BC LIFE
Saved by @CodyyyGardner

I've been studying @naval for years now.

I've read "The Almanack," listened to the full 3.5 hours of "How to Get Rich," absorbed his best podcasts, pondered countless tweets, and more.

Here are 20 highlights you should know (thread 👇):

 Sources:
Paradoxes:

"Answers to all the great questions are paradoxes … Pursuing them is actually really useful because then it gives you certain intrinsic understanding in your life that brings a level of peace." — @naval
Meaning:

"I think the closest I can articulate ... is to keep growing and learning in the short period of time that you have. To seek truth and to accept things the way they are. To see the world the way it really is. Then, just to live your life." — @naval
Desire:

If @naval could put on thing on a billboard, it would be:

"Desire is a contract you make with yourself to be unhappy until you get what you want."
Most Common Mistake:

"I think the most common mistake for humanity is believing you’re going to be made happy because of some external circumstance." — @naval
Happiness:

@naval's most surprising discovery in the last five years is that peace & happiness are skills & choices:

"The most important trick to being happy is to realize happiness is a skill you develop and a choice you make. You choose to be happy, and then you work at it."
Peace:

"Peace is happiness at rest, and happiness is peace in motion. You can convert peace into happiness anytime you want. But peace is what you want most of the time. If you’re a peaceful person, anything you do will be a happy activity." — @naval
Social Programming:

"You have to be very careful because sometimes the voices talking in your head that you think is you is actually social programming." — @naval
Single-Player Reprogramming:

"Life is really a single-player game. It’s all going on in your head. Whatever you think and believe will very much shape your reality." — @naval
Advice to his Younger Self:

"Be exactly who you are." — @naval
Big Life Decisions according to @naval :

- What you do
- Who you spend time with
- Where you live

Big Getting Rich Decisions:

- Knowing what to do
- Who to do it with
- When to do it
Priorities for @naval:

- Health (Physical, Mental, Spiritual)
- Happiness
- Love / Family
- Mission / Work
- Wealth
Most Important Skill (for getting rich):

"Becoming a perpetual learner. You have to know how to learn anything you want to learn." — @naval

Ultimate Meta-Skill:

"Reading (learning) is the ultimate meta-skill and can be traded for anything else." — @naval
Additional skills @naval mentions:

- Reading
- Writing
- Arithmetic
- Persuasion (which is talking)
- Computer Programming (an applied form of arithmetic)
- Execution (getting things done, solving problems)
- Wealth creation / making money
Subjects to study according to @naval:

- Read originals & classics

- Read the greats in math, science, philosophy

- Microeconomics, game theory, psychology, persuasion, ethics, computers

- Evolution, thermodynamics, information theory, complexity
Money:

"Money is not going to solve all of your problems; but it’s going to solve all of your money problems." — @naval

Wealth:

"My definition of wealth is oriented toward businesses and assets that can earn while you sleep." — @naval
Most Important Point:

"You’re probably not going to create wealth through work. There are many reasons for that, but the most basic is because your inputs are very closely tied to your outputs. You can’t earn non-linearly." — @naval
Entrepreneurship according to @naval is essentially an act of:

- Creating something new from scratch

- Predicting that society will want it

- Figuring out how to scale it and get it to everybody in a profitable, self-sustaining way
Your eventual outcome according to @naval will be the result of:

- You love to do it
- It’s natural and authentic to you
- You know how to do it the best
- Society wants it but doesn’t know how to get it
- Demonstrated judgment
- High accountability
- Leverage
- Long timescale
Find Founder-Product-Market Fit:

"The combination of the three should be your overwhelming goal. The most important thing for any entrepreneur is to find founder-product-market fit." — @naval
Long-Term Compounding:

"Impatience with actions, patience with results. I think that’s a good philosophy for life." — @naval

All the benefits & returns in life come from compounding:

- Wealth
- Relationships
- Love
- Health
- Habits
- Learning
- Reading
- Knowledge
- Creating

More from Life

John Hayward
John Hayward
@Doc_0
In the space of half a year, a new class division was ripped through American society: those who can live normally through pandemic lockdowns and restrictions versus those who can't. The two sides have a great deal of difficulty communicating across that chasm.

