How to Get Rich
- Wealth is the money that you make while you sleep.
- Money is social credits. It’s having debits and credits of other people’s time. Money means that you deliver value to society.
- 2 games in life. Money will solve your money problems. High status in the eyes of other people. Wealth is not a zero sum game. Status is a zero sum game.
- There is always a subtle competiton between status and wealth.
- You can’t be normal and get abnormal things.
- Play stupid games - win stupid prizes.
- You won’t get rich by working. Input is closely related to output.
- One engineer can do one hour and make millions of dollars. An engineer that creates bitcoin has infinite impact.
- Look for professions and careers where input and output is disconnected.
- Look for tools. Computers, videos, books, code.
- People that live far below their means have a freedom that people upgrading their lifestyle cannot fathom.
- People keep upgrading and upgrading. This keeps you a slave.
- The three main addictions are heroin, carbs and a monthly salary.
- You want to make money in increment lumps over time so you don’t have time upgrading your lifestyle.
- You get rich by giving society what it wants but has not yet figured out how to get. At scale.
- Oil = technology
- Technology = set of things that don’t quite work yet
- Steve jobs figured out that people want to have computers in their pockets. And then they delivered it to millions and billions of people.
- Escape competition through authenticity.
- No one can compete on being you with you.
- Pick an industry where you can play long term games with long term people.
- All the benefits in life come from compound interest.
- If you want to be successful - you need other people. What you want to figure out - is who are the people that you can play this game the longest with, and who can you trust the most. Then you just do that for a long enough time and you will be successful.
- Pick an industry and stay there long enough.
- In a long term game everybody is making each other rich. In a short term game, everybody is trying to make themselves rich.
- A great leader doesn’t take the credit. He inspires the good in people and divides the benefits based on responsibility and risk.
- It’s not about who has the longest knife - but it’s about who has the sharpest one.
- Relationships just get better and better.
- The fitter you are, the easier it is to stay fit.
- Get traction and don’t let go.
- Working with people
- High intelligence
- High energy
- High integrity