@Silent_Simulator My wealthiest friend is a high school dropout. College bored me. I got into sales in my early twenties and started my business at 30. 30 years later still a successful business earning multi-six figures a year.
i used to be scared of maths but not anymore,i avoided studying it due to this fear ,still new to studying it but i am not scared of studying any books now.I think Naval is so right about this thing is this fear causes us procrastination,not sure about others but to me it did and that wasted so much of my time.
Yes I’ve been trying 3d lighting and if it wasn’t for the fear of shame and my age or time or if it’s for me etc…I would’ve produced a portfolio already! Hahaha but now I’m back at it and actually, I feel the fear and I’m like “I can’t afford this fear anymore”
I think this video best explains part of the huge problem with public education. Public school isn’t designed to build strong foundations in the basics. Rather it is a mechanical crap shoot, and they set the tempo, regardless if you’re actually learning. The education system is also purposely built to catapult you into “higher education”, where you are expected to learn advanced concepts and ideas, but aren’t proficient at any of the basics. If I knew that when I was younger, oh man, I’d be really far ahead than where I want to be today at 25. Thankfully, today is a new day to start with the basics and achieve mastery later; but ultimately work toward understanding everyday. This video helped me reflect on how much I actually don’t know, but thought I did know. My circle of competence is way smaller than I thought. Thank you Naval Ravikant
I know someone who did just what you said. He read a book on a subject, then went & taught other people about it, made a pile of money, then went onto another subject. Then brought shares in multiple business
Mindset. Think different. Be able to sacrifice. Enjoy delayed gratification. Take calculated risks. Have thick skin. Stay humble. I grew up poor...like no lunch and no lunch money. Made many mistakes, specially on perspective and relationship with money. Learned the hard way. Success comes with having goals, making mistakes & overcoming challenges and having desire to succeed, persistence and determination.
I wasn't expecting to agree with the point about reading the right things in the wrong order. As soon as he said that I rolled my eyes, but after he explained the part about having an incorrect foundation/worldview, I was completely on board. Smart guy.
Knowing what to do, when to do and whom to it with will make you rich. Getting fundamentals right, like mathematics and science and micro economics is very important in life. Being a perpetual learner will make you rich. There shouldn't be a book which scares you no matter what the age.
Before deciding what information will form your foundation seek the opposite view. Only then will you know what you really believe after you’ve made a balanced assessment.
*11 BASIC Life Skills All Men Must MASTER! (by Age 30 & 40)* 1) Believing with yourself 2) Small talk to dominate social situation 3) Mentally strong 🧠 4) How well you can satisfy your partner 5) Comfortable in your own skin 6) Saving n Investing - money mgt 💰 7) Self aware on your emotion 8) Self Defense 9) Time mgt 10) Stand up for yourself 11) Emphatetic Take it easy and I hope you found one thing helpful in this list.
Thanks for this. Great content. Just one observation: Naval has highly recommended David Deutsch in the past. DD believes that in scientific matters in particular it is in fact not recommended to go to the original source (Darwin, Einstein, etc.) because our current understanding has improved considerably, and the original authors aimed their explanations at their contemporary peers.
Give this some thought: Original work will also give you an appreciation of the fact that things that we think are the facts but then time and more evidence (thanks to science) has the ability to nullify it over time. You'll miss this when you'll read what is a fact right now.
@@ANKITSHARMA-tn6fl Excellent observation! Just to clarify, Deutsch didn’t say that one should never read the original text, just that it’s not the best starting point. So, learn contemporary Neo-Darwinism before reading On the Origin of Species, or an up to date physics textbook before Newton’s Principia.
This statement is true. However, my understanding of what is being said is, read the originals first, and when you have strong foundation of that, read the current sources and see how much improvements have been made to the subject. That way we can naturally grow the spirit of research-thinking mindset.
Warren Buffett has mastered what patience looks like. He has stuck to the markets, having a long term view on the markets. This is what I'm struggling to do, trying to learn how to not react to market news about inflation and all. I have currently set aside about $253k to put in the market now that prices are down. Any ideas?
