Naval

Arm yourself with specific knowledge. It can't be trained but it can be found by pursuing your genuine curiosity.

• Arm yourself with specific knowledge 0:00

• Specific knowledge can't be trained 1:47

• Specific knowledge is found by pursuing your curiosity 2:34

• Building specific knowledge will feel like play to you 3:53

Transcript: http://nav.al/specific-knowledge

Don't partner with cynics and pessimists. Their beliefs are self-fulfilling.

• Don't partner with pessimists 0:00

• Partner with rational optimists 1:20

• We're descended from pessimists 2:28

• BOCTAOE 4:13

Transcript: http://nav.al/rational-optimists

Picking partners with high intelligence, energy and integrity is the three-part checklist that you can't compromise on.

• Pick business partners with high intelligence, energy and integrity 0:00

• Motivation of the people you work with has to come intrinsically 1:18

• Integrity is what someone does, despite what they say they do 2:18

Transcript: http://nav.al/intelligence-energy-integrity

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.

• Play long-term games with long-term people 0:00

• When you switch industries, you're starting over from scratch 2:21

• Long-term players make each other rich 4:02

• Returns come from compound interest in iterated games 4:49

Transcript: http://nav.al/long-term

The Internet has massively broadened the possible space of careers, by allowing you to scale any niche obsession.

• The Internet has massively broadened the possible space of careers 0:00

• The Internet allows you to scale any niche obsession 1:22

• Escape competition through authenticity 3:33

Transcript: http://nav.al/possible-careers

Society will pay you for creating what it wants, but doesn't know how to get, and delivering it at scale.

• Give society what it wants, but doesn't know how to get—at scale 0:00

• Figure out what product you can provide and then figure out how to scale it 0:57

Transcript: http://nav.al/product-scale

People living far below their means enjoy a freedom that people busy upgrading their lifestyles just can't fathom.

• People living below their means have freedom 0:00

• The most dangerous things are heroin and a monthly salary 0:38

• Ideally, you'll make your money in discrete lumps 1:17

Transcript: http://nav.al/salary-freedom

You won't get rich renting out your time, because you can't earn non-linearly.

• You won't get rich renting out your time 0:00

• Renting out your time means you're essentially replaceable 1:23

• You must own equity to gain your financial freedom 2:17

• You want a career where your inputs don't match your outputs 2:41

Transcript: http://nav.al/renting-time

Build your character in a way so luck becomes deterministic.

• Build your character so luck becomes your destiny 0:00

• Build your character so opportunity finds you 1:12

• You have to be a little eccentric to be out on the frontier by yourself 2:39

Transcript: http://nav.al/luck-destiny

Build your character in a way so luck becomes deterministic.