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. @naval's First Periscope "you can’t get rich by renting out your time. Is there really any other way to get rich? Yeah"
A THREAD:::
A THREAD:::
"You basically get rewarded by society for giving it what it wants, and it doesn’t know how to get elsewhere."
"A lot of people think you can go to school and you can study for how to make money, but the reality is, there’s no skill called “business.”
"What you’re actually trying to figure out is, what product or service does society want but does not yet know how to get? You want to become the person who delivers that and delivers it at scale."
"You want to know how to do something that other people don’t know how to do, at the time period when they want."
"You have to have a brand and a reputation. The most powerful brands and reputations in the world are our individual brands, like Oprah, Trump, Cher, single names, Naval."
"There are three broad classes of leverage. One form of leverage is going to be labor, which is the oldest form of leverage, which is other humans working for you."
"Then there’s capital, which is a more recent invention—it’s only about a few thousand years ago; it goes back to the agricultural age—and that’s money. If you have money as a form of leverage, that’s a good one."
"Then the final form of leverage is a brand new form of leverage. That’s the most democratic one. That is, products that have no marginal cost of replication. That would include books, it would include media, it would include movies, it would include code."
"If you just want to get rich over your life and you want to do it in a deterministic predictable way, what you would do is, you would basically stay on the bleeding edge of trends and you’d study technology and yes, design and art and you become really good at something."
"The maximum leverage would mean that you would have people working
for you. It would mean you would have a funding, you would have capital. It would mean that you’d be writing a book, it would mean that you’d be writing code and that you’d be building a media presence."
for you. It would mean you would have a funding, you would have capital. It would mean that you’d be writing a book, it would mean that you’d be writing code and that you’d be building a media presence."