It takes some gut to really remain in the market despite downturns and all. So just find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
I agree. I have pulled in more than $1.4 million since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
@@sommersalt88 This is something I've been planning to do for a while now. My portfolio has been falling, and I'm scared, but I know the market always recovers. I wonder if I've been on the right stocks. How do I get in touch with your advisor?
@@sommersalt88 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before engaging her services. She seems proficient considering her résumé.
The fact that he, and many others in his “cohort” time and again recommend reading Adam Smith, Mises and Hayek as foundational economics says a lot when most economists these days wouldn’t dare recommend Mises or Hayek. It’s quite telling about the economics profession when the people who actually create value espouse a much different school of thought
Smith too old economic thoughts, Mises and Hayek are propaganda not science, popularised in order to destroy social state, predecessors of todays criminal neoliberalism
In this age while we are still lucky with development of crypto, simple way to at least $1 million is owning at least 0.1 bitcoin and 1 Ethereum. Do this and hold for anywhere between 3-8 years. Just hold regardless what happens. Very high probability you will be millionaire. If want 2-3, etc more million just add more allocation. If can not afford that just start with adding $50 or whatever can afford a month
For me, it has been learning how to invest in the companies in my country. I do dividend reinvesting. Buy 'n hold. So I keep working, but now I am content with not particularly advancing in my field of expertise. It is there because I once loved it. I still do. But it is not true that every second of every day is a passion. I earn a decent living. It pays the bills. Thank you for this video. In a video on Charlie Munger, he was shown talking about 'inanaities'. Lolapalooza's. I rewatched it a couple of times to finally understand that what he was telling his audience, was to train your mind to detect anomalies. and decide if you want to exploit them or not. Maybe he was talking about the stock market. Maybe he was talking about other things in life.
Maths and science are great things to know the fundamentals of, and they will undoubtedly sharpen your thinking skills, but without some kind of training in the fundamentals of philosophy and critical thinking, you won't progress much. I recommend Aristotelian philosophy for a blend of logic and experience.
Great advice by Naval. I also don’t think it’s perfect though. I would say knowing what the best path is for you. People need to be careful blindly listening to everyone like Naval or Gary V who knows he doesn’t have all the answers. It’s a custom plan. It’s not even being a perpetual learner, since we all know rich people who are idiots, it’s really understanding all the different paths and the best one for you.
I love these videos, lot of learnings from your videos. Thanks for your time to prepare the notes section. I have one request. Since you are preparing the notes of important points manually, is it possible to paste the notes in the description or a Google docs?? I have a habit(many of them might) noting down important points for future references and it would be helpful if I can watch the video to Gain Knowledge and also document it for future ref. Please do it if it's not too much, it would be very helpful.
If you don't find a means of multiplying your money, you will wake up one day and realize that the money you thought you had, had been exhausted. Investment is a ladder to climb the financial wall.
Subbed! You are doing a great service man. I guess you also admire structural thinking. I can see that, you distill concepts into flow based notes. Same here.
Karl Marx lived during a time of significat changes, where the peasants were moving into the cities and the divide was clear between the factory workers and owners. There were no labor laws, OSHA etc. That is not the case today. We have more middle class jobs that cater to other middle class folks e.g. managers, accountants, small business owners. Karl Marx is anachronistic. Just because it's a "classic" doesn't mean it's correct or applies today. Context is important.
Great video.. I don’t know who’s really hear this but if you really want to generate wealth, start small and with the little that you have, and invest it into stocks bitcoin and other crypto currencies I’m a living testimony from this
It’s a smart thing to do honestly. I did my research and invested $100,000 into crypto with the help of an experienced financial analyst and now, I’m worth 500% profit. My portfolio is $542,000.
@Williams Lol, it was like a dream to me at first, Loretta Wilkinson is really good with what she does. And she's has helped me achieve a lot in this space. She trades for me and earns me weekly and monthly profit
Unpopular opinion: You must WORK HARD! Dan Pena said, “Success leaves clues”. It’s quite misleading to say read books in the right order and you will lose all the weight.
