Naval
Claim Ownership

Naval

Author: Naval

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Naval on wealth creation. On Twitter at @naval.
47 Episodes
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Life gets a lot easier when you know someone’s got your back. • Compounding relationships make life easier 0:00 • It’s better to have a few compounding relationships than many shallow ones 1:11 • It takes just as much effort to create a small business as a large one 1:40 Transcript: http://nav.al/relationships
Improve your leverage in negotiations by turning short-term relationships into long-term ones. • Pareto optimal solutions require a trade-off to improve any criterion 0:00 • Negotiations are won by whoever cares less 0:44 • Convert single-move games to multi-move games 1:54 Transcript: http://nav.al/pareto-optimal
People who can’t communicate can cooperate by anticipating the other person’s actions. • Use social norms to cooperate when you can’t communicate 0:00 • You can find Schelling points in business, art and politics 1:14 Transcript: http://nav.al/schelling-point
Kelly Criterion: Avoid Ruin

Kelly Criterion: Avoid Ruin

2019-07-1000:01:421

Don't ruin your reputation or get wiped to zero. • Don't bet everything on one big gamble 0:00 • Ruining your reputation is the same as getting wiped to zero 0:54 Transcript: http://nav.al/kelly-criterion    
If you think and act like an owner, it’s only a matter of time until you become an owner. • A principal is an owner; an agent is an employee 0:00 • A principal’s incentives are different than an agent’s incentives 1:08 • If you can work on incentives, don't work on anything else 2:15 • When you do deals, it’s better to have the same incentives 3:15 • If you’re an employee, your most important job is to think like a principal 4:05 • Deal with small firms to avoid the principal-agent problem 5:29 Transcript: http://nav.al/principal-agent
Envy can give you a powerful boost, or it can eat you alive if you let it follow you. • Suffering through the wrong thing can motivate you to find the right thing 0:00 • Being a lawyer was not what I was meant to do 1:14 • Envy can be useful or it can eat you alive 2:28 Transcript: http://nav.al/envy
If you cut fair deals, you will get paid in the long run. • Ethics isn’t something you study; it’s something you do 0:00 • Trust leads to compounding relationships 0:51 • Being ethical attracts other long-term players 1:19 • Being ethical is long-term greedy 1:58 • If you cut fair deals, you will get paid in the long run 2:40 Transcript: http://nav.al/ethics  
The goal is that we are eventually wealthy and working for ourselves. • This advice is for anybody who wants to be entrepreneurial 0:00 • Middle age can be the most fruitful time to apply this advice 0:48 • Look up the value chain to find leverage 1:58 • You will do better in a small organization 2:43 • The goal is that we are all working for ourselves 3:25 Transcript: http://nav.al/target-audience  
Misunderstanding accountability, and other mistakes on the path to creating wealth. • Accountability means letting people criticize you 0:00 • The most interesting parts should be the ones you disagree with 1:06 • Get the free leverage that's available in tech 1:53 • Not doing things because other people can't do them is living in denial 2:21 • Realize your philanthropic vision by running a business 2:54 Transcript: http://nav.al/common-mistakes
How to Get Rich: Every Episode

How to Get Rich: Every Episode

2019-06-0202:48:25100

This giant episode collects every interview we've done on “How to Get Rich.” Transcript: http://nav.al/how-to-get-rich • Seek Wealth, Not Money or Status 1:30 • Make Abundance for the World 6:40 • Free Markets Are Intrinsic to Humans 10:21 • Making Money Isn’t About Luck 14:19 • Make Luck Your Destiny 19:25 • You Won’t Get Rich Renting Out Your Time 24:00 • Live Below Your Means for Freedom 28:40 • Give Society What It Doesn’t Know How to Get 31:01 • The Internet Has Massively Broadened Career Possibilities 33:44 • Play Long-term Games With Long-term People 38:23 • Pick Partners With Intelligence, Energy and Integrity 44:24 • Partner With Rational Optimists 49:09 • Arm Yourself With Specific Knowledge 54:34 • Specific Knowledge Is Highly Creative or Technical 1:00:53 • Learn to Sell, Learn to Build 1:06:24 • Read What You Love Until You Love to Read 1:10:59 • The Foundations Are Math and Logic 1:12:00 • There’s No Actual Skill Called “Business” 1:16:48 • Embrace Accountability to Get Leverage 1:20:06 • Take Accountability to Earn Equity 1:25:37 • Labor and Capital Are Old Leverage 1:30:06 • Product and Media are New Leverage 1:35:01 • Product Leverage is Egalitarian 1:39:42 • Pick a Business Model With Leverage 1:44:56 • Example: From Laborer to Entrepreneur 1:50:51 • Judgment Is the Decisive Skill 2:01:15 • Set an Aspirational Hourly Rate 2:07:41 • Work As Hard As You Can 2:11:26 • Be Too Busy to “Do Coffee” 2:16:34 • Keep Redefining What You Do 2:20:38 • Escape Competition Through Authenticity 2:22:41 • Play Stupid Games, Win Stupid Prizes 2:28:17 • Eventually You Will Get What You Deserve 2:30:53 • Reject Most Advice 2:35:00 • A Calm Mind, a Fit Body, a House Full of Love 2:37:55 • There Are No Get Rich Quick Schemes 2:42:02 • Productize Yourself 2:46:42  
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Comments (12)

Lucien Grondin

Death is the only escape from this, so I may as well go all the way. Après moi, le déluge.

Jul 10th
Reply

Tumwine

This is an awesome take on benefits of long term thinking.

Jul 7th
Reply

Ankur Motwani

This is an amazing person. The content is great and worth your time. The guy doesn't take up your time, he is on point with every bit of information and presents it in a concise but complete manner. I Highly recommend this podcast to anyone interested in business, investing, finance, science and even philosophy.

Jun 13th
Reply

Ketan Ramteke

MEGASODE!!!!

Jun 10th
Reply

JJ Todilinus

and super pleased to hear you are Indian. I remember Charles Koch who everyone demonizes saying once "What keeps me up at night is the thought of how many secrets of the universe have gone undiscovered because the child in India couldn't go to school."

Jun 10th
Reply

JJ Todilinus

REALLY GOOD. And so important for the 2nd world, the people that are trying to break through but don't have this knowledge. Stop making excuses. I have no idea if he explains Rene Girard's mimetics but that is another issue in resentment politics.

Jun 10th
Reply

Justin Hayes

jre brought me here

Jun 7th
Reply

Ares

Interesting

May 26th
Reply

Zain Imran

Best podcast ever. Thank you.

May 22nd
Reply

Willllllllway

What a great podcast. Thank you!

May 15th
Reply

Muma David Bwalya

This is amazing content! Wow!

May 13th
Reply

William Krut

this is a great first principles run down of the basics. refreshing for the soul

Mar 24th
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