The Naval Podcast – Play Long-term Games With Long-term People

Check out Naval’s Episode Page & Show Notes

This podcast clip is part of an ongoing conversation between Naval Ravikant and Babak Nivi. Unless otherwise noted, quotes are from Naval. For reference, check out Naval’s famous How to Get Rich tweet storm.

Key Takeaways

  • “All the benefits in life come from compound interest”
    • Whether it’s in relationships, life, your career, health, or learning
  • Long-term games are good for both compound interest AND trust
  • If you want to be successful, more likely than not, you’ll need to work with other people
    • You’ll need to figure out who you can trust over a long period of time, so you can keep working with them so that eventually compound interest will let you collect the major rewards
  • If you keep switching careers/networks – compound interest can’t take effect 
    • Add to that – you won’t know who to trust and your new network won’t know to trust you
  • “It’s important to pick an industry where you can play long-term games with long-term people”
  • A good analogy:
    • In a long-term game, everyone is making each other rich
      • It’s positive-sum
    • In a short-term game, everyone is making themselves rich
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