Naval

By Naval

What's Naval about?

Naval on wealth, investing, startups, tech and life. Founder of AngelList, investor in Uber and hundreds more, author of Venture Hacks and Startupboy.

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Externalities: Calculating ...

07.31.2019

Externalities let you account for the true cost of products by including hidden costs like environmental damage.

Naval episodes:

07.31.2019 Externalities: Calculating the Hidden Costs of Products Externalities let you account for the true cost of products by including hidden costs like environmental damage.
07.29.2019 Net Present Value: What Future Income Is Worth Today What future income is worth today by applying a discount to its future value.
07.25.2019 Consumer Surplus: Getting More Than You Paid For A lot of people are willing to pay more than what companies charge.
07.23.2019 Price Discrimination: Charge Some People More Charge people for extras based on their propensity to pay.
07.19.2019 Compounding Relationships Make Life Easier Life gets a lot easier when you know someone’s got your back.
07.15.2019 Turn Short-Term Games Into Long-Term Games Improve your leverage in negotiations by turning short-term relationships into long-term ones.
07.12.2019 Schelling Point: Cooperating Without Communicating People who can’t communicate can cooperate by anticipating the other person’s actions.
07.10.2019 Kelly Criterion: Avoid Ruin Don't ruin your reputation or get wiped to zero.
07.08.2019 Principal-Agent Problem: Act Like an Owner If you think and act like an owner, it’s only a matter of time until you become an owner.
06.28.2019 Envy Can Be Useful, or It Can Eat You Alive Envy can give you a powerful boost, or it can eat you alive if you let it follow you.
06.26.2019 Being Ethical Is Long-Term Greedy If you cut fair deals, you will get paid in the long run.
06.24.2019 We Should Eventually Be Working for Ourselves The goal is that we are eventually wealthy and working for ourselves.
06.21.2019 Accountability Means Letting People Criticize You Misunderstanding accountability, and other mistakes on the path to creating wealth.
06.02.2019 How to Get Rich: Every Episode One giant episode with every interview on How to Get Rich.
05.24.2019 Productize Yourself Figure out what you're uniquely good at and apply as much leverage as possible.
05.23.2019 There Are No Get Rich Quick Schemes Get rich quick schemes are just someone else getting rich off you.
05.21.2019 A Calm Mind, a Fit Body, a House Full of Love When you're finally wealthy, you'll realize it wasn't what you were seeking in the first place.
05.20.2019 Reject Most Advice Most advice is people giving you their winning lottery ticket numbers.
05.19.2019 Eventually You Will Get What You Deserve Apply specific knowledge with leverage and eventually you will get what you deserve.
05.17.2019 Play Stupid Games, Win Stupid Prizes Competition will blind you to greater games. You're one step away from a better market.
05.16.2019 Escape Competition Through Authenticity Competition can make you play the wrong game. No one can compete with you on being you.
05.13.2019 Keep Redefining What You Do Become the best in the world at what you do. Keep redefining what you do until this is true.
05.08.2019 Be Too Busy to “Do Coffee” You should be too busy to “do coffee”, while still keeping an uncluttered calendar.
05.06.2019 Work As Hard As You Can Work as hard as you can. Even though what you work on and who you work with are more important.
05.01.2019 Set an Aspirational Hourly Rate If outsourcing a task will cost less than your hourly rate, outsource it.
04.29.2019 Judgment Is the Decisive Skill Everything we've discussed so far has been setting you up to apply judgment.
04.26.2019 Example: From Laborer to Real Estate Tech The continuum from laborer to real estate tech company goes from low to high specific knowledge, accountability and leverage.
04.22.2019 Pick a Business Model With Leverage Ideally, you should pick a business model with network effects, low marginal costs and scale economies.
04.19.2019 Product Leverage Is Egalitarian Labor and capital are limited to the people who control those resources. But products reach global markets.
04.17.2019 Product and Media Are New Leverage Product and media are the leverage of new wealth. Create software and media that work for you while you sleep.
04.15.2019 Labor and Capital Are Old Leverage Wealth requires leverage. Labor and capital are older forms of leverage that everyone is fighting over.
04.13.2019 Take Accountability to Earn Equity If you have high accountability, you're less replaceable and you can get a piece of the business.
04.11.2019 Embrace Accountability to Get Leverage Embrace accountability. Society will reward you with leverage.
04.08.2019 There's No Actual Skill Called Business There's no actual skill called business. Avoid business schools and magazines.
04.05.2019 The Foundations Are Math and Logic If you understand mathematics and logic, you have the basis for understanding everything else.
04.03.2019 Read What You Love Until You Love to Read You should be able to pick up any book in the library and read it.
03.31.2019 Learn to Sell, Learn to Build Learn to sell. Learn to build. If you can do both, you will be unstoppable.
03.28.2019 Specific Knowledge Is Highly Creative or Technical Specific knowledge tends to be creative or technical. It's on the bleeding edge of technology, art and communication.
03.25.2019 Arm Yourself With Specific Knowledge Arm yourself with specific knowledge. It can't be trained but it can be found by pursuing your genuine curiosity.
03.22.2019 Partner With Rational Optimists Don't partner with cynics and pessimists. Their beliefs are self-fulfilling.
03.22.2019 Pick Partners With Intelligence, Energy and Integrity Picking partners with high intelligence, energy and integrity is the three-part checklist that you can't compromise on.
03.19.2019 Play Long-term Games With Long-term People Pick an industry where you can play long-term games with long-term people. All returns in life come from compound interest over many turns of the game.
03.19.2019 The Internet Has Massively Broadened Career Possibilities The Internet has massively broadened the possible space of careers, by allowing you to scale any niche obsession.
03.14.2019 Give Society What It Doesn't Know How to Get Society will pay you for creating what it wants, but doesn’t know how to get, and delivering it at scale.
03.11.2019 Live Below Your Means for Freedom People living far below their means enjoy a freedom that people busy upgrading their lifestyles just can't fathom.
03.08.2019 You Won't Get Rich Renting Out Your Time You won't get rich renting out your time, because you can't earn non-linearly.
03.07.2019 Make Luck Your Destiny Build your character in a way so luck becomes deterministic.
03.06.2019 Making Money Isn't About Luck Making money isn't about luck. It's about becoming the kind of person who makes money.
03.06.2019 Free Markets Are Intrinsic to Humans We're the only animals who cooperate across genetic boundaries, because we can track credits and debits in voluntary exchanges.
03.05.2019 Make Abundance for the World Wealth isn't about taking something from somebody else—it's about creating abundance for the world.

