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Live Below Your Means For Freedom (Listen) Episode 6
* “People who are living far below their means enjoy a freedom that people busy upgrading their lifestyle just can’t fathom” – Naval Ravikant
* Once you start making money, keep living like your old/poorer self
* When you upgrade your life as you make more money, you just stay in the “wage slave trap”
* Nassim Taleb has said – “The most dangerous things are heroin and a monthly salary”
* They’re both highly addictive
* One reason the very high marginal tax rates for the so-called wealthy are flawed:
* For many people, they toil/work extremely hard for decades, and then it finally pays off with a massive payday
* “Then of course Uncle Sam shows up, and basically says, ‘Hey, you know what, you just made a lot of money this year. Therefore, you’re rich. Therefore, you’re evil and you’ve got to hand it all over to us.’ So, it just destroys those kinds of creative risk-taking professions.” – Naval Ravikant
Give Society What it Doesn’t Know How to Get (Listen) | Episode 7
* Get rich by giving society what it doesn’t yet know how to get – at scale
* Money is like an IOU from society for something you did good in the past, that you can use in the future
* “Society always wants new things and if you want to be wealthy, figure out which one of those things you can provide for society that it does not yet know how to get, but it will want, that’s natural to you and within your capabilities. And then you have to figure out how to scale it.” – Naval Ravikant
* Creations start as just an act of creativity
* Then, for a little while, only rich people have it (like a chauffeur)
* Then it makes its way to everyone (like Uber)
* “Entrepreneurship is essentially an act of creating something new from scratch, predicting that society will want it, and then figuring out how to scale it and get it to everybody in a profitable and self-sustaining way.” – Naval Ravikant
The Internet Has Massively Broadened Career Possibilities (Listen) | Episode 8
* “The internet has massively broadened the possible space of careers. Most people haven’t figured this out yet.” – Naval Ravikant
* The internet connects everyone on the planet
* This means that you can find an audience for your product/service no matter how far away they are
* “The internet allows any niche obsession…from people who collect snakes to people who like to ride hot air balloons to people who like to sail around the world by themselves…whatever nice obsession you have, the internet allows you to scale.” – Naval Ravikant
* “If you want to reach 50,000 passionate people like you, there’s an audience out there for you”
* “Each person on Earth has different interests and obsessions, and it’s that diversity that becomes a creative superpower” – Naval Ravikant
* Before the internet – this didn’t really matter
* Your town/village didn’t necessarily need your unique creative skill
* But now – you can go out on the internet and find your audience and utilize that to build wealth
* The space of careers has been broadened -Examples:
* People are now able to upload videos to Youtube to make a living – this wasn’t possible 50 years ago
* Professional bloggers
* Podcasters – Joe Rogan makes about $100 million per year from his podcast alone
* “The internet enables any niche interest, as long as you’re the best at it, to scale-out” – Naval Ravikant
* Because every human is different, everyone is the best at something
* “Escape competition through authenticity” – Naval Ravikant
* Just do your own thing – “No one can compete with you on being you”
* “The more authentic you are, the less competition you’re gonna have”
Play Long-term Games With Long-term People (Listen) | Episode 9
* “All the benefits in life come from compound interest” – Naval Ravikant
* Whether it’s in relationships, life, your career, health, or learning
* Long-term games are good for both compound interest AND trust
* If you want to be successful, more likely than not, you’ll need to work with other people
* You’ll need to figure out who you can trust over a long period of time, so you can keep working with them so that eventually compound interest will let you collect the major rewards
* If you keep switching careers/networks – compound interest can’t take effect
* Add to that – you won’t know who to trust and your new network won’t know to trust you
* “It’s important to pick an industry where you can play long-term games with long-term people” – Naval Ravikant
* A good analogy:
* In a long-term game, everyone is making each other rich
* It’s positive-sum
* In a short-term game, everyone is making themselves rich
Pick Partners With Intelligence, Energy and Integrity (Listen) | Episode 10
* Pick people to work with who have high intelligence, high energy, and high integrity – you CANNOT compromise on this
* The world is full of smart/lazy people – this is why high energy is important
* But high integrity is the most important
* Otherwise, you just have a smart/hardworking crook who will eventually cheat you
* How do you figure out if someone has good integrity?