Unpopular opinion: You must be responsible and consume less than you spend to lose weight. But I guess you’re right, making up all kinds of excuses is hard work.
![Naval Ravikant - The 4 BIGGEST TRAPS in Life that You NEED to GET OUT [w/ Charlie Munger]](http://i.ytimg.com/vi/2bL5JHKf16k/mqdefault.jpg)
![Naval Ravikant - The 4 BIGGEST TRAPS in Life that You NEED to GET OUT [w/ Charlie Munger]](/img/tr.png)
![Naval Ravikant - The 3 MOST DANGEROUS LIES about Success [w/ MrBeast, Kapil Gupta & Mohnish Pabrai]](http://i.ytimg.com/vi/INi4CdIPH5w/mqdefault.jpg)
What a beautiful quote: "Formal education will make you a living; self-education will make you a fortune"
and its complete BS
@@silent_simulator9590 well its somewhat true but its not that dichotic. Education is education. But successful people are always learning
@Silent_Simulator My wealthiest friend is a high school dropout. College bored me. I got into sales in my early twenties and started my business at 30. 30 years later still a successful business earning multi-six figures a year.
@@jmm1817 you surely know that 2 stories are not a statistical proof, right?......
@Silent_Simulator It's common sense trust me, I've been around the business world all my life. Millions of stories👍🏼
i used to be scared of maths but not anymore,i avoided studying it due to this fear ,still new to studying it but i am not scared of studying any books now.I think Naval is so right about this thing is this fear causes us procrastination,not sure about others but to me it did and that wasted so much of my time.
Check out khan academy, should go pretty deep and be free if I remember correctly
Yes I’ve been trying 3d lighting and if it wasn’t for the fear of shame and my age or time or if it’s for me etc…I would’ve produced a portfolio already! Hahaha but now I’m back at it and actually, I feel the fear and I’m like “I can’t afford this fear anymore”
Time pressure is also real, when your parents and environment are pushing you to do things fast. and even school system is same.
Save
"Education will get you a job, knowledge will make you rich" ✅👍
I think this video best explains part of the huge problem with public education. Public school isn’t designed to build strong foundations in the basics. Rather it is a mechanical crap shoot, and they set the tempo, regardless if you’re actually learning. The education system is also purposely built to catapult you into “higher education”, where you are expected to learn advanced concepts and ideas, but aren’t proficient at any of the basics.
If I knew that when I was younger, oh man, I’d be really far ahead than where I want to be today at 25. Thankfully, today is a new day to start with the basics and achieve mastery later; but ultimately work toward understanding everyday. This video helped me reflect on how much I actually don’t know, but thought I did know. My circle of competence is way smaller than I thought. Thank you Naval Ravikant
Schooling is design to create obedient workers who won't rise up, not to educate.
I know someone who did just what you said. He read a book on a subject, then went & taught other people about it, made a pile of money, then went onto another subject. Then brought shares in multiple business
Mindset. Think different. Be able to sacrifice. Enjoy delayed gratification. Take calculated risks. Have thick skin. Stay humble. I grew up poor...like no lunch and no lunch money. Made many mistakes, specially on perspective and relationship with money. Learned the hard way. Success comes with having goals, making mistakes & overcoming challenges and having desire to succeed, persistence and determination.
🫶🏾💫
I wasn't expecting to agree with the point about reading the right things in the wrong order. As soon as he said that I rolled my eyes, but after he explained the part about having an incorrect foundation/worldview, I was completely on board. Smart guy.
In the right order gives a plotted trajectory of prior discoveries and then a projection forward about where things may be going next.
The best thing about this video is that they are providing notes.
thank you!!
Glad someone is cleaning an oven in the background
Very handy.
This is awesome. Thank you for the ending summary and added value. Highly appreciated.
Thank you so much ❣
This UA-cam channel is everything. Please don’t stop
Thank you !
Knowing what to do, when to do and whom to it with will make you rich.
Getting fundamentals right, like mathematics and science and micro economics is very important in life.