Of course, media and political elites are, at worst, inconvenienced by lockdowns, so news coverage is heavily slanted against the people who are really suffering from these policies. They're already as forgotten as the designated losers of globalist trade policy.

Spend a day watching mainstream media pandemic coverage, then spend the evening with people whose livelihoods have been utterly ruined by pandemic restrictions. It's like traveling from the Earth to Mars. Completely different worlds, totally different outlooks.

It's exactly like the divide between "free trade" winners and losers, people living in comfortable financial and media bubbles vs. people living in hollowed-out ghost towns with skyrocketing mortality rates. The Wuhan virus gave us a new, even bigger class of Designated Losers.

The new class divide cracked open along some economic and social fault lines that were already present and deepening, such as the growing number of people who preferred minimizing human contact while socializing online. It really is the social schism of the new century.
LIFE
Erik Torenberg
Erik Torenberg
@eriktorenberg
1/ Some initial thoughts on personal moats:

Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.

Characteristics of a personal moat below:


2/ Like a company moat, you want to build career capital while you sleep.

As Andrew Chen noted:


3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized

Things that might get commoditized over time (some longer than


4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.

After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.

5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.

In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
LIFE
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Pat Walls
Pat Walls
@thepatwalls
If you have less revenue/growth/success than you wish you had, then the best thing you can do is OWN IT.

Write a tweet, tell your friends, and move on.

Once you own it, you fix it.

99% of people on Twitter/social media/internet won't do this.

Being radically transparent and honest is a competitive (and life) advantage.

From @RayDalio's Principles:


My new product has 14 users and <$400 monthly revenue. I've spent the last 4 months on it.

I'm going through a lot of pain to validate and grow it.

But if anyone asks me how it's going I will tell them exactly that.

If I asked them, I would hope they would give me the raw truth as well. Truth builds trust.

I think that goes for your internet audience as well. Authenticity is attractive.

I see this with @starter_story all the time - people don't want to share their revenue yet because they don't have any, or it's not high enough (not all cases but often).

I wish I could tell them that getting the cat out of the bag would actually fix the problem itself!!
LIFE
Fred Guttenberg
Fred Guttenberg
@fred_guttenberg
Dear Jaime,

3 years ago your voice was silenced. I sent you and your brother to school to safely learn. I rushed you out the door that morning never expecting what would happen next. A school shooting!!! You were 14 and only a freshman in High School.

(1,11)


(2,11) Your brother Jesse survived…you did not.

You are on my mind every second of every minute of every day. I constantly relive your last seconds in my mind. Did you suffer? I will never know, but I fear that you did. Did I do enough to protect you?


(3,11) The answer is… No!!! I did not… and for that I will carry guilt for the rest of my life. My voice was not fighting the evil of gun violence before it was my daughter and for that I am sorry.

Today you should be a senior in school. We should be celebrating love.


(4,11) We should be looking at your senior pictures with you, watching you excitedly apply to colleges and helping you decide where to go. We should be excitedly looking forward to prom and I should be thinking about the advice I want to give you at graduation.


(5,11) While I am so happy to see all of your friends have these experiences, it breaks my soul to know that you are not part of that. Mom, Jesse and I won’t be able to watch you experience this with them. Every time I see posts with senior photos and college acceptances,
LIFE
Luke Button
Luke Button
@iamlukebutton
This month I’m turning 22.

To celebrate, here are the 22 best threads I’ve found on Twitter this year.

Mostly about:

•Life/purpose
•Startups
•Entrepreneurs
•Writing
•Clarity of thought

If I see more interesting threads, I will add to this list.

Enjoy!

1. @ryanstephens: Need tips on growing a newsletter, mastering Twitter, writing online?

@ryanstephens breaks down a podcast discussion between @davidperell and @nathanbarry

Here’s what you can


2. @jackbutcher: How to separate your time from your income

•Explore the market
•Build equity
•Build products and services
•Scale your reputation
•Break the matrix

A fantastic thread complete with helpful


3. @AlexAndBooks_: I love to read.

Here is a great thread on 10 fantastic books.

Includes a short summary of each.