* Read signals
* “Signals are what people do, despite what they say” – Naval Ravikant
* If someone treats a waiter badly, it’s only a matter of time before they treat you badly
* Another tip – Find people to work with who seem irrationally ethical
* “Self-esteem is the reputation that you have with yourself” – Naval Ravikant
* Good/ethical/reliable people tend to have high self-esteem because they have good reputations with themselves
* “Generally, the more someone is saying that they’re moral, and ethical, and high integrity, the less likely they are to be that way” – Naval Ravikant
* Similarly – “If you openly talk about how honest, and reliable, and trustworthy you are, you’re probably not that honest and trustworthy”
* Sam Altman has said – “One of the important things for delegation is to delegate to people who are actually good at the thing that you want them to do”
* “I almost won’t start a company, or hire a person, or work with somebody if I just don’t think they’re into what I want them to do” – Naval Ravikant
* “If you’re trying to keep someone motivated for the long term, that motivation has to come intrinsically” – Naval Ravikant
Partner With Rational Optimists (Listen) | Episode 11
* Don’t partner with pessimists
* Avoid them
* To create great things, you have to be a rational optimist
* Rational in the way you see the world
* Optimistic in your capabilities
* “All of the really successful people I know have a really strong action bias. They just do things.” – Naval Ravikant
* The easiest way to figure out if something is viable or not is by doing it
* “You’ve got one life on this planet. Why not try to build something big?” – Naval Ravikant
* But do know that it takes a lot of effort to build even small things
* “I don’t think the corner grocery store owner is working any less hard than Elon Musk“ – Naval Ravikant
* Think BIG – but be rational about it
* Being an irrational optimist > being a rational cynic
* If you think about it, we’re descended from pessimists
* If two people were in a forest 10,000 years ago, and they hear a tiger – the optimist doesn’t run and ends up getting eaten, while the pessimist books it and survives
* “We’re genetically wired to be pessimists, but modern society is far, far safer” – Naval Ravikant
* “It made sense to be pessimistic in the past, but it makes sense to be an optimist today”
* In society today, we’re dealing with situations which have limited downside and unlimited upside
* Just think – if you build the next Tesla or SpaceX you can create billions of dollars of value for society (and yourself)
* If you fail, so what? A few investors lose money and you’re right back to where you started.
Arm Yourself With Specific Knowledge (Listen) | Episode 12
* “We have this idea that everything can be taught…..everything can be taught in school. And it’s not true that everything can be taught. In fact, the most interesting things cannot be taught. But everything can be learned.” – Naval Ravikant
* Specific knowledge is the knowledge that you care most about
* You can’t be trained for specific knowledge
* If it were possible to be trained for it – then someone else could be trained for it too
* You’d then be extremely replaceable – by other humans and eventually robots
* How do you discover your specific knowledge?
* “Specific knowledge is found by pursuing your innate talents, your genuine curiosity, and your passion” – Naval Ravikant
* “If you’re not 100% into it, then someone else who is 100% into it will outperform you”
* Look back on your own life and see what you’re uniquely good at
* Specific knowledge is the stuff that feels like play to you but looks like work to others
Specific Knowledge is Highly Creative or Technical (Listen) | Episode 13
* Warren Buffet once went to Benjamin Graham, author of The Intelligent Investor, and offered to work for him for free so he could learn about investing
* Benjamin told him – “Actually you’re overpriced. Free is overpriced.”
