Labor and Capital Are Old Leverage

Naval

Naval Ravikant

Business, Technology

4.8 • 2.4K Ratings

🗓️ 15 April 2019

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

Wealth requires leverage. Labor and capital are older forms of leverage that everyone is fighting over.

• Our brains aren't evolved to comprehend new forms of leverage 0:00

• Society overvalues labor leverage 1:08

• You want the minimum amount of labor that allows you to use the other forms of leverage 1:56

• Capital has been the dominant form of leverage in the last century 2:40

• You need specific knowledge and accountability to obtain capital 4:52

Transcript: http://nav.al/labor-capital

Transcript

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0:00.0	So why don't we talk a little bit about leverage?
0:02.8	The first tweet in the storm was a famous quote
0:06.2	from Marco Medies, which was, give me a lever long enough
0:09.6	and a place to stand and I will move the earth.
0:13.0	The next tweet was, fortunes require leverage.
0:16.9	Business leverage comes from capital, people and products
0:20.1	with no marginal cost of replication.
0:22.8	Leverage is critical.
0:24.2	The reason I stuck in Archimedes' quote in there
0:26.5	is normally I don't like putting other people's quotes
0:29.0	in my Twitter.
0:29.8	Like that doesn't add any value.
0:31.4	You can go look up those people's quotes.
0:33.0	But this quote I had to put in there
0:34.6	because it's just so fundamental.
0:36.6	I read it when I was very, very young
0:38.3	and it had a huge impression on me.
0:40.2	And we all know what leverage is
0:41.9	when we use a seesaw or a lever,
0:44.2	we understand how that works physically.
0:46.2	But I think what our brains aren't really well evolved
0:49.4	to comprehend is how much leverage is possible
	...

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