Get What You Deserve

34. Reject Most Advice

35. A Calm Mind, a Fit Body, a House Full of Love

36. There Are No Get Rich Quick Schemes

37. Productize Yourself


Money And Happiness

Money And Happiness

I guess the first thing we need to remember about money and happiness is that the former does not cause the latter.

Sure it can bring short-term delight. But that feeling will not last.

This is easily seen by thinking of a few of your friends who might not be rich but are always content and at peace. Now think of all the billionaires and celebrities who have committed suicide over the years.

If we can get past this fact that so many struggle to swallow, the finer point is this:

The direction of money in your life matters more than the state of money in your life.

A billionaire whose income is going down by 7% per year is an anxious wreck. And my income going up by 7% per year makes me elated.

Why is this the case?

Because direction always matters more than state.

It’s relative, you see.

Samuel Butler wrote, “Happiness and misery consist in a progression towards better or worse; it does not matter how high up or low down you are, it depends not on this, but on the direction in which you are tending.” This seems the key to understanding the relationship between money and happiness.

-Gretchen Rubin, The Happiness Project