Words Into Works 35 | Naval Ravikant on How to Get Rich (Without Getting Lucky)

To get rich, says Naval Ravikant, we must seek specific knowledge, accountability, and leverage.

Pursue your genuine curiosity and passion rather than whatever is hot right now. Specific knowledge is often highly technical or creative and cannot be outsourced or automated. 

Take business risks under your name as much as possible. Take credit when things go well and ownership when things go wrong. Society rewards those with responsibility, equity, and leverage.   

Levage comes in the form of labor, capital, or through code or media. Labor requires followers. Capital requires leaders. Code or media, however, are permissionless and work while you sleep.

You will not get rich by renting out your time. To gain financial freedom, you must own equity—a piece of a business. Give society what it wants but does not yet know how to get at scale.