How to Get Rich Without Getting Lucky – Naval Ravikant

What is this?

This is a Twitter thread by Naval Ravikant, an Indian-American entrepreneur and investor. He is the co-founder, chairman, and former CEO of AngelList. He has invested early-stage in over 200 companies including 10 Unicorns.

This thread talks about getting rich, but do not be quick to judge this. Naval's definition of getting rich is a bit different from all those self-help books out there. So give it a shot, listen to what he has to say.

How to get rich without getting lucky?

Ravikant believes that ethical wealth creation is possible, and that if you despise wealth, it will elude you. He also warns against playing status games, which he sees as a distraction from the real goal of wealth creation.

According to Ravikant, the key to getting rich is to "give society what it wants but does not yet know how to get." This means identifying unmet needs and developing solutions to those needs. He also stresses the importance of playing long-term games with long-term people.

In today's world, the internet has created a vast number of new career opportunities. However, most people have not yet figured out how to take advantage of these opportunities. Ravikant encourages people to explore new and emerging industries, and to develop specific knowledge that cannot be easily replicated.

He also emphasizes the importance of building leverage. Leverage is a force multiplier that allows you to achieve more with less effort. There are many different forms of leverage, such as capital, people, and products with no marginal cost of replication (code and media).

Ravikant believes that the most important form of leverage is permissionless leverage, such as code and media. This is because permissionless leverage allows you to create products and services that can reach a global audience without the need for permission from anyone else.

In order to build wealth, Ravikant believes that it is important to develop good judgment. Judgment is the ability to make wise decisions, and it is a skill that can be developed through experience and learning. He recommends studying microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers.

Ravikant also believes that it is important to work hard and to become the best in the world at what you do. He warns against get-rich-quick schemes, and he emphasizes the importance of applying specific knowledge with leverage.

In conclusion, Naval Ravikant's advice on how to get rich without getting lucky is based on the principles of creating value, building leverage, and developing good judgment. By following these principles, you can increase your chances of achieving financial success.