Naval
Claim Ownership

Naval

Author: Naval

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Naval on wealth creation. On Twitter at @naval.
52 Episodes
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How to Angel Invest

How to Angel Invest

2019-11-1700:39:216

A preview of the Spearhead podcast, where we discuss angel investing. Subscribe to the podcast: http://spearhead.co/podcast. Apply to Spearhead: http://spearhead.co.
Externalities let you account for the true cost of products by including hidden costs like environmental damage. • Pricing externalities properly is more effective than feel-good measures 0:32 • Properly pricing externalities can save resources in a tremendous way 1:10 Transcript: http://nav.al/externalities
Calculate what future income is worth today by applying a discount to its future value. • Figure out what future income is worth today by applying a discount rate 0:00 Transcript: http://nav.al/npv
A lot of people are willing to pay more than what companies charge. • Consumer surplus is the extra value you get when you pay less than you were willing 0:00 Transcript: http://nav.al/surplus
You can charge people for extras based on their propensity to pay. • Price discrimination is a technique for charging certain people more 0:00 • Rich people and large enterprises are willing to pay more 0:51 Transcript: http://nav.al/price-discrimination
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

2019-07-1000:01:422

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
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Comments (17)

Mohammad Imran

My favorite philosopher.

Nov 15th
Reply

Noe Nicolas Dela Fuente

I have been listening to this megasode for 3 months over 20x now. Check the mix by Akira the Don at youtube. I also listen to that during workouts. Thanks Naval! Let's see how this goes..

Sep 7th
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Trevor Sivhaga

There are lots of podcasts I listen and there's this podcast channel. Powerful ish

Aug 20th
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Kristin Chong

Externalities- what is priced correctly?

Aug 12th
Reply (1)

Lucien Grondin

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

Jul 10th
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Tumwine

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

Jul 7th
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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
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Ketan Ramteke

MEGASODE!!!!

Jun 10th
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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
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Justin Hayes

jre brought me here

Jun 7th
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Ares

Interesting

May 26th
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Zain Imran

Best podcast ever. Thank you.

May 22nd
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Willllllllway

What a great podcast. Thank you!

May 15th
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Muma David Bwalya

This is amazing content! Wow!

May 13th
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William Krut

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

Mar 24th
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