The Almanack of @naval put together by @EricJorgenson might just be the most important book I've ever read.

There's no other resource that's as valuable to a 24 year old who's trying to make an impact on this world.

Here's some of what I learned.
1/ Naval tells us how to build wealth, but what he's really providing is a road map on how to be useful.

Everyone should aim to be wealthy. The reward lies not in the destination having material comforts and luxury, but the journey of becoming someone who provides value.
2/ People talk about putting in your 10,000 hours, but they don't really tell you where to invest that in.

You start by acquiring specific knowledge.

This is something that's a combination of your DNA, your personality, your upbringing, and your response to it.
3/ Specific knowledge is hard to acquire.

Or at least it should look that way to an outsider. They'd wonder how you do these things. But in reality, it's never been difficult to you because you have an innate talent and genuine curiosity for it.

Work to others, play to you.
4/ It's not only important to keep learning, but also to be able to learn fast.

Things move so quickly, and you need to keep up. The best way to do that is to be strong in your foundations because so many things branch from the same few principles.
5/ Developing skills is not enough. You also need to be able to apply them as rapidly and broadly as possible. That requires leverage.

Leverage comes in three broad forms:

1) Labour
2) Money
3) Technology

The first two are great, but doesn't come close to the last one.
6/ Labour needs no explanation.

What's interesting is that we value this form of leverage the most even though it's the worst form of leverage today. The reason is because most of us are playing zero-sum status games.

Avoid that at all costs.

7/ Capital is a much better form of leverage.

It doesn't take much more effort to manage 100 million than 1 million. But you and I aren't Warren Buffett. We don't have capital lying around, nor the credibility to raise it.

This leaves us with only the last form of leverage.
8/ The last form of leverage is technology.

I use this term in the context of applied science. It involves everything from books, to media, and to code.

The essential trait of these products is that they have no marginal cost of replication. This is leverage anyone can use.
9/ Technology as a form of leverage is so powerful because it's permissionless.

Naval puts it this way: "Now, you can multiply your efforts without involving other humans and without needing money from other humans."

No more gatekeepers that will get in your way.
10/ Leverage opens up a world of possibilities.

You can now be paid for your judgement instead of your work. There's no longer a need to trade time for money. If you know what you're doing, you can just set it and forget it.

11/ If leverage helps you get to a destination faster, accountability makes sure you stay on track.

It obviously helps in building trust and gaining access to labour and capital. But more importantly, it keeps you honest with yourself.

Have skin in the game.
12/ Don't be in a rush to get what you want.

The other side of leverage is risk, and so while there's a lot of opportunity out there, there are also a lot of pitfalls.

Watch out for black swans. You can only win if you avoid ruin.
13/ Even if you make all the right decisions, things can still go wrong for you.

It's a difficult lesson to stomach because it shows how much is left to luck. But it also means that there are very few things you do that matter.

Go all in on them.

14/ Perhaps the most important lesson is to realise that most of the rewards will only come decades from now.

Even with all the skills and leverage you have, the real magic still lies in the compounding process.

Play the long game, and never cheat on the process.

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