July 19, 2019
The Naval Podcast – Compounding Relationships Make Life Easier
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
- Relationships are a good example of compound interest
- Once you’ve been in a good relationship with somebody for a while, whether it’s business or romantic, life gets that much easier
- Trust makes it MUCH easier to do business
- Once you’ve been in a good relationship with somebody for a while, whether it’s business or romantic, life gets that much easier
- “I think the number one most under-recognized reason why startups fail is because the founders fall apart”
- Removing the frictional mechanisms of struggling relationships can be the difference between success and failure of a startup
- Remember – Most of the benefits of compounding come at the end of the compounding, so you may not necessarily see huge benefits up front
- “I think it’s better to have a few deep compounding relationships with people instead of a large number of non-compounding relationships” – Nivi
- “I think one of the under-realized things in business is that it takes just as much effort to create a small business as it does to create a large business”
- So you might as well THINK BIG
- A successful tech startup can make millions or billions
- A successful restaurant on the other hand…
- So you might as well THINK BIG