* Apprenticeships are VALUABLE – if specific knowledge can somehow be taught, this is how
* Specific knowledge tends to be highly technical or creative – on the bleeding edge of art, communication, or tech
* An example of specific knowledge – what Scott Adams, the creator of Dilbert, has done with his career
* He’s essentially becoming one of the most credible people in the world by making persuasive arguments and videos on Periscope
* What he does will NEVER be automated
* Specific knowledge can only be built by spending lots of time doing whatever you’re obsessed/interested in
* It can’t be taught in a book or course
* Career Advice – Aim to get in the 10-25th percentile of 2-3 things and then combine them instead of trying to be the very best at only one thing
* Scott Adams originated this idea in this blog post
* For example: Become a very good writer and knowledgeable about finance – then write about finance
* Double down on what you’re a “natural” at
* Everyone is a natural at something
* “Take the things that you are natural at and combine them so that you automatically, just through sheer interest and enjoyment, end up top in the top 25% or top 10% or top 5% at a number of things.” – Naval Ravikant
Learn to Sell, Learn to Build – You Will Be Unstoppable (Listen) | Episode 14
* “Learn to sell, learn to build, if you can do both, you will be unstoppable.” – Naval Ravikant
* Every business has someone who’s building/trying to grow it
* Then there’s sales
* But selling can mean marketing, communicating, recruiting, raising money, inspiring people, or doing PR
* The great companies have a killer combo of builder + seller
* Example – Apple (Steve Jobs and Steve Wozniak)
* Venture investors look for this combo whenever possible
* If you can BOTH build and sell – it’s a superpower
* Someone like Elon Musk or Marc Andreessen
* “The real giants in any field are the people who can both build and sell” – Naval Ravikant
* “Long term, people who understand the underlying product and how to build it and can sell it, these are catnip to investors. These people can break down walls if they have enough energy, and they can get almost anything done.” – Naval Ravikant
* It’s much more difficult for someone skilled in selling to pick up the building skill than vice versa
Go to Podcastnotes.org to read the full notes
Essentials: How To Learn Faster By Using Failures, Movement & Balance | Huberman Lab
To enhance neuroplasticity as an adult:
* 1: Pay attention to how you’re arriving at the learning bout – too alert? Too tired?
* 2: Make errors
* 3: Vestibular-motor sensory relationship is key – our bodies are designed to refocus if we’re off balance (literally, move in different planes)
* 4: Set a continency – learning will be accelerated if there’s an important reason why we’re learning
* 5: Try smaller bouts of learning for smaller bits of information – don’t try to learn a lot of information in one bout as an adult
Representational plasticity: Internal representation of the outside world – our maps of the motor and sensory world are merged
* “The way to create plasticity is to send signals to the brain that something is wrong, something is different, and something isn’t being achieved.” – Andrew Huberman
Limbic friction: The nuanced …
Reignite Your Relationship: Esther Perel On Desire, Intimacy, Sex, & Long-Term Love | The Rich Roll Podcast
The four horsemen of apocalypse and relationships: indifference, criticism, defensiveness, and contempt
Emotional Capitalism: “We are constantly urged to maximize and optimize our choices. We sometimes end up evaluating ourselves as products where we have to deal with comparison as the thief of joy. We partake in a frenzy of romantic consumerism where we are sometimes afraid to commit to the good for the fear of missing out on the perfect.”– Esther Perel
* We have unrealistic expectations that our romantic partner can check every box… “an over-burdened system with an under-resourced reality”
* This includes traditional expectations, like offering companionship, economic support, stable family life, and social status
* Also includes more modern expectations, such as being your best friend, trusted confidant, intellectual equal, efficient co-parent, fitness buddy, professional coach, and personal development guru
* Oh, and last but not least, being a passionate lover for the long haul
Relationship Ecosystems: Relationships are not stories of two, they are an ecosystem
* Family, friends, and mentors are all part of your relationship ecosystem
Shadow People: People who are no longer alive or no longer in your life that affect your future emotions and behaviors, both positively and negatively
* “I wish my mother was here to see this…”
* “I let my ex get away with that, not this time…”
* Self-awareness of shadow people is essential
Being Stuck: You’re stuck in increasingly rapid cycles of blame and defense
* Confirmation Bias: only regarding evidence that reinforces your belief
* Fundamental Attribution Error: believing you are more complex than your partner
* SOLUTION: write down everything your partner does that is for the good of the relationship
….
