How to Get Rich (without getting lucky) - Naval Ravikant Periscope

[@TheAcolossus]

One of the most important videos on KZbin

[@sxiao]

well said

[@Kodaks_Lu.llaby_]

Even if you don't have good luck, you sure as hell need not to have had luck which in itself is a form of good luck is it not ? Fascinating

[@jordihc]

@55:55 "I have lowered my identity, I've lowered the chattering of my mind, I don't get involved in politics. I don't care that much about things that don't matter. I really value my time on this earth. I read philosophy. I meditate. And it works. You can very slowly, but surely, methodically improve your happiness baseline, just like you can improve your fitness. Just like you can improve your intellect by reading. But it first begins by believing that it is possible."

[@jordihc]

Naval has riffed on this idea in other talks of his. I've had three or so months to trial this mindset (whatever you want to call it) and can honestly say that it works. Lowering identity and chattering of mind are big, yoga and meditation help a lot with this. Another big factor has been the philosophy and introspection, i've read some authors Naval has recommended. Despite being stuck in another COVID lockdown this has boosted happiness in a significant way. Only thing not mentioned by Naval as a direct factor is exercise - this has been important for me. I feel that a clean diet would help as well. This is to let people know it is possible, naval aint talking shit lol. Cheers.

[@gusycorrea]

I can listen to Naval for hours...

[@VinnyTheory]

Naval if you end up seeing this, just wanted to say 1. I binge watched every one of your podcast videos on your "Naval" KZbin channel after watching your entire interview with Joe Rogan. 2. Appreciate all of your content 3. Not criticizing at all it just seemed as though explaining the 99% of all effort is wasted concept was slightly tough so I just wanted to add in that I think people simply are just taking the term "wasted" the wrong way. You seem to mean wasted (and you are correct in doing so) in the sense that 99% of work is diminished in the face of the 1% of the work that not only outdoes the 99% but also is 1000x more valuable than it. Marriage compared to ex girlfriends, studying compared to applicable/executed knowledge, viral KZbin videos compared to the rest of your videos, 1% of your achievements compared to 99% of your achievements. You're so right, 99% of the work for all intents and purposes is wasted, I just think people are so stubborn about what words strictly mean to them personally and don't take it with a grain of salt to understand what you're really getting at. Before typing this I even tried to rephrase the way you put the sentence but there is no better way of saying it. 99% of work is wasted. Amazing. You should eventually meet up with Jordan B. Peterson sometime and have a productive conversation on all topics of philosophy.

[@josuardalexgonzales1068]

Pass on Peterson

[@anon4153]

nah we definitely need them both tg

[@nkrolik13]

Had a difficult decision in my life, a small bit of wisdom from this really helped provide some much needed peace of mind.

[@ssunkite1]

Naval you rock. Very down to earth and solid content. Thanks for sharing your insights.

[@nibirnandi4344]

9:14 productize yourself 10:37 ,compound interest 16:29 good coder

[@TheFreeBull]

00:00 - Intro 01:00 - Naval's view on money 03:15 - Comments on his Tweetstorm --- Main Message --- 05:50 - How long does it takes to make money? 07:23 - Timeless principles of making money 07:38 - Ownership vs wage work 08:38 - Productize Yourself -- Most important message!!! 10:30 - Compound Interest (Wealth, Relationships, Health, Knowledge) --- Question from audience --- 15:10 - How does one escape 9 - 5 jobs? 18:12 - Can everyone become rich? 20:12 - Skin in the Game by Nassim Taleb 20:59 - Sales skills 22:05 - Specific knowledge 23:58 - Influence by Robert Cialdini 28:28 - Basic maths - artihmetics, probability and statistics 30:28 - On programming 31:46 - What degree should I get? 33:56 - Art school for designers --- Back to the tweetstorm --- 34:49 - Desires 36:15 - 3 Decision making heuristics 43:51 - The one thing Naval did to become successful 47:27 - On being yourself in a relationship 48:44 - How to deal with failure 50:06 - 99% of effort is wasted in goal sense 52:40 - Passive Income 53:26 - When you get there, you realize it was not what you were looking for Best Qoute: Making money will not make you happy, it will solve your money problems. Happiness comes from peace. Keep thinking, The Free Bull

[@arth_chart5280]

Thanks ❤️🙏

[@CobraAnkit]

Thanks for save my time.

[@beyondtheframe-ayear]

Thx :)

[@El_Diablo_12]

5:50 how long it takes to make money 14:20 sticking with the compounding vehicle for decades is how you make the really big bucks 30:50 spread of coding outcomes 38:00 focusing on one thing 41:00 hard choices easy life. Easy choices, hard life

[@dattasaijunkmail4832]

40:00 ❤️❤️

[@timetraveler_0]

Bro dumped his notes on Twitter, to share with us all. Nice one!

[@guitarwinds]

Where is the volume?

[@shwetasinghnm]

How does this guy have such crystal clear thinking?

[@A10ajit]

he took crystals

[@thajmohammedrishad5568]

@@A10ajit hahahah

[@k.c7655]

He says that meditation helped him with that

[@joshuablank3668]

Love Naval.

[@matguerra333]

Here via Rogan. You should put his link to his podcast see he gets credit for his work. ;)

[@dattasai9421]

36:16 Decision Making

[@dattasai9421]

42:16 Happiness vs Pleasure

[@chlorineisnotabeverage]

Being poor and happy is the real bar of gold.

