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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]
Getting rich is about knowing what to do, who to do it with, and when to do it. It is much more about understanding than purely hard work.
If you don’t know yet what you should work on, the most important thing is to figure it out. You should not grind at a lot of hard work until you figure out what you should be working on.
Pick an industry where you can play long-term games with long-term people.
Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.
Pick business partners with high intelligence, energy, and, above all, integrity.
Don’t partner with cynics and pessimists. Their beliefs are self-fulfilling.
Learn to sell. Learn to build. If you can do both, you will be unstoppable.
An army of robots is freely available—it’s just packed in data centers for heat and space efficiency. Use it.
If you can’t code, write books and blogs, record videos and podcasts.
Leverage is a force multiplier for your judgment.
Judgment requires experience but can be built faster by learning foundational skills.
Reading is faster than listening. Doing is faster than watching.
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.
Become the best in the world at what you do. Keep redefining what you do until this is true.
Money is how we transfer wealth. Money is social credits. It is the ability to have credits and debits of other people’s time.
The most important skill for getting rich is becoming a perpetual learner. You have to know how to learn anything you want to learn.
Knowing how to be persuasive when speaking is far more important than being an expert digital marketer or click optimizer. Foundations are key. It’s much better to be at 9/10 or 10/10 on foundations than to try and get super deep into things.
Compound interest also happens in your reputation. If you have a sterling reputation and you keep building it for decades upon decades, people will notice. Your reputation will literally end up being thousands or tens of thousands of times more valuable than somebody else who was very talented but is not keeping the compound interest in reputation going.
Intentions don’t matter. Actions do. That’s why being ethical is hard.
When you find the right thing to do, when you find the right people to work with, invest deeply. Sticking with it for decades is really how you make the big returns in your relationships and in your money. So, compound interest is very important. [10]
When you’re dating, the instant you know this relationship is not going to be the one that leads to marriage, you should probably move on.
