Retweeted over 17K times, this twitter thread is a goldmine for insights. The author, Naval Ravikant, is a Silicon Valley executive known for his nuggets of wisdom on his Twitter account.
You HAVE to read the full thread below, but I will try to give a short summary.
https://twitter.com/naval/status/1002103360646823936?lang=en
Seek wealth, & not money or status. Wealth is having assets that earn while you sleep. Which is very critical, because you’re not going to get rich renting out your time. You must own equity.
Equity of what? You must own equity in a solution that gives society what it wants but does not yet know how to get. At scale.
And how do you earn while you sleep? Through Leverage. Leverage is something that increases your returns for the same amount of input effort/investment.
Fortunes require leverage. Business leverage comes from capital (money), people (labour working for you), and products with no marginal cost of replication (code and media).
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. Code and media are permissionless leverage. You can create software and media that works for you while you sleep. If you can’t code, write books and blogs, record videos and podcasts.
Become the best in the world at what you do. Keep redefining what you do until this is true.
How? Learn to sell. Learn to build. If you can do both, you will be unstoppable. Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers. Arm yourself with specific knowledge, accountability, and leverage. Specific knowledge is the knowledge that you cannot be trained for. It is often highly technical or creative & cannot be outsourced or automated. Embrace accountability, and take business risks under your own name.
You must be consistent & play the long iterated game. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.
Apply specific knowledge, with leverage, and eventually, you will get what you deserve.
Summary: Productize yourself
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From the desk of Aditya Khanduri
About me (Why I started Polygyan)
