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Almanack of Naval Ravikant
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.
Eric Jorgenson • Almanack of Naval Ravikant
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.
Eric Jorgenson • Almanack of Naval Ravikant
Desire is a contract you make with yourself to be unhappy until you get what you want.
Eric Jorgenson • Almanack of Naval Ravikant
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.
Eric Jorgenson • Almanack of Naval Ravikant
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.
Eric Jorgenson • Almanack of Naval Ravikant
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.
Eric Jorgenson • Almanack of Naval Ravikant
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.
Eric Jorgenson • Almanack of Naval Ravikant
We waste our time with short-term thinking and busywork. Warren Buffett spends a year deciding and a day acting. That act lasts decades.
Eric Jorgenson • Almanack of Naval Ravikant
Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).