Older episodes

Naval

What's Naval about?

Download our free app to listen on your phone

Naval episodes:

Externalities: Calculating the Hidden Costs of Products

Net Present Value: What Future Income Is Worth Today

Consumer Surplus: Getting More Than You Paid For

Price Discrimination: Charge Some People More

Compounding Relationships Make Life Easier

Turn Short-Term Games Into Long-Term Games

Schelling Point: Cooperating Without Communicating

Kelly Criterion: Avoid Ruin

Principal-Agent Problem: Act Like an Owner

Envy Can Be Useful, or It Can Eat You Alive

Being Ethical Is Long-Term Greedy

We Should Eventually Be Working for Ourselves

Accountability Means Letting People Criticize You

How to Get Rich: Every Episode

Productize Yourself

There Are No Get Rich Quick Schemes

A Calm Mind, a Fit Body, a House Full of Love

Reject Most Advice

Eventually You Will Get What You Deserve

Play Stupid Games, Win Stupid Prizes

Escape Competition Through Authenticity

Keep Redefining What You Do

Be Too Busy to “Do Coffee”

Work As Hard As You Can

Set an Aspirational Hourly Rate

Judgment Is the Decisive Skill

Example: From Laborer to Real Estate Tech

Pick a Business Model With Leverage

Product Leverage Is Egalitarian

Product and Media Are New Leverage

Labor and Capital Are Old Leverage

Take Accountability to Earn Equity

Embrace Accountability to Get Leverage

There's No Actual Skill Called Business

The Foundations Are Math and Logic

Read What You Love Until You Love to Read

Learn to Sell, Learn to Build

Specific Knowledge Is Highly Creative or Technical

Arm Yourself With Specific Knowledge

Partner With Rational Optimists

Pick Partners With Intelligence, Energy and Integrity

Play Long-term Games With Long-term People

The Internet Has Massively Broadened Career Possibilities

Give Society What It Doesn't Know How to Get

Live Below Your Means for Freedom

You Won't Get Rich Renting Out Your Time

Make Luck Your Destiny

Making Money Isn't About Luck

Free Markets Are Intrinsic to Humans

Make Abundance for the World

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