Being a perpetual learner will make you rich. There shouldn't be a book which scares you no matter what the age.
This is excellent . In my field the top earners are the ones who are best at the simple basics and being consistent
Every time I feel lost and don't know what to do in life, I come back and watch this video.
Quality distilled quotes, speeches and tips. I appreciate this thank you. I am 36 years old and I definitely spent a lot of time on the wrong things.
Thank you! We all have :)
Nothing is actually wrong... it's time... but you got experience, right. you can use those experiences now.
Thank you UA-cam algorithm for this gold nugget 🏆
Thank you for making this beautiful video
Glad you liked it!
Before deciding what information will form your foundation seek the opposite view. Only then will you know what you really believe after you’ve made a balanced assessment.
Thank you picking nuggets for everything you are doing
Appreciate it !
I’m 45, worth million +, I started at 34. If you are 20, start hustling in the right direction. Now.
I’m 34 n just starting, with 3 kids as a single mum🙏🏼
The ability to learn, Becoming a perpetual learner!
Sounds like someone's juggling BBQ grills in the background.
The music is delightful. Thanks.
Oh, now I understand why this channel is called "Picking Nuggets" 👍🤓
*11 BASIC Life Skills All Men Must MASTER! (by Age 30 & 40)*
1) Believing with yourself
2) Small talk to dominate social situation
3) Mentally strong 🧠
4) How well you can satisfy your partner
5) Comfortable in your own skin
6) Saving n Investing - money mgt 💰
7) Self aware on your emotion
8) Self Defense
9) Time mgt
10) Stand up for yourself
11) Emphatetic
Take it easy and I hope you found one thing helpful in this list.
Thats a great list. Thank you.
“All men,” eh?
Thanks for this. Great content. Just one observation: Naval has highly recommended David Deutsch in the past. DD believes that in scientific matters in particular it is in fact not recommended to go to the original source (Darwin, Einstein, etc.) because our current understanding has improved considerably, and the original authors aimed their explanations at their contemporary peers.
Thank you :) And thanks for the comment, the statement makes sense
This statement is true by no means.
Give this some thought:
Original work will also give you an appreciation of the fact that things that we think are the facts but then time and more evidence (thanks to science) has the ability to nullify it over time.
You'll miss this when you'll read what is a fact right now.
@@ANKITSHARMA-tn6fl Excellent observation! Just to clarify, Deutsch didn’t say that one should never read the original text, just that it’s not the best starting point. So, learn contemporary Neo-Darwinism before reading On the Origin of Species, or an up to date physics textbook before Newton’s Principia.
This statement is true. However, my understanding of what is being said is, read the originals first, and when you have strong foundation of that, read the current sources and see how much improvements have been made to the subject. That way we can naturally grow the spirit of research-thinking mindset.
That's right being a perpetual learner, it's not about the product as much as it is about the process
Warren Buffett has mastered what patience looks like. He has stuck to the markets, having a long term view on the markets. This is what I'm struggling to do, trying to learn how to not react to market news about inflation and all. I have currently set aside about $253k to put in the market now that prices are down. Any ideas?
It takes some gut to really remain in the market despite downturns and all. So just find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
I agree. I have pulled in more than $1.4 million since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
@@sommersalt88 This is something I've been planning to do for a while now. My portfolio has been falling, and I'm scared, but I know the market always recovers. I wonder if I've been on the right stocks. How do I get in touch with your advisor?
I work with "LISA ELLEN SHAW". I understand what it's like to see your portfolio going down. I hope the performance improves.
@@sommersalt88 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before engaging her services. She seems proficient considering her résumé.
6:40 nailed it !
This channel is GOLD
thanks !!
New sub, great content. You teach by revealing HOW to think, not WHAT to think. The fortunate few will know WHY to think.
Thank you !!
I love this channel so much, and this is the only video I have seen
thank you !!
You're great, Sir. Microeconomics, I'm going to study this.