Best Moments of Modern Wisdom In 2024 – Weinstein, Huberman, Tim Ferriss, Hormozi, Rhonda Patrick, & More with Chris Williamson
Leave the Kids Alone: “Get away from our sons and away from our daughters. It’s not left or right. I don’t have a Republican bone in my body. Get the crazy people who do not understand human development away from our children.” – Eric Weinstein
Hard Choices, Easy Life: “Everything worth doing is hard – and the more worth doing it is, the harder it is. The greater the payoff, the greater the hardship. If it’s hard, good. It means no one else will do it. More for you.” – Alex Hormozi
The Selection Effect of Competition: If you are on a clear path toward a goal, you should get excited when things get harder because you know that no one else will follow
Tension Over All: Focus on getting tension in the muscle that you are targeting; getting tension in the muscle you are trying to grow is more significant than focusing on which exercise movement is best
…
Brigham Buhler – UnitedHealthcare CEO Assassination & The Mass Monetization of Chronic Disease | The Tucker Carlson Show
PBM Scam: Roughly 30% of the cost of every prescription drug is because of the kickback that goes to a PBM; the drugmaker pays the Pharmacy Benefit Manager (PBM) the kickback in order to be placed on the preferred contract with the insurance company
Money Before Health: The drugs that get put on formulary do not have to do with efficacy or what is best for the patient; instead, it is about which drugs have the biggest kickbacks for PBMs
The three pillars of the chronic disease crisis: (1) Big Pharma (2) The food industry and (3) The insurance industry
….
Jordan Peterson: How to Best Guide Your Life Decisions & Path | Huberman Lab
Porn is Not Natural: “We have a situation where any 13-year-old boy can see more hyper attractive super stimulus women in one day than the most successful man who lived 100 years ago would have ever seen in his whole life.”– Peterson
Real Food Makes Sense to Your Brain: One big thing you learn from following a clean diet is the relationship between the taste of the food, volume, macronutrients, micronutrients, and satiation
* This is impossible with highly processed food. The brain can’t parse everything inside and how it relates to your feelings of satisfaction
Read the Full Notes at Podcast Notes
This podcast consists of a conversation between Naval Ravikant and Babak Nivi going over Naval’s famous How to Get Rich tweetstorm.
Key Takeaways
* Wealth buys you freedom
* EVERYONE can be rich
* Aim to become so good at something, that luck eventually finds you
* Over time, it isn’t luck – it’s destiny
* You’re not going to get rich renting out your time
* Aim to have a job, career, or profession where your inputs don’t match your outputs
* People who are living far below their means enjoy a freedom that people busy upgrading their lifestyle just can’t fathom
* Get rich by giving society what it doesn’t yet know how to get – at scale
* The internet has massively broadened the space of possible careers
* Whatever nice obsession you have, the internet allows you to scale it
* Escape competition through authenticity
* All the benefits in life come from compound interest
* Whether it’s in relationships, life, your career, health, or learning
* Pick people to work with who have high intelligence, high energy, and high integrity – you CANNOT compromise on this
* Really successful people have an action bias
* Arm yourself with specific knowledge
* Specific knowledge is the stuff that feels like play to you but looks like work to others. It’s found by pursuing your innate talents, your genuine curiosity, and your passion.
* Learning to build AND sell products is a superpower
* Read what you love until you love to read
* The 5 most important skills are reading, writing, arithmetic, persuasion, and computer programming
* The number of iterations drives the learning curve
* Get comfortable with frequent, small failures
* If you’re willing to bleed a little bit every day, but in exchange, you win big later, you’ll be better off
* Embrace accountability and take business risks under your own name. Society will reward you with responsibility, equity, and leverage
* Product leverage is how fortunes will be made in the digital age – using things like code or media
* Product and media leverage are permisionless – they don’t require someone else’s permission for you to use them or succeed
* Wisdom is knowing the long-term consequences of your actions
* Judgment is wisdom on a personal domain (wisdom applied to external problems)
* The people with the best judgment are actually among the least emotional
* Set and enforce an aspirational hourly rate
* If you can outsource something for less than your hourly rate, outsource it
* The hierarchy of importance:
* What you work on
* Picking the right people to work with
* How hard you work
* A busy calendar and a busy mind will destroy your ability to do great things in this world
* Become the best in the world at what you do. Keep redefining what you do until this is true.
