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Naval

Making Money Isn't About Luck

Naval

Naval Ravikant

Business, Technology

4.82.4K Ratings

🗓️ 6 March 2019

⏱️ 5 minutes

🧾️ Download transcript

Summary

Making money isn't about luck. It's about becoming the kind of person who makes money.

• Making money isn't about luck 0:00

• Blind luck 0:46

• Luck from hustling 0:55

• Luck from preparation 1:35

• Luck from your unique character 1:51

• In 1,000 parallel universes, you want to be wealthy in 999 of them 2:54

• Wealth stacks up one chip at a time, not all at once 4:11

Transcript: http://nav.al/money-luck

Transcript

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0:00.0

Obviously, we want to be wealthy and we want to get there in this lifetime without having to rely on luck.

0:05.4

A lot of people think making money is about luck, it's not.

0:08.2

It's about becoming the kind of person that makes money.

0:11.2

I like to think that if I lost all my money and if you drop me on a random street in any English-speaking country,

0:18.4

within 5-10 years, I'd be wealthy again.

0:21.4

Because it's just a skill set that I've developed and I think anyone can develop.

0:26.2

In a thousand parallel universes, you want to be wealthy in 999 of them.

0:30.9

You don't want to be wealthy in the 50 of them where you got lucky.

0:34.0

So we want to factor luck out of it.

0:35.8

There's really four kinds of luck that we were talking about.

0:38.2

This came from a book, P. Mark Henryson wrote a blog post about it.

0:42.9

But basically, there's different kinds of luck.

0:45.6

The first kind of luck you might just say is like, blind luck,

0:48.3

where I just got lucky because something completely out of my control happened.

0:53.1

That's fortune, that's fate, etc.

0:55.2

Then there's luck that kind of comes through persistence, hard work, hustle, motion.

0:59.9

Which is when you're just running around creating lots of opportunities,

1:03.2

you're generating a lot of energy, you're doing a lot of things.

1:05.8

Lots of things will just get stirred up in the dust.

1:09.0

It's almost like mixing a petri dish and seeing what combines or mixing a bunch of reagents

1:13.8

and seeing what combines.

1:15.0

You're just generating in a force and hustle and energy that luck will sort of find you.

...

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