Check out Naval’s Episode Page & Show Notes
This podcast clip is part of a conversation between Naval Ravikant (@naval) and Babak Nivi (@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