Naval

Episodes page 3 of 4

1. Work the Least for It

   19 Feb 2020 · 1:53

   Happy people don't have to work as hard. Transcript: http://nav.al/least

2. Being Unhappy Is Very Inefficient

   17 Feb 2020 · 1:47

   If you're a driven, unhappy person, your mind will be on 24/7. Transcript: http://nav.al/inefficient

3. If You're So Smart, Why Aren't You Happy?

   12 Feb 2020 · 2:53

   You can increase your happiness without losing your drive. Transcript: http://nav.al/smart

4. Desire Is a Contract You Make to Be Unhappy

   10 Feb 2020 · 1:09

   Happiness is returning to a state where nothing is missing. Transcript: http://nav.al/desire

5. Happiness Is a Skill You Can Develop

   3 Feb 2020 · 1:16

   You're not stuck at your current level of happiness. Transcript: http://nav.al/skill

6. Happiness Is Not Science or Math

   28 Jan 2020 · 1:28

   Happiness is more like poetry than algorithms. Transcript: http://nav.al/math

7. Happiness Without Material Comfort Is Playing on Hard Mode

   28 Jan 2020 · 2:20

   It's easier to fulfill your material desires than to renounce them. http://nav.al/material

8. Live Long Enough and You'll Become a Philosopher

   25 Jan 2020 · 1:37

   This podcast is a practical philosophy of health, wealth and happiness. Transcript: https://nav.al/philosopher

9. How to Get Rich: Every Episode

   10 Dec 2019 · 3 h 36 min

   This giant episode collects every interview I've done on "How to Get Rich." It includes 10 minutes of unreleased material—at the end—on "Finding Time to Invest in Yourself." Transcript: http://nav.al/rich Seek…

10. How to Angel Invest, Part 1

    17 Nov 2019 · 39 min

    Excerpted from the Spearhead podcast: http://spearhead.co

11. Externalities: Calculating the Hidden Costs of Products

    31 Jul 2019 · 1:43 · Episode 51

    Externalities let you account for the true cost of products by including hidden costs like environmental damage. • Pricing externalities properly is more effective than feel-good measures 0:32 • Properly pricing…

12. Net Present Value: What Future Income Is Worth Today

    29 Jul 2019 · 1:02 · Episode 50

    Calculate what future income is worth today by applying a discount to its future value. • Figure out what future income is worth today by applying a discount rate 0:00 Transcript: http://nav.al/npv

13. Consumer Surplus: Getting More Than You Paid For

    25 Jul 2019 · 0:49 · Episode 49

    A lot of people are willing to pay more than what companies charge. • Consumer surplus is the extra value you get when you pay less than you were willing 0:00 Transcript: http://nav.al/surplus

14. Price Discrimination: Charge Some People More

    23 Jul 2019 · 1:10 · Episode 48

    You can charge people for extras based on their propensity to pay. • Price discrimination is a technique for charging certain people more 0:00 • Rich people and large enterprises are willing to pay more 0:51…

15. Compounding Relationships Make Life Easier

    19 Jul 2019 · 2:29 · Episode 47

    Life gets a lot easier when you know someone's got your back. • Compounding relationships make life easier 0:00 • It's better to have a few compounding relationships than many shallow ones 1:11 • It takes just as…

16. Turn Short-Term Games Into Long-Term Games

    15 Jul 2019 · 2:42 · Episode 46

    Improve your leverage in negotiations by turning short-term relationships into long-term ones. • Pareto optimal solutions require a trade-off to improve any criterion 0:00 • Negotiations are won by whoever cares less…

17. Schelling Point: Cooperating Without Communicating

    12 Jul 2019 · 1:39 · Episode 45

    People who can't communicate can cooperate by anticipating the other person's actions. • Use social norms to cooperate when you can't communicate 0:00 • You can find Schelling points in business, art and politics…

18. Kelly Criterion: Avoid Ruin

    10 Jul 2019 · 1:42 · Episode 44

    Don't ruin your reputation or get wiped to zero. • Don't bet everything on one big gamble 0:00 • Ruining your reputation is the same as getting wiped to zero 0:54 Transcript: http://nav.al/kelly-criterion

19. Principal-Agent Problem: Act Like an Owner

    8 Jul 2019 · 6:42 · Episode 43

    If you think and act like an owner, it's only a matter of time until you become an owner. • A principal is an owner; an agent is an employee 0:00 • A principal's incentives are different than an agent's incentives…

20. Envy Can Be Useful, or It Can Eat You Alive

    28 Jun 2019 · 3:29 · Episode 42

    Envy can give you a powerful boost, or it can eat you alive if you let it follow you. • Suffering through the wrong thing can motivate you to find the right thing 0:00 • Being a lawyer was not what I was meant to do…

21. Being Ethical Is Long-Term Greedy

    26 Jun 2019 · 3:26 · Episode 41

    If you cut fair deals, you will get paid in the long run. • Ethics isn't something you study; it's something you do 0:00 • Trust leads to compounding relationships 0:51 • Being ethical attracts other long-term…

22. We Should Eventually Be Working for Ourselves

    24 Jun 2019 · 4:27 · Episode 40

    The goal is that we are eventually wealthy and working for ourselves. • This advice is for anybody who wants to be entrepreneurial 0:00 • Middle age can be the most fruitful time to apply this advice 0:48 • Look up…

23. Accountability Means Letting People Criticize You

    21 Jun 2019 · 3:39 · Episode 39

    Misunderstanding accountability, and other mistakes on the path to creating wealth. • Accountability means letting people criticize you 0:00 • The most interesting parts should be the ones you disagree with 1:06 •…

