We Should Eventually Be Working for Ourselves
Naval
Naval Ravikant
4.8 • 2.4K Ratings
🗓️ 24 June 2019
⏱️ 4 minutes
🧾️ Download transcript
Summary
The goal is that we are eventually wealthy and working for ourselves.
• This advice is for anybody who wants to be entrepreneurial 0:00
• Middle age can be the most fruitful time to apply this advice 0:48
• Look up the value chain to find leverage 1:58
• You will do better in a small organization 2:43
• The goal is that we are all working for ourselves 3:25
Transcript: http://nav.al/target-audience
Transcript
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| 0:00.0 | Who is this advice targeted to? Is it for my lift driver? Is it for an internet entrepreneur? |
| 0:07.5 | Is it for somebody who wants to start a YouTube channel? Because it comes from someone who's |
| 0:12.8 | steeped in Silicon Valley and tech companies, it's always going to have a bias towards that. But |
| 0:17.2 | I think it's good for anybody who wants to be entrepreneurial, anybody who wants to control |
| 0:22.5 | their own life, anybody who wants to deterministically and reliably improve their abilities to |
| 0:28.9 | create wealth over time is patient and looking for the long haul. Certainly if you're 80 years old, |
| 0:34.8 | retired, running out of energy, you should probably just stay retired. But there are 80 year olds who |
| 0:39.2 | have a lot of energy and want to do new things and live for the future. It can obviously apply |
| 0:44.7 | very easily to a young person, I would say, 19 years old and up. The most difficult one is probably |
| 0:49.9 | middle aged because when we're in our 30s, 40s, 50s, we already have a lot invested. We have a lot of |
| 0:55.6 | obligations because those are the years where we're earning and people are relying upon us. |
| 0:59.7 | We don't want to change because we don't want to admit defeat in what we've been doing to date. |
| 1:04.7 | But that's where it can actually be the most fruitful. It may be the most difficult pivot. You |
| 1:09.2 | have a nine to five job, you have a family relying upon you. And so it may seem like the things in |
| 1:14.4 | this podcast are far too idealistic. But maybe it can inform your weekend projects. Maybe it can |
| 1:20.6 | inform yourself reeducation that you do at night on the internet. Maybe it can inform what |
| 1:25.3 | roles you take on in the company that you're at because they move you closer and closer to |
| 1:29.5 | points of leverage, points of judgment or points where you're naturally good at and you're authentic. |
| 1:34.6 | It might cause you to take on more accountability. Even applied piece meals. These principles can |
| 1:39.6 | directly guide you regardless of what stage you are at in life short of retirement. And if you're |
| 1:44.9 | in retirement, just test them to see if they're true and then teach them to your kids or your grandkids. |
| 1:48.8 | There's many different ways to participate. It should really apply to almost everybody who has |
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