The fact that he, and many others in his “cohort” time and again recommend reading Adam Smith, Mises and Hayek as foundational economics says a lot when most economists these days wouldn’t dare recommend Mises or Hayek.
It’s quite telling about the economics profession when the people who actually create value espouse a much different school of thought
Smith too old economic thoughts, Mises and Hayek are propaganda not science, popularised in order to destroy social state, predecessors of todays criminal neoliberalism
What a great Video, I feel great everyday from the power of youtube
thank you !!
10 : 40 Charlie on Warren's love of reading and discussing what he's read with the people he trusts.
that was so informative and the way you take notes and present them is just as amazing as the content. Thanks
Really appreciated 💖
Very original, inspiring and straight.... looking forward to many more
Thank you !!
wow! a lot of learning in one video totally worth watching! thank you!
Thanks for the comment :)
I appreciate the extra work u put in it as notes and all.....thanks 🙌, great work
Thank You very much !!
Great stuff. Thank you!
Welcome!
i agree, i made lot of mistakes by reading material in wrong order
The description of your videos is nice. Please keep providing the source (links to the youtube videos from where the clips were taken). Good job!
Thank you very much :)
Navals in the back of house kitchen when recording this lol appreciate all the Wisdom my friend!
Thank you :)
Yah, I kept hearing someone raking across those wire shelves found in most kitchen storages.
What are the names he mentions after Adam Smith at 4:26?
Great great reminder! Learning machines!
great video with text included.
Thanks :)
You can't change someone's nature, tomorrow will not be different than today.
I was just thinking that... this channel is awesome
thank you!
I first read the video title as: Naval Ravikant | The Most Important Skill To Get Rich - And Debunking The Lies [with Charlie Murphy] 🤣
I wish I could give this video more than one like. If I could, I would.
👏👏👏👏👏
Appreciate it :)
1:00 first figure out what to work on.
Reading books will never get you wealthy. That’s just how these people sell their online courses. What you need is hunger and passion for something.
He does not sell any books. But I agree on the hunger/passion, at the end of the day you have to act and go deep into something
this is just mindblowing
“Just learn how to learn”
👍
5:35 - become an expert in new thing is more important
In this age while we are still lucky with development of crypto, simple way to at least $1 million is owning at least 0.1 bitcoin and 1 Ethereum. Do this and hold for anywhere between 3-8 years. Just hold regardless what happens. Very high probability you will be millionaire. If want 2-3, etc more million just add more allocation. If can not afford that just start with adding $50 or whatever can afford a month
For me, it has been learning how to invest in the companies in my country. I do dividend reinvesting. Buy 'n hold. So I keep working, but now I am content with not particularly advancing in my field of expertise. It is there because I once loved it. I still do. But it is not true that every second of every day is a passion. I earn a decent living. It pays the bills.
Thank you for this video.
In a video on Charlie Munger, he was shown talking about 'inanaities'. Lolapalooza's. I rewatched it a couple of times to finally understand that what he was telling his audience, was to train your mind to detect anomalies. and decide if you want to exploit them or not. Maybe he was talking about the stock market. Maybe he was talking about other things in life.
Loving your Naval snippets
thank you :)
What are some books on these fundamental subjects?
great talk - but the background noise is such a bummer
Maths and science are great things to know the fundamentals of, and they will undoubtedly sharpen your thinking skills, but without some kind of training in the fundamentals of philosophy and critical thinking, you won't progress much. I recommend Aristotelian philosophy for a blend of logic and experience.
Noise in the back, limit the background noise and you’ll be golden
Great advice by Naval. I also don’t think it’s perfect though.
I would say knowing what the best path is for you. People need to be careful blindly listening to everyone like Naval or Gary V who knows he doesn’t have all the answers. It’s a custom plan.
It’s not even being a perpetual learner, since we all know rich people who are idiots, it’s really understanding all the different paths and the best one for you.
If you know rich idiots then which are you? Poor intelligent? Or unintelligent and poor?
Don’t knock anyone with a different strategy to you 😉
You are right, this comment deserves to be pinned!
Where can we participate in these discussion?
