Naval
Episodes
Desire Is a Contract You Make to Be Unhappy
10 Feb 2020
Contributed by Lukas
Happiness is returning to a state where nothing is missing. Transcript: http://nav.al/desire
Happiness Is a Skill You Can Develop
03 Feb 2020
Contributed by Lukas
You're not stuck at your current level of happiness. Transcript: http://nav.al/skill
Happiness Is Not Science or Math
28 Jan 2020
Contributed by Lukas
Happiness is more like poetry than algorithms. Transcript: http://nav.al/math
Happiness Without Material Comfort Is Playing on Hard Mode
28 Jan 2020
Contributed by Lukas
It's easier to fulfill your material desires than to renounce them. http://nav.al/material
Live Long Enough and You'll Become a Philosopher
25 Jan 2020
Contributed by Lukas
This podcast is a practical philosophy of health, wealth and happiness. Transcript: https://nav.al/philosopher
How to Get Rich: Every Episode
10 Dec 2019
Contributed by Lukas
This giant episode collects every interview I've done on "How to Get Rich." It includes 10 minutes of unreleased material—at the end—on "Finding T...
How to Angel Invest, Part 1
17 Nov 2019
Contributed by Lukas
Excerpted from the Spearhead podcast: http://spearhead.co
Externalities: Calculating the Hidden Costs of Products
31 Jul 2019
Contributed by Lukas
Externalities let you account for the true cost of products by including hidden costs like environmental damage. • Pricing externalities properly i...
Net Present Value: What Future Income Is Worth Today
29 Jul 2019
Contributed by Lukas
Calculate what future income is worth today by applying a discount to its future value. • Figure out what future income is worth today by applying ...
Consumer Surplus: Getting More Than You Paid For
25 Jul 2019
Contributed by Lukas
A lot of people are willing to pay more than what companies charge. • Consumer surplus is the extra value you get when you pay less than you were w...
Price Discrimination: Charge Some People More
23 Jul 2019
Contributed by Lukas
You can charge people for extras based on their propensity to pay. • Price discrimination is a technique for charging certain people more 0:00 • ...
Compounding Relationships Make Life Easier
19 Jul 2019
Contributed by Lukas
Life gets a lot easier when you know someone's got your back. • Compounding relationships make life easier 0:00 • It's better to have a few compou...
Turn Short-Term Games Into Long-Term Games
15 Jul 2019
Contributed by Lukas
Improve your leverage in negotiations by turning short-term relationships into long-term ones. • Pareto optimal solutions require a trade-off to imp...
Schelling Point: Cooperating Without Communicating
12 Jul 2019
Contributed by Lukas
People who can't communicate can cooperate by anticipating the other person's actions. • Use social norms to cooperate when you can't communicate 0:...
Kelly Criterion: Avoid Ruin
10 Jul 2019
Contributed by Lukas
Don't ruin your reputation or get wiped to zero. • Don't bet everything on one big gamble 0:00 • Ruining your reputation is the same as getting wi...
Principal-Agent Problem: Act Like an Owner
08 Jul 2019
Contributed by Lukas
If you think and act like an owner, it's only a matter of time until you become an owner. • A principal is an owner; an agent is an employee 0:00 •...
Envy Can Be Useful, or It Can Eat You Alive
28 Jun 2019
Contributed by Lukas
Envy can give you a powerful boost, or it can eat you alive if you let it follow you. • Suffering through the wrong thing can motivate you to find t...
Being Ethical Is Long-Term Greedy
26 Jun 2019
Contributed by Lukas
If you cut fair deals, you will get paid in the long run. • Ethics isn't something you study; it's something you do 0:00 • Trust leads to compound...
We Should Eventually Be Working for Ourselves
24 Jun 2019
Contributed by Lukas
The goal is that we are eventually wealthy and working for ourselves. • This advice is for anybody who wants to be entrepreneurial 0:00 • Middle...