* Reject most advice, but remember you have to listen to/read enough of it to know what to reject and what to accept
* Your physical health, your mental health, and your relationships will most likely bring you more peace and happiness than any amount of money ever will
* Productize yourself
* Create a product out of whatever it is you do naturally and uniquely well
* Being honest leaves you with a clear mind
* “A lot of wisdom is just realizing the long-term consequences of your actions. The longer-term you’re willing to look, the wiser you’re going to seem to everybody around you.” – Naval Ravikant
* Negotiations are won by whoever cares less
Books Mentioned
* Warren Buffet once went to Benjamin Graham, author of The Intelligent Investor, and offered to work for him for free so he could learn about investing
* It’s important that you read foundational things (the original books in a given field which are scientific in nature)
* Instead of reading a random business book, read The Wealth of Nations by Adam Smith
* Instead of reading a recent book on biology or evolution, read Darwin’s On The Origin of Species
* Instead of reading a recent biotech book, read The Eighth Day of Creation
* Another recommendation – Richard Feynman’s Six Easy Pieces
* Naval highly recommends Skin in the Game by Nassim Taleb
* When Naval was younger, one of his favorite books was How to Get Rich by Felix Dennis
* To learn more about randomness, check out the highly recommended book – Fooled By Randomness by Nassim Taleb
* The Almanac of Naval Ravikant
Seek Wealth, Not Money or Status (Listen) | Episode 1
* Having wealth means having assets that earn while you sleep
* “The reason you want wealth is because it buys you freedom, so you don’t have to wear a tie like a collar around your neck, so you don’t have to wake up at 7 AM and rush to work in traffic, so you don’t have to waste away your entire life grinding all your productive hours away to a soulless job that doesn’t fulfill you.” – Naval Ravikant
* Money is how we transfer wealth
* “Money won’t solve all your problems, but it will solve all your money problems” – Naval Ravikant
* Wealth is a positive-sum game and status is a zero-sum game
Ethical Wealth Creation Makes Abundance for the World (Listen) | Episode 2
* “What I am basically focused on is true wealth creation. It’s not about taking money. It’s not about taking something from somebody else. But it’s from creating abundance.” – Naval Ravikant
* Basically all of the wealth society has today was created – we’re not still sitting around in caves figuring out how to divide pieces of firewood
* “Everyone can be rich” – Naval Ravikant
* In the First World, everyone is basically richer than almost anyone who was alive 200 years ago
* Furthermore, it’s better to be poor today than it was to be the richest man 200 years ago
* Here’s a thought experiment…
* Imagine if every human had the knowledge of a good software engineer – just think what society would look like 20 years from now
* We’d ALL be living in massive abundance
Free Markets Are Intrinsic to the Human Species (Listen) | Episode 3
* Capitalism is innate to the human species in every exchange we have
* When two people are talking – there’s an information exchange
* “The notion of exchange and keeping track of credits and debits – this is built into us as flexible social animals” – Naval Ravikant
* Humans are the only animals in the animal kingdom that cooperate across genetic boundaries
* Most animals don’t even cooperate – those that do cooperate only in packs or when they have some shared interest
* What lets humans cooperate?
* Keeping track of credits and debts – that’s free-market capitalism
* “Everybody can be wealthy, everybody can be retired, everybody can be successful” – Naval Ravikant
* It just comes down to education and desire
* “If you get too many takers and not enough makers, society falls apart” – Naval Ravikant
* This results in a communist country
* Ex. – Venezuela
Get the FULL NOTES at Podcastnotes.org.
NEW Premium Notes
5 Ways Stem Cells Will TRANSFORM What It Means To Be Healthy | The Gabby Reece Show
Christian Drapeau (@stemcellchristian) is a pioneer in stem cell research. And the first to propose stem cells as the body’s innate repair system. Christian Drapeau discusses the transformative potential of stem cells in health and healing. They explore the basics of stem cells, their role in the body, the evolution of stem cell research, and the impact of aging on stem cell efficacy.
