1. Specification knowledge 2. Own brand and accountability 3. Leverage There are three types of leverage 1. Labour 2. Capital (Money) 3. No marginal cost of replication like Book, Movie, Code
@@ironwill4204helping people learn is one of the most valuable things you can do for someone. You can double your annual income by learning a skill. It’s quite helpful to teach others.
Grossly underrated channel. Naval shares top notch content... Listening him changes my perspective around career and other aspects. Thanks buddy...keep doing
But who on earth has rated this channel, just observe if possible and there is nothing called rating , may be there is for few people but does that matter . People with and who can provide value will always be top notch irrespective of their reach : apologies if its offensive for anybody 🌞 glad to have known naval Ravikant
literally was coming to type the same comment. Underated is an Understatement!( LOL I couldnt resist, is clever but mort importantly a True statement! Bravo!
@@leotechie2415 Its a figure of speech, a way to say : It should be more popular, more acknowledgements, more awareness and sharing, is the point. Simply put its a kind compliment, you seem to take it too literal and possibly triggering for some reason. Stay Smilin'
Thank you very much for sharing your knowledge, also I want to complement you on the way you put an outline and some information into your videos. This is quite helpful and appreciated!
Well, the accountability part is the hardest part for me, putting my Name and my face, and i was considering it 100x times for do or no for the accountability
If they dont like your art….nothing. Buy an art studio that is already cashflowing ala Dan Pena. Better yet….buy business in healthcare and make a fortune and buy any art you want.
Summarize how to make money by naval : you have to get rewarded by society by giving it what it wants and it doesnt know to get elsewhere 1. figure out what product/service that society wants but does not yet know how to get and you have become the person that delivers that and delivers that at scale usually in Tech spesific knowledge = knowledge that only you know or small set of people know and it is basically come out of your passions, innate talents, hobbies and inttelectual curiosity, if you have that you are more likely to have skill sets that society does not know yet how to train other people on how to do, because if it can train other people how to do something, and then it can replace/paid minimun wage so you want to know how to do something that other people dont know how do at the time period they want and you have to take that spesific knowledge with accountability on a brand lastly you have to have leverage as example : 2 hours of work = 2x input 8x input = 8x output without leverage if you use leverage + making the right decision : 8x input = 64x output with leverage
leverage is something which eases your task of doing something. In this case, a software product / code gives you a leverage to solve people's problem with bare minimum dependancy on others if you know coding. And it's scalable as well.
Errrr I think there are few holes in the first point. He makes the point that you get specific knowledge where you pursue something you’re deeply interested in and then all of a sudden it becomes valuable, then he talks about Deep Learning and AI. But that is an extremely cherry picked example. There are several university professors that never got rich pursuing the thing they were deeply interested in. Also I have a feeling a lot of the people who came to AI at the right time had a good inkling that they were onto something huge (i.e. the people who are the chiefs at the big AI labs). Then he goes onto say have a huge public brand, but again, there are plenty of rich anonymous people.
![Naval Ravikant | The Most Important Skill To Get Rich - And Debunking The Lies [with Charlie Munger]](http://i.ytimg.com/vi/4AXTmL4TC6c/mqdefault.jpg)
![Naval Ravikant | The Most Important Skill To Get Rich - And Debunking The Lies [with Charlie Munger]](/img/tr.png)
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1. Specification knowledge
2. Own brand and accountability
3. Leverage
There are three types of leverage
1. Labour
2. Capital (Money)
3. No marginal cost of replication like Book, Movie, Code
thanks for the TL;DW recap
so in other words, he's not saying anything and everyone thinks he was giving out free knowledge 😮💨
thanks
Help more people - the more people you help, the higher the rewards.
How do u help them from a paid course..?
Yes
@@ironwill4204helping people learn is one of the most valuable things you can do for someone. You can double your annual income by learning a skill. It’s quite helpful to teach others.
