Finally got to watch the @Naval periscope. Here are the bits that spoke to me. The storm already happened. Just tweeting it here. Includes his outline on #HowToGetRich. This is ‘Naval through the looking glass’. Caveat: not a direct transcription.
Once you figure it (crypto) out, it’s hard to think of anything else that’s as important. – N
Anyone interested in the intersection of politics, economics, tech, finance, will be drawn to the cryptocurrency and blockchain rabbit hole. – N
We’ve created something that’s larger than ourselves. We’re collectively figuring out how it works, how to describe it, what it’s properties are. – N
When the major governments of the world realise what crypto is capable of, a number of them are going to reject it. – N
1/12 #HowToGetRich You have to get rewarded by society for giving it what it wants and it doesn’t know how to get elsewhere. – N
2/12 #HowToGetRich You want to become the person who delivers it, and delivers it at scale. – N
3/12 #HowToGetRich The ‘it’ moves around from generation to generation, but a lot of it happens to be in technology. – N
4/12 #HowToGetRich A key is specific knowledge– that only you know or a handful of people know. Oddly enough, this is going to come out of your hobby or your passion. – N
5/12 #HowToGetRich You develop passions for things you can’t train other people how to do. Because if you can, then it can replace you. – N
6/12 #HowToGetRich The most powerful brands and reputations are individual reputations – Oprah, Trump…Naval . – N
7/12 #HowToGetRich Branding yourself doesn’t come free. It has accountability on the other side of it. – N
8/12 #HowToGetRich Last piece is you have to have leverage. This is critical. – N
9/12 #HowToGetRich Three kinds of leverage – labour, the oldest form, unsuitable for this age. Capital, which is money, which is good, helps you multiply, amplify. – N
10/12 #HowToGetRich The final form is new – products that have no marginal cost of replication – books, media…and code. – N
11/12 #HowToGetRich Code is permissionless. You wanted to get rich in a deterministic way, stay on the bleeding edge of trends. Study tech, design, art. Get really get good at something until you get uniquely qualified. – N
12/12 #HowToGetRich Give yourself for free, build your brand. When the opportunity arrives, you would have maximum leverage. People working for you, capital, you’d have a book, code, media presence. – N
Spend more time, a year, two, on making the big decisions – where you live, who you’re with, what you’re doing. – N
The world will assault you with its own agenda. You have to say no to everything and free up your time so you can solve the big problems. – N
Spend time perfecting your desires. When there’s desire, you won’t need discipline. – N
I’d tell my younger self – eat healthier and work out more. Have better emotional control. Do all the same things you were going to do, but do them with less emotion. – N
Star Trek is for thinking people. Star Wars is for ‘feeling’ people. – N
If I had to liquidate all but one, I’d keep bitcoin. – N
Love, friend, happiness. These are overloaded words. We ought to have 50 different words for them but we only have one. – N
Hard work is overrated. Judgment is underrated. Especially in this age of leverage. Picking the direction you’re heading in is more important the force you apply. – N
This was a pleasure. Please feel free to tweak any misinterpretations. Freshly minted beliefs sometimes interfere with the listening.