The Roman Caesars’ Guide to Ruling | Barry Strauss on The Art of Manliness with Brett McKay (#1047)
How often do you think about the Roman Empire? Lately, this question has gone viral, leaving many women wondering why their husband or boyfriend is reflecting on Roman history so often. The truth lies in the Empire’s enduring allure: its epic tales of power, war, ambition, innovation, and dramatic leadership. In these Premium Podcast Notes, we turn to historian Barry Strauss who gives a detailed overview of his book, Ten Caesars: Roman Emperors from Augustus to Constantine, unpacking the themes that make Rome’s legacy a timeless source of fascination.
Podcast Notes Book Collection: 2024 Edition (UPDATED AND COMPLETE with 200+ Books)
After reviewing all 400+ Podcast Notes we wrote in 2024, we selected a comprehensive reading list of over 200 books. Whether you’re a new parent, hopeful entrepreneur, tech geek, history buff, or just a general bookworm, there’s truly something for everyone!
Top Takeaways Of The Week
5 Ways Stem Cells Will TRANSFORM What It Means To Be Healthy | The Gabby Reece Show
Stem Cells With Age: By age 30, you’ve lost 90% of red marrow stem cells; as stem cells disappear from the body, the loss becomes increasingly apparent over time
Stem cell sources: Bone marrow, fat tissue, blood, umbilical cord
Yamanaka factor: Take old cells and turn them into cells with characteristics of young cells
Why We Lose Them: “Over the past 150 years, we’ve gained an extra 50 years of lifespan. I don’t think we have the biology to have an extra 50 years naturally with full blossoming health. We need to kind of hack and tap and leverage things in our body.” – Christian Drapeau
Stem cells from blood (like PRP) are very potent; they’re dormant so need to be ‘awakened’. This is likely the future of stem cells and relatively new to use; the task now is to learn how to isolate and grow them for use Stem cells from the umbilical cord: The most potent – but not as mainstream because of three notable concerns:
* (1) Risk of contaminated stem cells is high which can lead to sepsis;
* (2) They’re difficult to isolate cleanly;
* (3) You can obtain genetic material from a donor who may have been a carrier for a disease that you may develop in the future
Tips to Supported Stem Cells:
* Red lights might help with bodily repair, possibly by aiding blood circulation
* Pulsed magnetic frequency (PMF) has been well-documents to boost stem cell frequency
* Exercise releases stem cells – but this might be because if you trigger tissue damage, your body will trigger a response
* Quality sleep supports the proliferation of brain stem cells
* Meditation has a healing component – 20 minutes of meditation has been shown to encourage stem cell release
* Plants for health: Shilajit, black seed (periodically), natto, kava (hard to source)
The Roman Caesars’ Guide to Ruling | Barry Strauss on The Art of Manliness with Brett McKay (#1047)
The Rise of Octavian/Augustus Caesar: Octavian, born Gaius Octavius, was Julius Caesar’s grand-nephew and was adopted posthumously as part of Caesar’s will — which was technically illegal, but law was pretty loose during civil war
How to Win the Game of Thrones: Augustus simply killed off a lot of his enemies, between several civil wars and the execution of about 100 Roman senators
Augustus' Expansion: Octavian added Egypt, northwestern Spain, and Switzerland to the Roman Empire
The Infamy of Nero: Nero was less interested in the empire itself and more interested in the celebrity of being Emperor
* He was egotistical and also very vain about his singing and chariot racing ability
* He competed in the Panhellenic Games and “won” every event
The Truth About Nero's Fiddling While Rome Burned: There’s a rumor that Nero fiddled while Rome burned, but the fiddle technically hadn’t been invented yet. However, he may have played a lyre, which is a harp-like instrument.
