“And all the rich people just sat there,” an old friend, Samuel, said last week, “and filled their ****** fat faces.”
One thing I enjoy about the holidays is reconnecting with old friends who come back home for the holidays.
Seeing where their lives have taken them.
One friend in particular, Samuel, told me story after story about dealing with “rich people” in his job…
It didn’t take long to notice a trend.
He has developed a hatred for the rich.
Although he wouldn’t admit it openly, he revealed it every time a story got siderailed by the dastardly “rich person” in the room…
“He was just some rich [expletive deleted] and needed to be knocked down a peg or two.”
(Yes, he also cusses like a sailor.)
Thing is, he’s obsessed with the idea of getting rich…
He talks about how much he wants to make money…
To get out of the hole he’s dug himself in…
He wants to “do good by doing good”…
I suggested that if he keeps caricaturizing “rich people” as evil Scrooge McDucks, he’s never going to make it…
The wealth he seeks will be forever out of his reach.
He’ll sabotage himself at every turn.
Furthermore, he’ll secretly feel self-righteous in his poverty…
Because at least he’s not like them.
He nodded… but I’m not sure it really sunk in.
He still hates rich people.
So, in a final gasp before I let it go…
I told him about Naval Ravikant’s “How to Get Rich (Without Getting Lucky)” twitterstorm….
Naval, if you don’t know, is an angel investor with a freakishly lucid mind…
He’s able to express BIG ideas in 140 characters or less, hence, why he’s so prolific on Twitter.
Today, we’ll look at the top 7 insights from Ravikant’s massive “get rich” thread.
#1: “If you secretly despise wealth, it will elude you.”
My friend wasn’t entirely conscious that he despised wealth and the wealthy…
He just saw it as his “objective” observations.
He would never be “like them,” no matter how much money he had.
But, he couldn’t shake the idea that money has some “evil” element to it…
“Money changes people,” he said.
And if being rich meant he would become like them, he’d take the “higher road.”
Frankly, this likely did little more than make him feel better about not being rich… and fueled his secret envy.
#2: “Understand that ethical wealth creation is possible.”
Yeah, the world is full of shysters.
But the vast majority of transactions in the economy are win-win…
They are the “business as usual”…
But most people don’t focus on the “normal” stuff, the essential functions… the cheap water and food, for example… they focus on the outliers.
They focus on the fat cat who just bamboozled a bunch of suckers out of $50 million…
And they say, “See? This whole system is corrupt and will never work in my favor.”
#3] “Ignore people playing status games.”
My friend does the opposite of this…
He sees some guy riding around in a Lamborghini, obviously showing off his wealth, and lets it inform his views about people with money…
What he doesn’t realize is the humble guy who opened the door for him at the coffee shop is also a millionaire…
Or the guy who still drives that old Mazda, but keeps it clean.
Ignore those who flaunt and only seek status.
They are the most likely to lose everything.
#4] “You will get rich by giving society what it wants but does not yet know how to get. At scale.”
One of the most valuable things you can do is learn how to ask the right questions…
For example, last year, I asked everyone I knew: “What’s one book you’ve been dying to read, but doesn’t exist.”
If you’re thinking of writing a book, that’s a great question to ask.
Ask questions to clarify your vision. To figure out how to frame your vision to others in a way they can understand immediately.
This is incredibly revealing… and led me to begin the book, “99 Things Every Millennial Man Should Know”…
(A title that lets people understand immediately who it’s for and what’s in it.)
Some people know what they want, but don’t know how to get it.
Most people don’t know what they want (yet)… but they’ll know it when they see it.
#5] “Arm yourself with specific knowledge, accountability, and leverage.
“Specific knowledge is knowledge that you cannot be trained for.If society can train you, it can train someone else, and replace you.”
This is knowledge that’s specific to YOU.
There’s (at least) one thing you can — or are willing to — do better than anyone on Earth.
It’s a matter of focusing on the timeless over the timely.
“Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.”
#6] “Labor leverage will impress your parents, but don’t waste your life chasing it.”
“Capital and labour are permissioned leverage. Everyone is chasing capital, but someone has to give it to you. Everyone is trying to lead, but someone has to follow you.”
Chase, instead, permissionless leverage, says Ravikant.
“Code and media are permissionless leverage. They’re the leverage behind the newly rich. You can create software and media that works for you while you sleep. An army of robots is freely available – it’s just packed in data centres for heat and space efficiency. Use it. If you can’t code, write books and blogs, record videos and podcasts.”
#7] “When you’re finally wealthy, you’ll realize that it wasn’t what you were seeking in the first place. But that’s for another day.”
How to get started on this journey?
Well, here’s one way…
All of these principles are distilled into one practical, instantly actionable, book.
Flip through and stop at any page, and you can start making an extra $300 to $10,000 per month using permissionless leverage.
It’s called the “Side-Hustle Bible” for a reason.
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Managing editor, Laissez Faire Today