10 Things I Learned from Naval on my podcast
To give full credit, though, although I learned these things from Naval this list 100% comes from https://petearonchick.com/naval-on-the-james-altucher-show/. All of the words below are from Naval
1. When to invest
A good time to invest is when the technology is not proven yet— a lot uncertainty— the technology hasn’t cracked the problem or broken the uncanny valley or the chasm
2. What assets should one own?
Own assets that aren’t dollars. Own real earning assets and you will always be okay.
3. What books does Naval recommend?
Naval recommends reading Poor Charlie Almanack and the rational Optimist by Matt Ridley.
4. How do you find your passion?
Found out what you liked doing as a kid for a glimpse of what you might like to do as an adult. Naval as a kid liked technology, games, reading, technology strategy and technology strategy is the area he focused on. He realized he didn’t like people and he like to be alone as a recluse and is part of the reason he is attracted to computer science/coding because you can do that without anyone bothering you. Wanted to be in a field where his work spoke for himself.
5. Who >= What
Who you do business with is just as important as what you choose to do.
6. We're all just kids.
I don’t think there are any adults—we are all just kids at varying degrees of maturity and you have to figure it out on your own, especially in business where everybody has some incentives.
7. Listen but...
Listen to everyone but do not follow anyone. Follow your own gut.
8. Who to work with?
Naval looks for people to work with that have integrity, high intelligence, high and, high energy. The Buffet rule.
The moment you are not going to marry someone in your relationship than you should probably break up with them.
10. Do what's interesting
The most interesting people the most interesting projects, hobbies, passions endeavors and long term things, pay off because of compound interest.
11. Don't be anxious (this part is hard for me)
You need to get through your angst, fear or anxiety to be productive because if some percentage of you is being taken up by this angst, fear or anxiety then it really puts you out of the competition.
12. Life is a series of
Life is a series of google searches: You are searching for the person you are going to s get married to and have kids with. You are searching for the business partners and the few people you want to do business for the rest of your life. You are searching for the industry that you love. Searching for the place that you would really want to live. Once you solve one problem you put it aside then you start investing in the areas that you haven’t figured out yet.