In Periscope. But he hasn't done it for 2 years now (I think)
I love these videos, lot of learnings from your videos. Thanks for your time to prepare the notes section.
I have one request. Since you are preparing the notes of important points manually, is it possible to paste the notes in the description or a Google docs?? I have a habit(many of them might) noting down important points for future references and it would be helpful if I can watch the video to Gain Knowledge and also document it for future ref.
Please do it if it's not too much, it would be very helpful.
Thank you!!
You can check the notes in the description at the end! (I always post it since 10 videos ago).
@@PickingNuggets got it..thank you, it's very helpful 👍
Good one
If you don't find a means of multiplying your money, you will wake up one day and realize that the money you thought you had, had been exhausted. Investment is a ladder to climb the financial wall.
Awesome content 💯 please keep it up
Thank you :)
Nice stuff
Thanks for watching!
Excellent
Thank you!
Video filled with quality content
Thank you
Thanks for these videos ❣️
Really nice and concise
This is excellent, thank you.
Welcome :)
I love your notes section.
Do you have any blog as well?
Thank you :)
I created a page on Wix:
jfroment4a.wixsite.com/pickingnuggets
Nice sharing..Thank you
LOL, "macroeconomics is trash" - Gold.
This isa great channel, glad i found it !
Thank you :)
what's the background noise for?
I think is a fireplace
Banging and clanging in the gym? Very efficient time mgmt.
Why there are background noise? Kinda irritating!!
Sounds like somebody loading munitions into a tank
Nice music, which suggests do you use?
Hey!
The song is Invisible Beauty
from Aakash Gandhi
Subbed! You are doing a great service man. I guess you also admire structural thinking. I can see that, you distill concepts into flow based notes. Same here.
Rule 1: PERPETUAL EDUCATION
Rule 2: Follow Rule 1
Karl Marx lived during a time of significat changes, where the peasants were moving into the cities and the divide was clear between the factory workers and owners. There were no labor laws, OSHA etc. That is not the case today. We have more middle class jobs that cater to other middle class folks e.g. managers, accountants, small business owners. Karl Marx is anachronistic. Just because it's a "classic" doesn't mean it's correct or applies today. Context is important.
1:19 God, what should I be Working on----
Which are the best BASICS SKILLS for Naval??? Besides speak and be persuasive
Learning
@@gabriel_augustob Tks Gabriel
Thank you ravikant 🙏🏻
Love it!!!
2+2=fish too
Nailed it.
I'm pretty sure nobody's gotten rich listening to Naval Ravikant quotes, no matter how attractive and pithy they sound.
Finally. A comment that really resonates with me here! Nice work.
Think of Descartes when he talks about solid foundations
Well I'm gonna start with Egyptian hieroglyphics now!
The crypto of the past!
Great video.. I don’t know who’s really hear this but if you really want to generate wealth, start small and with the little that you have, and invest it into stocks bitcoin and other crypto currencies I’m a living testimony from this
That’s so true I’m retired and I just started investing in these crypto currencies and I’ve made $29,000 with $3,000.
@Williams Wait, so you also know Loretta Wilkinson
It’s a smart thing to do honestly. I did my research and invested $100,000 into crypto with the help of an experienced financial analyst and now, I’m worth 500% profit. My portfolio is $542,000.
@Williams Lol, it was like a dream to me at first, Loretta Wilkinson is really good with what she does. And she's has helped me achieve a lot in this space. She trades for me and earns me weekly and monthly profit
Wow, very helpful mate. Exactly what I needed to hear today
The book full blockhead/ignorantly read/with loads of learned lumber/in his head - Alexander Pope
Super 👌
Could someone please suggest foundational book for arithmetic and logics?
Ncert
@SUGAR TEDDY RD Sharma
Unpopular opinion: You must WORK HARD! Dan Pena said, “Success leaves clues”. It’s quite misleading to say read books in the right order and you will lose all the weight.
Unpopular opinion: You must be responsible and consume less than you spend to lose weight. But I guess you’re right, making up all kinds of excuses is hard work.