The Naval Podcast – There Are No Get Rich Quick Schemes

Check out Naval’s Episode Page & Show Notes

This podcast clip is part of a 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

  • “There are no get rich quick schemes. That’s just someone else getting rich off you.”
    • Most of the time when someone’s selling you a “here’s how to get rich” product, that’s just the other person making money off you
  • Credibility is important when producing a “how to get rich” based product 
    • Try to only read things on this topic by people who have made their wealth in other fields, not by selling “how to get rich” products
  • When Naval was younger, one of his favorite books was How to Get Rich by Felix Dennis 
  • At some level, every founder has to lie to every employee of the company. They have to convince them that it’s better to work for the company than it is to do what the founder did and work for themselves.
  • If anyone is giving advice on how to get rich and they’re also making money off of it, they should have made their money elsewhere”
    • You don’t want to learn how to get rich from a poor person, how to be fit from a fat person, or how to be happy from a depressed person
  • Just remember that in any random process, if you run it long enough and if enough people participate in it, you will always get every single possible outcome
    • To learn more about randomness, check out the highly recommended book – Fooled By Randomness by Nassim Taleb
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