[@jonysingh6272]

Yes humans can even be happy on concentration camps , whatever the environment is we adjust, but money problems are gonna catch up

[@christopherarmstrong2710]

20:12 Nassim Taleb Skin in The Game book

[@Ruthlessgrizzly]

Thank you!

[@Duckduckyo]

50:05 best part

[@SohrabAlborzian]

Naval teach us how to invest in stocks if you only had 25k the way you would do it. Looking for multi bagger ideas

[@whoaskedforme]

Rob, it is extremely risky and unlikely for someone to gain lots of wealth in short periods of time from investing in publicly traded companies, even if they have 25K to invest. Most hedge funds struggle the 7% annualized return of the market. You are much better off either investing for the long run (40+ years), in an fee free index fund, or by starting a company of your own. Good luck.

[@SohrabAlborzian]

bob brown mohnish pabrai does it consistently.

[@whoaskedforme]

Monish also sold a business for 20M back in 2000. It is much easier to accumulate wealth when you have a strong base like that. Leverage and compounding interest create most of his wealth. At that level, much more lucrative opportunities open up, than when you only have 25k to invest (which is better than most people. I applaud you for saving this much). I would recommend you read Monish’s 2007 book on value investing. Then you can learn to invest like him.

[@SohrabAlborzian]

bob brown huh? Mohnish does that consistently with 10k investments. I never said I had 25k. I used that so a broad audience can benefit. Do some research before you start trying to be the authority and giving unsolicited advise...this message wasn’t for you bro. You have missed the point in every message you have written. The term multi bagger has nothing to do with dollar amount invested. You can have $200 and get a multibagger. You are seeing the world through your own perception and in this case it’s flawed.

[@whoaskedforme]

Per your original comment, Naval will never read this message. This video was posted by a fan. If you wish to ask Naval a question, you should do so directly. Next, in this video, Naval says that it takes decades of work to become wealthy. Multi bagger stocks exist, but to consistently identify them is almost impossible. As a rule of thumb, if something is too good to be true, it probably is. If you have know of any content, of someone consistently identifying multi bagger stocks, please show me. I would love for you to prove me wrong.

[@FirstPrincipleGuy]

Massive value

[@SAba-tm6df]

Does naval still do these live chats outside of clubhouse ?

[@gigid9606]

sucks, i cant hear it and turned all the way up, even the close caption is not working

[@voggvogg]

Please consider adjusting your volume level next time, we can barely hear what you are saying. :)

[@1threat2humanityakausa25]

Moron turn your volume up

[@guitarwinds]

@@1threat2humanityakausa25 Moron, even with the volume at max it is low

[@gigid9606]

@@1threat2humanityakausa25 whos the moron here, idiot

[@noname-qh6ev]

What is name of the book he recommends?

[@kirillchemeritsin]

Skin in the Game by Nassim Nicholas Taleb, I believe

[@aloevera7422]

Influence Robert caldini

[@carlitosvodka]

I cant hear it properly

[@huntrz]

wondering what he says to his kids if he has one. They need his time and he is neither learning nor earning while with them.

[@bhavkapur]

As predicted by Naval 5 years ago, General AI is here in 2024 and coding is fading

[@jesse3105]

Why are we whispering?

[@The-Glitch-]

35:00

[@johngurung427]

28:09

[@mindyc.1941]

38:13 dammit I just realized I should've said no to a job but now it's too late 🤦

[@luvmywohdes1464]

you still work there?

[@quuqeemonster]

can't hear

[@Ibanezyt]

From JRE

[@td4yd154]

Thumbs up if you found Naval before Rogan

[@wasikhan9630]

Here for ajay devgn

[@danielr.larson1625]

Joe the man

[@Junior128100]

Hard to hear

[@jqwermqwer6442]

JRE

[@barnabygraham5187]

too quiet

[@huntrz]

first 2 heuristics contradict each other.

[@finnkennedy2168]

My advice for Naval is to not shoot vertically...

[@shwetasinghnm]

Naval, you should be talking on the world stage. Replace Sadhguru Jaggi Vasudev. Half the time he is b.s.ing.

[@clivephiri9314]

Probably if you asking the question, you should go to school :)

[@Stringtrip1]

"The moment I figure out something is a waste of time I leave..." this seems very ego-driven and honestly quite baseless. Work your face off on things you're interested in and don't waste time, sure, but making the effort to go a dinner with your wife at a friends place and then getting up and leaving because you deem it "A waste of time" is just poor manners and shows a lack of respect/gratefulness for your friends time & effort. Next time, just have a nice, fun evening with your wife and friends even if the event isn't personally palatable you could hardly consider relaxing and taking in a new experience "A waste of time" purely because it was new and different to how you had eaten food in the past. I thought it was the curiosity of crazy rich entrepreneur's that was mostly responsible for getting them there in the first place, no?

[@josuardalexgonzales1068]

He meant work related and not leisure related. As per the vid in naval channel

[@huntrz]

He has mentioned if he is not earning or not learning then its a waste of time. Therefore relationships be it spouse, kids or friends don't fit in his description of good use of time. Podcasts are coz they bring revenue.

[@Stringtrip1]

@@huntrz It's typical of people who go from being poor to rich to develop a superiority complex. Naval seems particularly susceptible.

[@AtmoStk]

You seem determined to see him in an uncharitable light.