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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.
- “Give me a lever long enough, and a place to stand, and I will move the Earth” – Archimedes
- “Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication.”
- Labor is the oldest form of leverage
- Ex. – Having X amount of people work under you
- But society overvalues labor as a form of leverage – why?
- Mainly – managing other people is messy and requires tons of leadership skills
- Aim to instead have the minimum amount of people working for you which will allow you to use the other forms of leverage (below)
- Capital is a more preferable, and probably the most powerful, form of leverage
- But how do you obtain capital?
- “If you have specific knowledge in a domain, are accountable, and have a good name in that domain – people are going to give you capital as a form of leverage which you can use to then go get more capital”
These notes were edited by RoRoPa Editing Services