wealth
5 sources · 13 notes on this topic.
The Almanack of Naval Ravikant
Wealth is what works while you sleep; happiness is a skill you practice — and neither is luck if you set them up right.
The Leverage Field Manual
Effort is bounded by hours in the day; the multiplier you apply it through is not.
The Mathematical Reason Most People Never "Make It"
The square root of the people in a domain produce half its output — and you cannot know in advance which root you are.
The Psychology of Money
Doing well with money has little to do with what you know and almost everything to do with how you behave.
The Intelligent Investor
Investing is not about beating the market — it is about not being talked out of your own analysis by a manic man quoting you prices.
Ideas
13 notesTake accountability under your own name: the downside of being wrong is capped, the upside of being right publicly compounds.#accountability
✦Distribution lowers the activation cost of every other lever at once.#audience-multiplies-multipliers
✦Output is effort times a multiplier — and effort is bounded by biology while the multiplier is not.#effort-times-multiplier
✦A few of your skills drive most of your value — balanced competence spreads you across the slots that do not pay.#multiplier-skills
✦Everyone's money decisions make sense given the era and cohort that formed them — 'irrational' usually means 'calibrated on a different sample'.#nobody-is-crazy
✦The new leverage is code and media — zero marginal cost of replication, works while you sleep, needs no one's permission.#permissionless-leverage
✦Play long-term games with long-term people — compounding of money, trust, and knowledge only works if you don't reset the board.#play-long-games
✦Aim for reasonable rather than rational — a slightly suboptimal plan you will actually stick with beats an optimal one you abandon.#reasonable-over-rational
✦Margin of safety exists so that survival never depends on your forecast being right.#room-for-error
✦Specific knowledge can't be trained, only found by following genuine curiosity — it feels like play to you and looks like work to others.#specific-knowledge
✦The square root of contributors in a domain produces half its output.#square-root-of-output
✦Compounding rewards duration far more than rate — the dominant variable is how long you leave it alone.#time-is-the-lever
✦Wealth is the spending you didn't do — invisible by construction, which is why it cannot be learned by imitation.#wealth-is-what-you-dont-see