Accountability Means Letting People Criticize You
21 Jun 2019
Contributed by Lukas
Misunderstanding accountability, and other mistakes on the path to creating wealth. • Accountability means letting people criticize you 0:00 • ...
How to Get Rich: Every Episode
02 Jun 2019
Contributed by Lukas
This giant episode collects every interview I've done on "How to Get Rich." It includes 10 minutes of unreleased material—at the end—on "Find...
Productize Yourself
24 May 2019
Contributed by Lukas
Figure out what you're uniquely good at and apply as much leverage as possible. • Figure out what you're uniquely good at and apply as much leverage...
There Are No Get Rich Quick Schemes
23 May 2019
Contributed by Lukas
Get rich quick schemes are just someone else getting rich off you. • There are no get rich quick schemes 0:00 • We don't have ads because it would...
A Calm Mind, a Fit Body, a House Full of Love
21 May 2019
Contributed by Lukas
When you're finally wealthy, you'll realize it wasn't what you were seeking in the first place. • When you're wealthy, you'll realize it wasn't what...
Reject Most Advice
20 May 2019
Contributed by Lukas
Most advice is people giving you their winning lottery ticket numbers. • The best founders listen to everyone but make up their own mind 0:00 • Ad...
Eventually You Will Get What You Deserve
19 May 2019
Contributed by Lukas
Apply specific knowledge with leverage and eventually you will get what you deserve. • On a long enough time scale you will get paid 0:00 • What a...
Play Stupid Games, Win Stupid Prizes
17 May 2019
Contributed by Lukas
Competition will blind you to greater games. You're one step away from a better market. • Businesses that seem like they're in direct competition re...
Escape Competition Through Authenticity
16 May 2019
Contributed by Lukas
Competition can make you play the wrong game. No one can compete with you on being you. • Competition will trap you in a lesser game 0:00 • No one...
Keep Redefining What You Do
13 May 2019
Contributed by Lukas
Become the best in the world at what you do. Keep redefining what you do until this is true. • Keep redefining what you do until you're the best at ...
Be Too Busy to "Do Coffee"
08 May 2019
Contributed by Lukas
You should be too busy to "do coffee", while still keeping an uncluttered calendar. • Be too busy to "do coffee" while keeping an uncluttered calend...
Work As Hard As You Can
06 May 2019
Contributed by Lukas
Work as hard as you can. Even though what you work on and who you work with are more important. • Work as hard as you can 0:00 • But what you work...
Set an Aspirational Hourly Rate
01 May 2019
Contributed by Lukas
If outsourcing a task will cost less than your hourly rate, outsource it. • Set and enforce an aspirational hourly rate 0:00 • You can't penny pin...
Judgment Is the Decisive Skill
29 Apr 2019
Contributed by Lukas
Everything we've discussed so far has been setting you up to apply judgment. • In an age of infinite leverage, judgment becomes the most important s...
Example: From Laborer to Real Estate Tech
26 Apr 2019
Contributed by Lukas
The continuum from laborer to real estate tech company goes from low accountability to high specific knowledge, accountability and leverage. • Labor...
Pick a Business Model With Leverage
22 Apr 2019
Contributed by Lukas
Ideally, you should pick a business model with network effects, low marginal costs and scale economies. • Scale economies: the more you produce, th...
Product Leverage Is Egalitarian
19 Apr 2019
Contributed by Lukas
Labor and capital are limited to the people who control those resources. But products reach global markets. • Product leverage is a positive-sum ga...
Product and Media Are New Leverage
17 Apr 2019
Contributed by Lukas
Product and media are the leverage of new wealth. Create software and media that work for you while you sleep. • Product and media are the new lever...
Labor and Capital Are Old Leverage
15 Apr 2019
Contributed by Lukas
Wealth requires leverage. Labor and capital are older forms of leverage that everyone is fighting over. • Our brains aren't evolved to comprehend ne...