Don’t just take it from me, this is straight from the legend: @AlexAndBooks_


4. @m_franceschetti My biggest revelation in 2020 was the importance of sleep.

Here, @m_franceschetti founder of @eightsleep gives us his eight sleep hacks to improve sleep for 2021.

Do these and your productivity will
LIFE

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In 1937, a trucker got frustrated waiting for his cargo to be unloaded. He later sold his company for $1.1 billion.

Here’s the story of how Malcom McLean made a billion dollars and which startup could be following in his footsteps. (Inspired by our episode with @laurabehrenswu)


In the early 1950s, the shipping industry was a dying business.

New York’s docks were handling half as much domestic cargo in the early 1950s as they had been in the depressed 1930s.

In thirty years, no one had invested significant money in coastal shipping.

Why?

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A truck or train would deliver items to the port. Each item was unloaded separately, recorded, and carried to storage.

When a ship was ready, each item was taken from storage, counted again, and hauled on-board.


The cost of this labor was significant. As one expert at the time explained:

“A four-thousand-mile voyage for a shipment might consume 50 percent of its costs in covering just the two ten-mile movements through two ports.”


Yet, despite the industry’s issues, it felt little pressure to change.

Foreigners were barred from operating domestically. Cartels ran international routes. And gov. subsidies eased the pain of labor costs.

Reshaping the industry needed an outsider.

Enter Malcolm McLean.
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Suhas S. Hardutt
@HarduttSuhas
THE BATTLE OF PRATAPGARH (10 Nov, 1659)

Chhatrapati Shivaji Maharaj's impeccable military genius and matchless courage humbled the Adil Shahi Sultanate.

The beginning of what was to come later for the M0ghuls from one of the most indefatigable defenders of Dharma!

(Thread)


Shivaji’s growing influence in Maval region, made him a threat to the Adil Shahi ruler of Bijapur who sought to restrain him. The man who was given the responsibility of this mission, was their commander, Afzal Khan. Afzal was a formidable warrior known for his ruthlessness.(1)

His strategy was to bring Shivaji out into the plains, where he held an advantage, compared to the rocky Deccan terrain. Afzal attacked the holy town of Pandharpur, and later demolished the temple of Bhavani at Tuljapur to instigate Shivaji in a bid to bring him out.(2)

Shivaji was angry but remained patient. Knowing that he could not defeat Bijapuri Sultanate in an open battle, Shivaji moved to Pratapgarh fort, located on rocky heights, surrounded by thick forests of Jawali.(3)

This set the pattern for future Maratha attacks, using guerrilla warfare against larger invading armies rendering them ineffective in unfavorable terrain.(4)
HISTORY
Shaan Puri
Shaan Puri
@ShaanVP
If you're a college student who wants to pay off all your loans... here's an idea for you:

It takes ~$5k to start and will make ~$30k a year of profit

It won't get you rich, it'll pay for college.

(..and will teach them more about business than they’ll learn in school)

The idea isn’t sexy. But it works:

**Plastic Moving Bin Rentals**

Everyone knows moving sucks. The worst part is being stuck with 400 cardboard boxes at the end of your move.

Instead - @benmlevy told me about Gorilla Bins. They dropoff plastic moving bins, & pickem up later.


Let’s break it down. Our goal is to pay for college (~$30k profit per year).

To do that, I think we’ll need $50k in revenue.

The avg move (a 2 bedroom apartment) is $180

To hit our goal, we need do ~5.5 moves per week

COSTS?

How many bins do we need to buy up front?

5.5 moves a week x 50 bins = you need 275 bins. Let’s round up to 300 to be safe.

Ok let’s hop over to @uline to see how much these bins cost

Bingo. Bins cost about $15 a piece.

$15 x 300 bins = $4,500 initial startup costs.

Time to beg your parents or a rich aunt to lend you money to get the biz rolling (...or just take $5k of student loan money and invest it here…)
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Professor
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@DillikiBiili
Some ofthe biggest breakouts occur after Volatility Contraction, the analogy is that more a spring is pressed, higher it jumps whenever it gets released.

There is a VCP Scanner on chartink (Not mine). This may also be used to find potential Breakouts.
SCREENERS , TA SCREENERS