So the most important thing is to build an audience you can help
Grossly underrated channel. Naval shares top notch content... Listening him changes my perspective around career and other aspects. Thanks buddy...keep doing
Much appreciated! Thank You :)
But who on earth has rated this channel, just observe if possible and there is nothing called rating , may be there is for few people but does that matter . People with and who can provide value will always be top notch irrespective of their reach : apologies if its offensive for anybody 🌞 glad to have known naval Ravikant
literally was coming to type the same comment. Underated is an Understatement!( LOL I couldnt resist, is clever but mort importantly a True statement! Bravo!
Thank you so much ❤️
@@leotechie2415 Its a figure of speech, a way to say : It should be more popular, more acknowledgements, more awareness and sharing, is the point. Simply put its a kind compliment, you seem to take it too literal and possibly triggering for some reason. Stay Smilin'
This had me in an awe despite the many I heard of it before now.. your notes on top of it were treasurable. You're my superhero from now on bro
Appreciate it very much :)
A burning desire, very few people have that
Brilliant as always ...there are givers who know how to break down information to fit proper basic meaning ..thanks
Thank You :)
Thank you Naval❤
Can't believe this is two years ago, whatever he said about AI and cutting edge Technology revolution is happening now.
Still listening to it, 18th Oct 2024.
Become best at something society needs
Every time. I learn something new.
Civic knowledge. Passions and hobbies. :)
Great stuff Naval!! So simply explained.
Thank you very much for sharing your knowledge, also I want to complement you on the way you put an outline and some information into your videos. This is quite helpful and appreciated!
Well, the accountability part is the hardest part for me, putting my Name and my face, and i was considering it 100x times for do or no for the accountability
Pure goals , thank you so much .
Thank you😍
too good information ,I appreciate the knowledge of naval sir ,
Great chart. Pretty understandable.
Thank you!
Thanks !
Great Video! Wonder how this could translate to a medical doctor, doesn’t matter which specialty. Any ideas?
Design a medical product
Read "Expert secrets" by Russel Brunson.
Digital Products🔥
This is deep
How do an artist apply this nuggets ?
If they dont like your art….nothing. Buy an art studio that is already cashflowing ala Dan Pena. Better yet….buy business in healthcare and make a fortune and buy any art you want.
great content!
Thank you !! I see you are about to get some cheese on your nuggets! Thanks for the support ❤️
@@PickingNuggets yes I can't wait for the cheese!!
Summarize how to make money by naval :
you have to get rewarded by society by giving it what it wants and it doesnt know to get elsewhere
1. figure out what product/service that society wants but does not yet know how to get and you have become the person that delivers that and delivers that at scale
usually in Tech
spesific knowledge = knowledge that only you know or small set of people know and it is basically come out of your passions, innate talents, hobbies and inttelectual curiosity, if you have that you are more likely to have skill sets that society does not know yet how to train other people on how to do, because if it can train other people how to do something, and then it can replace/paid minimun wage
so you want to know how to do something that other people dont know how do at the time period they want
and you have to take that spesific knowledge with accountability on a brand
lastly you have to have leverage
as example : 2 hours of work = 2x input
8x input = 8x output without leverage
if you use leverage + making the right decision :
8x input = 64x output with leverage
❤❤❤amazing
Awesome!
thanks!
Can someone elaborate how one leverages with code?
My interpretation is that building products using code
your code can keep serving customers while you sleep
leverage is something which eases your task of doing something. In this case, a software product / code gives you a leverage to solve people's problem with bare minimum dependancy on others if you know coding. And it's scalable as well.
Ace
🔥🙌🏼
Errrr I think there are few holes in the first point. He makes the point that you get specific knowledge where you pursue something you’re deeply interested in and then all of a sudden it becomes valuable, then he talks about Deep Learning and AI. But that is an extremely cherry picked example.
There are several university professors that never got rich pursuing the thing they were deeply interested in. Also I have a feeling a lot of the people who came to AI at the right time had a good inkling that they were onto something huge (i.e. the people who are the chiefs at the big AI labs).
Then he goes onto say have a huge public brand, but again, there are plenty of rich anonymous people.