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Naval on getting rich, startups and investing. He’s the founder of AngelList and early investor in Uber, Twitter, and hundreds more

Naval on getting rich, startups and investing. He’s the founder of AngelList and early investor in Uber, Twitter, and hundreds more
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Location:

United States

Description:

Naval on getting rich, startups and investing. He’s the founder of AngelList and early investor in Uber, Twitter, and hundreds more

Twitter:

@naval

Language:

English

Contact:

+447871316808


Episodes

Business Models Have Their Own Leverage

4/22/2019
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Ideally, you should pick a business model with network effects, low marginal costs and scale economies. • Scale economies: the more you produce, the cheaper it gets 0:00 • Zero marginal cost of reproduction: producing more is free 0:51 • Network effects: value grows as the square of the customers 1:34 • Network effect businesses are natural monopolies 2:26 • In a network effect, each new user adds value to the existing users 3:06 • Zero marginal cost businesses can pivot into network...

Duration:00:05:46

Product Leverage Is Egalitarian in Its Outputs

4/19/2019
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Labor and capital are limited to the people who control those resources. But products reach global markets. • Product leverage is a positive-sum game 0:00 • Status goods are limited to a few people 0:57 • The best products tend to be targeted at the middle class 1:25 • Creating wealth with product leads to more ethical wealth 2:06 • You want to use the product that is used by the most people 3:06 • Capital and labor are becoming permissionless 4:24 Full show notes and transcript:...

Duration:00:05:10

Product and Media Are the Leverage of New Wealth

4/17/2019
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Product and media are the leverage of new wealth. Create software and media that work for you while you sleep. • Product and media are the new leverage 0:00 • Product leverage is where the new fortunes are made 0:55 • Combining all three forms of leverage is a magic combination 1:28 • Product and media leverage are permissionless 2:03 • The robots army is already here—code lets you tell them what to do 2:59 Full show notes and transcript: http://startupboy.com/2019/04/17/product-media

Duration:00:05:17

Labor and Capital Are Older Forms of Leverage

4/15/2019
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Wealth requires leverage. Labor and capital are older forms of leverage that everyone is fighting over. • Our brains aren't evolved to comprehend new forms of leverage 0:00 • Society overvalues labor leverage 1:08 • You want the minimum amount of labor that allows you to use the other forms of leverage 1:56 • Capital has been the dominant form of leverage in the last century 2:40 • You need specific knowledge and accountability to obtain capital 4:52 Full show notes and transcript:...

Duration:00:04:40

Take on Accountability to Earn Equity

4/13/2019
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If you have high accountability, you're less replaceable and you can get a piece of the business. • Accountability is how you're going to get equity 0:00 • Taking accountability is like taking equity in all your work 0:29 • The downside of accountability is not that large 2:11 • Accountability is reputational skin in the game 4:30 Full show notes and transcript: http://startupboy.com/2019/04/13/accountability-equity

Duration:00:04:55

Embrace Accountability to Get Leverage

4/11/2019
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Embrace accountability. Society will reward you with leverage. • You have to have accountability to get leverage 0:00 • Take business risks under your own name 0:54 • A well-functioning team has clear accountability for each position 2:09 • People who can fail in public have a lot of power 3:47 Full show notes and transcript: http://startupboy.com/2019/04/11/accountability-leverage

Duration:00:04:29

There's No Actual Skill Called Business

4/8/2019
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There's no actual skill called business. Avoid business schools and magazines. • There's no actual skill called business 0:00 • Doing is faster than watching 0:55 • The number of “doing” iterations drives the learning curve 2:49 • If you're willing to bleed a little every day, you may win big later 3:53 Full show notes and transcript: http://startupboy.com/2019/04/08/skill-business

Duration:00:05:32

The Ultimate Foundations Are Math and Logic

4/5/2019
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If you understand mathematics and logic, you have the basis for understanding everything else. • The ultimate foundations are math and logic: 0:00 • It’s better to read a great book slowly than to fly through a hundred books quickly: 1:22 • Learn persuasion and programming: 2:08 Full show notes and transcript: http://startupboy.com/2019/04/05/math-logic

Duration:00:03:19

Read What You Love Until You Love to Read

4/3/2019
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You should be able to pick up any book in the library and read it. • Read what you love until you love to read: 0:00 • Read the original scientific books in a field: 1:44 • Don't fear any book: 2:43 • The means of learning are abundant, the desire to learn is scarce: 3:54 Full show notes and transcript: http://startupboy.com/2019/04/03/love-read