Take Accountability to Earn Equity
13 Apr 2019
Contributed by Lukas
If you have high accountability, you're less replaceable and you can get a piece of the business. • Accountability is how you're going to get equity...
Embrace Accountability to Get Leverage
11 Apr 2019
Contributed by Lukas
Embrace accountability. Society will reward you with leverage. • You have to have accountability to get leverage 0:00 • Take business risks under ...
There's No Actual Skill Called Business
08 Apr 2019
Contributed by Lukas
There's no actual skill called business. Avoid business schools and magazines. • There's no actual skill called business 0:00 • Doing is faster th...
The Foundations Are Math and Logic
05 Apr 2019
Contributed by Lukas
If you understand mathematics and logic, you have the basis for understanding everything else. • The ultimate foundations are math and logic: 0:00 •...
Read What You Love Until You Love to Read
03 Apr 2019
Contributed by Lukas
You should be able to pick up any book in the library and read it. • Read what you love until you love to read: 0:00 • Read the original scientifi...
Learn to Sell, Learn to Build
31 Mar 2019
Contributed by Lukas
Learn to sell. Learn to build. If you can do both, you will be unstoppable. • Learn to sell, learn to build 0:00 • The Silicon Valley model is a...
Specific Knowledge Is Highly Creative or Technical
28 Mar 2019
Contributed by Lukas
Specific knowledge tends to be creative or technical. It's on the bleeding edge of technology, art and communication. • Specific knowledge can be ta...
Arm Yourself With Specific Knowledge
25 Mar 2019
Contributed by Lukas
Arm yourself with specific knowledge. It can't be trained but it can be found by pursuing your genuine curiosity. • Arm yourself with specific knowl...
Partner With Rational Optimists
22 Mar 2019
Contributed by Lukas
Don't partner with cynics and pessimists. Their beliefs are self-fulfilling. • Don't partner with pessimists 0:00 • Partner with rational optimist...
Pick Partners With Intelligence, Energy and Integrity
22 Mar 2019
Contributed by Lukas
Picking partners with high intelligence, energy and integrity is the three-part checklist that you can't compromise on. • Pick business partners wit...
Play Long-term Games With Long-term People
19 Mar 2019
Contributed by Lukas
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...
The Internet Has Massively Broadened Career Possibilities
19 Mar 2019
Contributed by Lukas
The Internet has massively broadened the possible space of careers, by allowing you to scale any niche obsession. • The Internet has massively broa...
Give Society What It Doesn't Know How to Get
14 Mar 2019
Contributed by Lukas
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...
Live Below Your Means for Freedom
11 Mar 2019
Contributed by Lukas
People living far below their means enjoy a freedom that people busy upgrading their lifestyles just can't fathom. • People living below their mean...
You Won't Get Rich Renting Out Your Time
08 Mar 2019
Contributed by Lukas
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 you...
Make Luck Your Destiny
07 Mar 2019
Contributed by Lukas
Build your character in a way so luck becomes deterministic. • Build your character so luck becomes your destiny 0:00 • Build your character s...
Making Money Isn't About Luck
06 Mar 2019
Contributed by Lukas
Making money isn't about luck. It's about becoming the kind of person who makes money. • Making money isn't about luck 0:00 • Blind luck 0:46 •...
Free Markets Are Intrinsic to Humans
06 Mar 2019
Contributed by Lukas
We're the only animals who cooperate across genetic boundaries, because we can track credits and debits in voluntary exchanges. • Free markets are ...
Make Abundance for the World
05 Mar 2019
Contributed by Lukas
Wealth isn't about taking something from somebody else—it's about creating abundance for the world. • Ethical wealth creation makes abundance f...
Seek Wealth, Not Money or Status
05 Mar 2019
Contributed by Lukas
The difference between wealth, money and status. • Wealth is assets that earn while you sleep 0:56 • Money is how we transfer wealth 2:28 ...