“How to Get Rich (without getting lucky)” by Naval Ravikant (Summary & Infographic)

Everyone wants to know how to solve their money problems, but most don’t have a good set of principles for wealth.

• “In this tweetstorm I put down the minimum-viable principles.”
• “(Wealth creation is) a skill set that I’ve developed and I think anyone can develop.”

If you want to be wealthy and free:

• “It is merely a question of education and desire.“
• “You can penny-pinch your way to basic sustenance. You can keep expenses low and maybe retire early. That’s perfectly valid. But we’re here to talk about wealth creation.“

Who is this for?

• “I think it’s good for anybody who wants to be entrepreneurial. Anybody who wants to control their own life. Anybody who wants to deterministically and reliably improve their ability to create wealth over time, is patient, and is looking at the long haul.”
• “There are many different ways to participate. It should apply to almost everybody who has a complete body, sound mind, and is looking to work.”

Let’s dive in.

Money & Wealth

Mythbusting Traditional Work:

This is probably one of the absolute most important points. 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.

• You’re not going to get rich renting out your time.
• You really just want a job, career, or profession where your inputs don’t match your outputs. The higher the creativity component, the more likely it is to have disconnected inputs and outputs. This is another way of saying that you want to look for things that are leveraged.
• Tools and leverage are what create the disconnection between inputs and outputs.

Human Cooperation & Exchange:

The notion of exchange, and keeping track of credits and debits, this is built into us as flexible social animals.

• We are the only animals in the animal kingdom that cooperate across genetic boundaries.