* There are even rumors that claim Nero started the fire, with the intent to engage in a massive urban renewal project
Marcus Aurelius, the Ivory Tower Emperor: Marcus Aurelius was a great philosopher but not a great emperor
* Marcus Aurelius had no military experience or experience outside Italy, he was completely unprepared to become empowered — a common theme in the Roman Empire system
* He let is son Commodus follow him as emperor
Commodus, The Villain: The first man born to be emperor
* Commodus was arrogant, entitled, and irresponsible
* Competed as a gladiator
* He offered bread and circuses to the people but killed many senators
* Eventually, the senate carries out a plot to kill Commodus
Dr. Laurie Santos: How To Achieve True Happiness Using Science-Based Protocols | Huberman Lab
Happiness Operates on 3 Timescales: (1) The immediate timescale of happiness; (2) The intermediate timescale of happiness where we introduce a story; (3) Meaning which is the full picture
Tips to Approach Happiness on All 3 Levels:
* Engage in activities that fit with values and strengths;
* Infuse strengths into work & leisure;
* Do for others
* Ask others for help
Extrinsic rewards: A tangible, visible reward for achieving something
Intrinsic rewards: Reward comes from within, feeling progress, purpose, etc.
On the lower end of the income spectrum, money affects happiness: If you struggle to put food on the table, keep a roof over your head – more money almost has a linear relationship with happiness
Stop being a Sad Loner: One of the biggest levers you can pull to improve happiness is to get more social connection“The two things that predict whether you’re happy or not so happy are how much time you spend with friends and family members and how much you are physical around other people. The more of that you do, the happier you’re going to be.” – Laurie Santos
Dopamine Must Be Earned, Not Given: “Be wary of any dopamine hit not preceded by effort to achieve it.” – Andrew Huberman
Prediction error: Introverts predict social connection will be negative, when in actuality they get report a great experience; extroverts predict social connection will be ok, and anticipation is high
Negativity bias: We’re built to notice the risky, potentially scary stuff; our brain goes there automatically which makes sense evolutionarily
Toxic Positivity: The notion that something is wrong if you’re feeling anything but happy or ‘good vibes’; negative emotions are a cue from our body to take action in some direction to fix
Dog vs. Cat People: If you crave unconditional love, you are probably more of a dog person; cats are more independent
Hedonic adaptation: We get used to things; you can’t be happy all the time because you become sensitized
* “Every good thing in life becomes boring after some time.” – Laurie Santos
* Tip: Imagine the negative things and obstacles; use worse things as a comparison to realize how good things are – don’t ruminate on it but use your imagination to appreciate what you have
* Tip #2: Space out positive experiences to come back to them over time
Banister effect: Believe something is positive; be optimistic enough to think something is doable then ask yourself the question ‘what will get in the way?’ so you problem-solve
Arrival fallacy: The idea, “I’ll be happy when…” – the thing we arrive at doesn’t feel as good once we get there and we chase the next thing
Micky Malka – Building Ribbit | Invest Like the Best with Patrick O’Shaughnessy Ep. 400
Life and business principles from Micky Malka:
* 1. Never forget where you came from
* 2. Fewer decisions is best
* 3. Be genuine to yourself and those around you
Lessons learned from the Robinhood saga
* Being the CEO is a very lonely existence
* Develop and craft a flexible mindset so that you can be comfortable taking risk
* When you truly understand the variables at play, you will be more comfortable with taking ‘risk’
* Mistakes made in a single day can damage a company’s brand for years to come
Technologies have their own grid complexes
* The electrical grid consists of towers, power meters, transformers, and more
* The internet is a grid of data and knowledge
* The monetary system has its own grid as well, consisting of the different financial layers and rails which include Visa, Mastercard, SWIFT, etc
Stablecoins: US dollar stablecoins are travel checks in today’s world; they are instant dollars that the individual can control and move, anytime, and for zero
* Stablecoins provided people with access to US dollars who previously did not have access to dollars and who were forced to use their local (and weaker) fiat currency
* Today, US-dollar stablecoins do a similar monthly volume to that of Visa and Mastercard
What Got You Here, Won't Get You There: Burn the bridge that got you here; whatever got you here will not get you to the next phase
Get the full notes at Podcastnotes.org
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