The Almanack of Naval Ravikant by Eric Jorgenson, Jack Butcher, and Tim Ferriss

Rating: 8/10

Read More on AmazonRead the OriginalGet My Searchable Collection of 200+ Book Notes

The Almanack of Naval Ravikant by Eric Jorgenson, Jack Butcher, and Tim Ferriss

Rating: 8/10

Read More on AmazonGet My Searchable Collection of 250+ Book Notes

High-Level Thoughts

The most important highlights and takeaways from the book The Almanack of Naval Ravikant by Eric Jorgenson, Jack Butcher, and Tim Ferriss.

Summary Notes

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. (Page 31)

Specific knowledge is knowledge you cannot be trained for. If society can train you, it can train someone else and replace you. (Page 33)

Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media). (Page 34)

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. (Page 35)

If you're looking toward the long-term goal of getting wealthy, you should ask yourself, "Is this authentic to me? Is it myself that I am projecting?" And then, "Am I productizing it? Am I scaling it? Am I scaling with labor or with capital or with code or with media?" So it's a very handy, simple mnemonic. (Page 38)

"Escape competition through authenticity." Basically, when you're competing with people, it's because you're copying them. It's because you're trying to do the same thing. But every human is different. Don't copy. (Page 44)

The most important skill for getting rich is becoming a perpetual learner. You have to know how to learn anything you want to learn. (Page 45)

You do need to be deep in something because otherwise you'll be a mile wide and an inch deep and you won't get what you want out of life. You can only achieve mastery in one or two things. It's usually things you're obsessed about. (Page 46)

When you find the right thing to do, when you find the right people to work with, invest deeply. Sticking with it for decades is really how you make the big returns in your relationships and in your money. So, compound interest is very important. (Page 48)

It's ownership versus wage work. If you are paid for renting out your time, even lawyers and doctors, you can make some money, but you're not going to make the money gives you financial freedom. You're not going to have passive income where a business is earning for you while you are on that vacation. (Page 53)

The year I generated the most wealth for myself was actually the year I worked the least hard and cared the least about the future. I was mostly doing things for the sheer fun of it. I was basically telling people, "I'm retired, I'm not working." Then, I had the time for whatever was my highest valued project in front of me. By doing things for their own sake, I did them at their best. (Page 56)

But the new generation's fortunes are all made through code or media. [[Joe Rogan]] making $50 million to $100 million a year from his podcast. You're going to have PewDiePie. (Page 59)

Whenever you can in life, optimize for independence rather than pay. If you have independence and you're accountable on your output, as opposed to your input-that's the dream. (Page 60)

Learn to sell, learn to build. If you can do both, you will be unstoppable. (Page 63)

The developer takes on more risk, more accountability, has more leverage, and needs to have more specific knowledge. They need to understand fundraising, city regulations, where the real estate market is headed, and whether they should take the risk or not. It is more difficult. (Page 65)

We waste our time with short-term thinking and busywork. [[Warren Buffett]] spends a year deciding and a day acting. That act lasts decades. (Page 69)

Value your time at an hourly rate, and ruthlessly spend to save time at that rate. You will never be worth more you than think you're worth. (Page 70) #[[$1000 per Hour Work]]

Retirement is when you stop sacrificing today for an imaginary tomorrow. When today is complete, in and of itself, you're retired, (Page 78)

Let's get you rich first. I'm very practical about it because, you know, Buddha was a prince. He started off really rich, then he got to go off in the woods. (Page 90)

You have to put in the time, but the judgment is more important. The direction you're heading in matters more than how fast you move, especially with leverage. Picking the direction you're heading in for every decision is far, far more important than how much force you apply. Just pick the right direction to start walking in, and start walking. (Page 95)

Especially in business, if something isn't going well, I try to acknowledge it publicly and I try to acknowledge it publicly in front of my co-founders and friends and co-workers. Then, I'm not hiding it from anybody else. If I'm not hiding it from anybody, I'm not going to delude myself from what's actually going on. (Page 98)

It's only after you're bored you have the great ideas. It's never going to be when you're stressed, or busy, running around or rushed. Make the time. (Page 98)

If you don't have the underlying experience, then it just reads like a collection of quotes. It's cool, it's inspirational for a moment, maybe you'll make a nice poster out of it. But then you forget it and move on. Mental models are really just compact ways for you to recall your own knowledge. (Page 107)

If you cannot decide, the answer is no. And the reason is, modern society is full of options. There are tons and tons of options. We live on a planet of seven billion people, and we are connected to everybody on the internet. There are hundreds of thousands of careers available to you. There are so many choices. (Page 111)

If you have two choices to make, and they're relatively equal choices, take the path more difficult and more painful in the short term. (Page 112)

Reading science, math, and philosophy one hour per day will likely put you at the upper echelon of human success within seven years. (Page 113)

If you're talking about an old problem like how to keep your body healthy, how to stay calm and peaceful, what kinds of value systems are good, how you raise a family, and those kinds of things, the older solutions are probably better. (Page 123)

Happiness is there when you remove the sense of something missing in your life. (Page 129)

Happiness to me is mainly not suffering, not desiring, not thinking too much about the future or the past, really embracing the present moment and the reality of what is, and the way it is. (Page 130)

Desire is a contract you make with yourself to be unhappy until you get what you want. (Page 138)

To me, the real winners are the ones who step out of the game entirely, who don't even play the game, who rise above it. Those are the people who have such internal mental and self-control and self-awareness, they need nothing from anybody else. (Page 141)

One day, I realized with all these people I was jealous of, I couldn't just choose little aspects of their life. I couldn't say I want his body, I want her money, I want his personality. You have to be that person. Do you want to actually be that person with all of their reactions, their desires, their family, their happiness level, their outlook on life, their self-image? If you're not willing to do a wholesale, 24/7, 100 percent swap with who that person is, then there is no point in being jealous. (Page 144) #Jealousy

There's the "five chimps theory" where you can predict a chimp's behavior by the five chimps it hangs out with the most. (Page 147)

Just being very aware in every moment. If I catch myself judging somebody, I can stop myself and say, "What's the positive interpretation of this?" (Page 149)

Recover time and happiness by minimizing your use of these three smartphone apps: phone, calendar, and alarm clock. (Page 150)

All screen activities linked to less happiness, all non-screen activities linked to more happiness. (Page 150)

A personal metric: how much of the day is spent doing things out of obligation rather than out of interest? (Page 150)

You always have three options: you can change it, you can accept it, or you can leave it. What is not a good option is to sit around wishing you would change it but not changing it, wishing you could leave it but not leaving it and not accepting it. That struggle or aversion is responsible for most of our misery. The phrase I probably use the most to myself in my head is just one word: “accept." (Page 152)

When you really want to change, you just change. But most of us don't really want to change-we don't want to go through the pain just yet. At least recognize it, be aware of it, and give yourself a smaller change you can actually carry out. (Page 182)

My old definition was "freedom to." Freedom to do anything I want. Freedom to do whatever I feel like, whenever I feel like. Now, the freedom I'm looking for is internal freedom. It's “freedom from." Freedom from reaction. Freedom from feeling angry. Freedom from being sad. Freedom from being forced to do things. I'm looking for "freedom from," internally and externally, whereas before I was looking for “freedom to." (Page 188)

Honesty is a core, core, core value. By honesty, I mean I want to be able to just be me. I never want to be in an environment or around people where I have to watch what I say. (Page 196)

How do you define wisdom? Understanding the long-term consequences of your actions. (Page 200)

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