Summary of The Almanack of Naval Ravikant
It can be downloaded free form: https://www.navalmanack.com
Naval Ravikant is an American entrepreneur, investor and philosopher. Some of his mental model is useful in investing, like…
Earn with your mind, not your time.
As you make money, you just want even more· You make money to solve your money and material problems. I think the best way to stay away from this constant love of money is to not upgrade your lifestyle as you make money.
The more desire I have for something to work out a certain way, the less likely I am to see the truth.
Any belief you took in a package (ex. Democrat, Catholic, American) is suspect and should be re-evaluated from base principles.
Almost all biases are time-saving heuristics (mind takes shortcut). For important decisions, discard memory and identity, and focus on the problem.
IF YOU CAN’T DECIDE, THE ANSWER IS NO.
The three big ones in life are wealth, health, and happiness.
We pursue them in that order, but their importance is reverse.
Set up systems, not goals
Courage isn’t charging into a machine gun nest. Courage is not caring what other people think.
Value your time. It is all you have. It’s more important than your money. It’s more important than your friends. It is more important than anything. Your time is all you have. Do not waste your time. Don’t spend your time making other people happy. Other people being happy is their problem.
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