The Almanack of Naval Ravikant: A Guide to Wealth and Happiness

by Eric Jorgenson

Sure, he’s the CEO and a co-founder of AngelList. Sure, he previously co-founded Vast.com and Epinions, which went public as part of Shopping.com. Sure, he’s an angel investor and has invested in many mega successes, including Twitter, Uber, Yammer, and OpenDNS, to name but a few.

If you have nothing in your life, but you have at least one person that loves you unconditionally, it’ll do wonders for your self-esteem. [8]

Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).

Code and media are permissionless leverage. They’re the leverage behind the newly rich. You can create software and media that works for you while you sleep.

An army of robots is freely available—it’s just packed in data centers for heat and space efficiency. Use it.

Work as hard as you can. Even though who you work with and what you work on are more important than how hard you work.

Almost everything in your house, in your workplace, and on the street used to be technology at one point in time. There was a time when oil was a technology that made J.D. Rockefeller rich. There was a time when cars were technology that made Henry Ford rich.

The most important skill for getting rich is becoming a perpetual learner. You have to know how to learn anything you want to learn. The old model of making money is going to school for four years, getting your degree, and working as a professional for thirty years. But things change fast now.

For labor leverage, somebody has to decide to follow you. For capital leverage, somebody has to give you money to invest or to turn into a product. Coding, writing books, recording podcasts, tweeting, YouTubing—these kinds of things are permissionless. You don’t need anyone’s permission to do them, and that’s why they are very egalitarian. They’re great equalizers of leverage. [78]

Another way of thinking about something is, if you can outsource something or not do something for less than your hourly rate, outsource it or don’t do it. If you can hire someone to do it for less than your hourly rate, hire them. That even includes things like cooking.

Be optimistic, be positive. It’s important. Optimists actually do better in the long run. [10]

Advice to a young engineer considering moving to San Francisco: “Do you want to leave your friends behind? Or be the one left behind?”

An old boss once warned: “You’ll never be rich since you’re obviously smart, and someone will always offer you a job that’s just good enough.”

I’m always “working.” It looks like work to others, but it feels like play to me. And that’s how I know no one can compete with me on it. Because I’m just playing, for sixteen hours a day. If others want to compete with me, they’re going to work, and they’re going to lose because they’re not going to do it for sixteen hours a day, seven days a week. [77]

For someone who is early in their career (and maybe even later), the single most important thing about a company is the alumni network you’re going to build. Think about who you will work with and what those people are going on to do. [76]

The most common bad advice I hear is: “You’re too young.” Most of history was built by young people. They just got credit when they were older. The only way to truly learn something is by doing it. Yes, listen to guidance. But don’t wait. [3]

Let’s get you rich first. I’m very practical about it because, you know, Buddha was a prince. He started off really rich, then he got to go off in the woods.

Richard Feynman very famously does this in “Six Easy Pieces,” one of his early physics lectures. He basically explains mathematics in three pages. He starts from the number line—counting—and then he goes all the way up to precalculus. He just builds it up through an unbroken chain of logic. He doesn’t rely on any definitions. The really smart thinkers are clear thinkers. They understand the basics at a very, very fundamental level.

It’s actually really important to have empty space. If you don’t have a day or two every week in your calendar where you’re not always in meetings, and you’re not always busy, then you’re not going to be able to think. You’re not going to be able to have good ideas for your business. You’re not going to be able to make good judgments. I also encourage taking at least one day a week (preferably two, because if you budget two, you’ll end up with one) where you just have time to think.

People mistakenly believe happiness is just about positive thoughts and positive actions. The more I’ve read, the more I’ve learned, and the more I’ve experienced (because I verify this for myself), every positive thought essentially holds within it a negative thought. It is a contrast to something negative.

We think of ourselves as fixed and the world as malleable, but it’s really we who are malleable and the world is largely fixed.

I have lowered my identity. I have lowered the chattering of my mind. I don’t care about things that don’t really matter. I don’t get involved in politics. I don’t hang around unhappy people. I really value my time on this earth. I read philosophy. I meditate. I hang around with happy people. And it works.

When you’re young and healthy, you can do more. By doing more, you’re actually taking on more and more desires. You don’t realize this is slowly destroying your happiness. I find younger people are less happy but more healthy. Older people are more happy but less healthy.

When you’re young, you have time. You have health, but you have no money. When you’re middle-aged, you have money and you have health, but you have no time. When you’re old, you have money and you have time, but you have no health. So the trifecta is trying to get all three at once.

One day, I realized with all these people I was jealous of, I couldn’t just choose little aspects of their life. I couldn’t say I want his body, I want her money, I want his personality. You have to be that person. Do you want to actually be that person with all of their reactions, their desires, their family, their happiness level, their outlook on life, their self-image? If you’re not willing to do a wholesale, 24/7, 100 percent swap with who that person is, then there is no point in being jealous. Once I came to that realization, jealousy faded away because I don’t want to be anybody else. I’m perfectly happy being me. By the way, even that is under my control.

If you can’t see yourself working with someone for life, don’t work with them for a day.

The more you judge, the more you separate yourself. You’ll feel good for an instant, because you feel good about yourself, thinking you’re better than someone. Later, you’re going to feel lonely. Then, you see negativity everywhere. The world just reflects your own feelings back at you. [77]

In any situation in life, you always have three choices: you can change it, you can accept it, or you can leave it. If you want to change it, then it is a desire. It will cause you suffering until you successfully change it. So don’t pick too many of those. Pick one big desire in your life at any given time to give yourself purpose and motivation.

“Okay, I’ll be late for a meeting. But what is the benefit to me? I get to relax and watch the birds for a moment. I’ll also spend less time in that boring meeting.” There’s almost always something positive. Even if you can’t come up with something positive, you can say, “Well, the Universe is going to teach me something now. Now I get to listen and learn.”

Outside of math, physics, and chemistry, there isn’t much “settled science.” We’re still arguing over what the optimal diet is.

It’s the awareness my brain was running off in the future and planning some fantasy scenario out of ego. I was like, “Well, do I really care if I embarrass myself? Who cares? I’m going to die anyway. This is all going to go to zero, and I won’t remember anything, so this is pointless.”

It helps to start out by saying, “I’m never going to be popular. I’m never going to be accepted. I’m already a loser. I’m not going to get what all the other kids have. I’ve just got to be happy being me.”

Your time is all you have. Do not waste your time. This doesn’t mean you can’t relax. As long as you’re doing what you want, it’s not a waste of your time. But if you’re not spending your time doing what you want, and you’re not earning, and you’re not learning—what the heck are you doing?

What is anger? Anger is a way to signal as strongly as you can to the other party you’re capable of violence. Anger is a precursor to violence. Observe when you’re angry—anger is a loss of control over the situation. Anger is a contract you make with yourself to be in physical and mental and emotional turmoil until reality changes. [1]

I don’t buy the everlasting afterlife answers because it’s insane to me, with absolutely no evidence, to believe because of how you live seventy years here on this planet, you’re going to spend eternity, which is a very long time, in some afterlife. What kind of silly God judges you for eternity based on some small period of time here? I think after this life, it’s very much like before you were born. Remember that? It’s going to be just like that.