Duration:00:04:47

Learn to Sell, Learn to Build—You'll Be Unstoppable

3/31/2019
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Learn to sell. Learn to build. If you can do both, you will be unstoppable. • Learn to sell, learn to build 0:00 • The Silicon Valley model is a builder and seller 1:07 • If you can do both you will be unstoppable 1:52 • I'd rather teach an engineer marketing than a marketer engineering 2:48 • Building is better when you're starting out, sales scales better over time 4:33 Full show notes and transcript: http://startupboy.com/2019/03/31/build-sell

Duration:00:05:35

Specific Knowledge Is Highly Creative or Technical

3/28/2019
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Specific knowledge tends to be creative or technical. It's on the bleeding edge of technology, art and communication. • Specific knowledge can be taught through apprenticeships 0:00 • Specific knowledge is often highly creative or technical 0:45 • Specific knowledge is specific to the individual and situation 2:02 • You can't be too deliberate about assembling specific knowledge 3:01 • Build specific knowledge where you are a natural 4:44 Full show notes and transcript:...

Duration:00:05:30

Arm Yourself With Specific Knowledge

3/25/2019
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Arm yourself with specific knowledge. It can't be trained but it can be found by pursuing your genuine curiosity. • Arm yourself with specific knowledge 0:00 • Specific knowledge can't be trained 1:47 • Specific knowledge is found by pursuing your curiosity 2:34 • Building specific knowledge will feel like play to you 3:53 Full show notes and transcript: http://startupboy.com/2019/03/25/specific-knowledge

Duration:00:06:19

Partner With Rational Optimists

3/22/2019
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Don't partner with cynics and pessimists. Their beliefs are self-fulfilling. • Don't partner with pessimists 0:00 • Partner with rational optimists 1:20 • We're descended from pessimists 2:28 • BOCTAOE 4:13 Full show notes and transcript: http://startupboy.com/2019/03/22/rational-optimists

Duration:00:05:24

Pick Partners With Intelligence, Energy and Integrity

3/22/2019
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Picking partners with high intelligence, energy and integrity is the three-part checklist that you can't compromise on. • Pick business partners with high intelligence, energy and integrity 0:00 • Motivation of the people you work with has to come intrinsically 1:18 • Integrity is what someone does, despite what they say they do 2:18 Full show notes and transcript: http://startupboy.com/2019/03/22/intelligence-energy-integrity

Duration:00:04:43

Play Long-term Games With Long-term People

3/19/2019
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Pick an industry where you can play long-term games with long-term people. All returns in life come from compound interest over many turns of the game. • Play long-term games with long-term people 0:00 • When you switch industries, you're starting over from scratch 2:21 • Long-term players make each other rich 4:02 • Returns come from compound interest in iterated games 4:49 Full show notes and transcript: http://startupboy.com/2019/03/19/long-term

Duration:00:06:01

The Internet Has Massively Broadened Career Possibilities

3/19/2019
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The Internet has massively broadened the possible space of careers, by allowing you to scale any niche obsession. • The Internet has massively broadened the possible space of careers 0:00 • The Internet allows you to scale any niche obsession 1:22 • Escape competition through authenticity 3:33 Full show notes and transcript: http://startupboy.com/2019/03/19/possible-careers

Duration:00:04:39

Give Society What It Doesn't Know How to Get

3/14/2019
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Society will pay you for creating what it wants, but doesn’t know how to get, and delivering it at scale. - Give society what it wants, but doesn't know how to get—at scale: 0:00 - Figure out what product you can provide and then figure out how to scale it: 0:57 Full show notes and transcript: http://startupboy.com/2019/03/14/product-scale

Duration:00:02:43

Live Below Your Means for Freedom

3/11/2019
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People living far below their means enjoy a freedom that people busy upgrading their lifestyles just can't fathom. - People living below their means have freedom: 0:00 - The most dangerous things are heroin and a monthly salary: 0:38 - Ideally, you'll make your money in discrete lumps: 1:17 Full show notes and transcript: http://startupboy.com/2019/03/11/salary-freedom

Duration:00:02:21

You Won't Get Rich Renting Your Time

3/8/2019
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You won't get rich renting out your time, because you can't earn non-linearly. - You won't get rich renting out your time: 0:00 - Renting out your time means you're essentially replaceable: 1:23 - You must own equity to gain your financial freedom: 2:17 - You want a career where your inputs don't match your outputs: 2:41 Full show notes and transcript: http://startupboy.com/2019/03/08/renting-time

Duration:00:04:39

Make Luck Your Destiny

3/7/2019
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Build your character in a way so luck becomes deterministic. - Build your character so luck becomes your destiny: 0:00 - Build your character so opportunity finds you: 1:12 - You have to be a little eccentric to be out on the frontier by yourself: 2:39 Full show notes and transcript: http://startupboy.com/2019/03/07/luck-destiny

Duration:00:04:34