24. How to Get Rich: Every Episode

    2 Jun 2019 · 3 h 36 min

    This giant episode collects every interview I've done on "How to Get Rich." It includes 10 minutes of unreleased material—at the end—on "Finding Time to Invest in Yourself." Transcript: http://nav.al/rich Seek…

25. Productize Yourself

    24 May 2019 · 1:55 · Episode 37

    Figure out what you're uniquely good at and apply as much leverage as possible. • Figure out what you're uniquely good at and apply as much leverage as possible 0:00 • Find hobbies that make you rich, fit and…

26. There Are No Get Rich Quick Schemes

    23 May 2019 · 4:41 · Episode 36

    Get rich quick schemes are just someone else getting rich off you. • There are no get rich quick schemes 0:00 • We don't have ads because it would ruin our credibility 0:56 • Every founder has to lie to every…

27. A Calm Mind, a Fit Body, a House Full of Love

    21 May 2019 · 4:07 · Episode 35

    When you're finally wealthy, you'll realize it wasn't what you were seeking in the first place. • When you're wealthy, you'll realize it wasn't what you were seeking 0:00 • A calm mind, a fit body and a house full of…

28. Reject Most Advice

    20 May 2019 · 2:55 · Episode 34

    Most advice is people giving you their winning lottery ticket numbers. • The best founders listen to everyone but make up their own mind 0:00 • Advice is maxims you can recall later, when you get your own experience…

29. Eventually You Will Get What You Deserve

    19 May 2019 · 4:08 · Episode 33

    Apply specific knowledge with leverage and eventually you will get what you deserve. • On a long enough time scale you will get paid 0:00 • What are you really good at that the market values? 1:59 Transcript:…

30. Play Stupid Games, Win Stupid Prizes

    17 May 2019 · 2:39 · Episode 32

    Competition will blind you to greater games. You're one step away from a better market. • Businesses that seem like they're in direct competition really aren't 0:00 • My first company got caught up in the wrong game…

31. Escape Competition Through Authenticity

    16 May 2019 · 5:37 · Episode 31

    Competition can make you play the wrong game. No one can compete with you on being you. • Competition will trap you in a lesser game 0:00 • No one can compete with you on being you 1:27 • In entrepreneurship, the…

32. Keep Redefining What You Do

    13 May 2019 · 2:04 · Episode 30

    Become the best in the world at what you do. Keep redefining what you do until this is true. • Keep redefining what you do until you're the best at what you do 0:00 • Find founder-product-market fit 1:35 Transcript:…

33. Be Too Busy to "Do Coffee"

    8 May 2019 · 4:06 · Episode 29

    You should be too busy to "do coffee", while still keeping an uncluttered calendar. • Be too busy to "do coffee" while keeping an uncluttered calendar 0:00 • People will meet with you when you have proof of work 2:00…

34. Work As Hard As You Can

    6 May 2019 · 5:09 · Episode 28

    Work as hard as you can. Even though what you work on and who you work with are more important. • Work as hard as you can 0:00 • But what you work on and who you work with are more important 1:00 • Nobody really…

35. Set an Aspirational Hourly Rate

    1 May 2019 · 3:48 · Episode 27

    If outsourcing a task will cost less than your hourly rate, outsource it. • Set and enforce an aspirational hourly rate 0:00 • You can't penny pinch your way to wealth 1:27 • My aspirational rate was $5,000/hr 1:56…

36. Judgment Is the Decisive Skill

    29 Apr 2019 · 6:30 · Episode 26

    Everything we've discussed so far has been setting you up to apply judgment. • In an age of infinite leverage, judgment becomes the most important skill 0:00 • Everything else you do is setting you up to apply…

37. Example: From Laborer to Real Estate Tech

    26 Apr 2019 · 5:24 · Episode 25

    The continuum from laborer to real estate tech company goes from low accountability to high specific knowledge, accountability and leverage. • Laborers get paid hourly and have low accountability 0:19 • General…

38. Pick a Business Model With Leverage

    22 Apr 2019 · 5:47 · Episode 24

    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:…

39. Product Leverage Is Egalitarian

    19 Apr 2019 · 5:11 · Episode 23

    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…

40. Product and Media Are New Leverage

    17 Apr 2019 · 5:18 · Episode 22

    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…

41. Labor and Capital Are Old Leverage

    15 Apr 2019 · 4:42 · Episode 21

    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 •…

42. Take Accountability to Earn Equity

    13 Apr 2019 · 4:56 · Episode 20

    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…

43. Embrace Accountability to Get Leverage

    11 Apr 2019 · 4:30 · Episode 19

    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…

44. There's No Actual Skill Called Business

    8 Apr 2019 · 5:33 · Episode 18

    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…

45. The Foundations Are Math and Logic

    5 Apr 2019 · 3:19 · Episode 17

    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…

46. Read What You Love Until You Love to Read

    3 Apr 2019 · 4:48 · Episode 16

    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…

47. Learn to Sell, Learn to Build

    31 Mar 2019 · 5:36 · Episode 15

    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…

48. Specific Knowledge Is Highly Creative or Technical

    28 Mar 2019 · 5:31 · Episode 14

    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…

49. Arm Yourself With Specific Knowledge

    25 Mar 2019 · 6:20 · Episode 13

    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…

50. Partner With Rational Optimists

    22 Mar 2019 · 5:25 · Episode 12

    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…