How to Get RICH!?

If I were to recommend you just One video to watch for the Rest of your Life, Then it would be this!!

I have listened to this 4 hour long podcast for at least 20 times now and will surely listen to 40 more times. Here is why I am obsessed with this single video and why you would be too, once you listen to it over the weekend!!

If you are someone who has listened to this podcast, then Kudos!! I am super happy to have amazing folks like you on my mailing list, You can find more such interesting reads in my Previous Emails, Just Click On This Link. 

For all, else, we're distilling his insights into a bite-sized guide to get you hooked like the rest of us!

The speaker, Naval, says that the purpose of wealth is freedom and that wealth is created through assets that earn while you sleep. This could be a business you own, a property you rent out, or even savings that are being invested. The speaker, Naval Ravikant, argues that the goal should be to accumulate wealth as a way to financial freedom, so that you are not forced to do a job you dislike.

He discusses the difference between money and wealth and the two games that people play in life: the money game and the status game. He says that the money game is a positive-sum game where everyone can win, while the status game is a zero-sum game where one person has to lose for another to win.

Here are some of the key points from the video:

• The difference between wealth and money: Wealth is assets that earn while you sleep, such as businesses or rental properties. Money is a way to transfer wealth.

• The two games in life: The money game is about making money, and the status game is about being seen as important by others.

• How to win the money game: Focus on developing practical persuasion skills and a deep understanding of a technical skill or field.

• The importance of authenticity: You can’t be competed with if you are authentically yourself.

• The Power of Leverage: Imagine amplifying your efforts – that's the magic of leverage. Technology is a prime example. A single piece of code you write can be used by millions, creating passive income. Writing a book or creating an online course are other forms of leverage that allow your work to reach a wider audience and generate ongoing returns.

• Skin in the Game: If you're starting a business, invest your time, energy, and maybe even some savings to get it off the ground. This commitment fosters a deeper understanding of the risks and rewards involved.

• Luck that favors the bold: This is when you take action and put yourself out there, which increases your chances of getting lucky.

• How to give advice: Advice should be seen as anecdotes and maxims to help people recall their own experiences.

• The apprentice model: This is a great way to learn specific knowledge that can only be learned by doing.

• Self-education is key: Learning is an essential part of getting rich, and the foundation of learning is reading. Naval recommends reading widely on subjects that interest you until you develop a love for reading. However, with so much information available, it's important to prioritize foundational concepts before diving into more specific topics.

• Happiness: The Ultimate Metric

Money is a tool, not a goal in itself. Financial freedom allows you to pursue your passions and live life on your own terms. But chasing an arbitrary number on your bank statement can leave you feeling empty. Ravikant suggests focusing on happiness as your guiding metric.

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This video is a great resource for anyone who wants to learn more about wealth creation and how to win the money game. Naval Ravikant is a successful entrepreneur and investor, and he shares a lot of valuable insights in this video. If you are looking for actionable advice on how to get rich, then this video is definitely worth watching.

The video is quite long, at 3 and a half hours, so you may want to break it up into smaller chunks. You can also listen to it at a faster speed. But overall, this is a great video that is packed with valuable information.