This newsletter is a summary of Naval Ravikant’s famous Tweetstorm on “How To Get Rich (Without Getting Lucky).

You can read it in the first few pages of his book here: https://navalmanack.s3.amazonaws.com/Eric-Jorgenson_The-Almanack-of-Naval-Ravikant_Final.pdf

Unlike many authors who made their money by selling books or courses, Naval built his wealth through his career, hard work, and by creating his own luck.

He doesn’t sell courses, and he shares all his ideas about wealth for free online.

Here are his philosophies, in simple terms:

Think of money as social credits. It’s the ability to occupy someone else’s time.

If I do my job right, if I create value for society, society says, “Oh, thank you. We owe you something in the future for the work you did in the past. Here’s a little IOU (I Owe You).” Let’s call that money.

Wealth is the thing you really want. It’s the assets that earn while you sleep. It’s the robots, factories, code, YouTube videos, podcast, and articles you wrote online that’s getting views.

Wealth is like a 24/7 system, serving people and generating income.

If you want to get rich, focus on building or owning assets:

• Invest in businesses

• Create content that helps others

• Build something that continues to work even when you’re not

If you’re always comparing your own success and failures with others, you’re going to get into a relative mindset.

• You’re always going to hate people who do better than you

• You’re always going to be jealous and envious.

• You’re always going to feel that you deserve more.

And whenever you try and do business with other people, they’ll sense those feelings in you and distance themselves. Humans are wired to know how someone else feels deep down.

Being “anti-rich” will literally prevent you from becoming wealthy, and that’s not only because of the people around you, but also because of your habits and viewpoints about money.

This is why you need to get out of the “I hate rich people” mindset. Understand that getting rich (and being a good person) can both be true at the same time.

Be optimistic. Be positive. Optimists actually do better in the long run.

They are fundamentally two huge games in life that people are playing:

1. The money game

2. The status game

Some people play the money game because they believe that it’s going to solve all their problems, which is not true. Money can only solve all your MONEY problems.

The rest — happiness, content, peace, anger, jealously — having more money doesn’t do anything to change them. It only amplifies who you already are.

This is where some people believe that they shouldn’t make money, so they attack the whole enterprise by saying, “Making money is evil. You shouldn’t do it.”

But they’re actually playing another game: The status game.

Status is a zero-sum game. It’s a very old game, and we’ve been playing it since we’re monkeys. It’s purely hierarchical and dependent on overthrowing whoever’s in power. Who’s number one? For number two to take over number one, number one has to move out of that slot.

For there to be a winner, there must be a loser.

Politics, sports, climbing the corporate ladder, and gambling are all examples of the status game.

And to win in this game, you have to put someone else down. That’s why I don’t like playing it. It will make you into an angry, combative person, where you’re always fighting to dethrone someone else.

If you’re paid for renting out your time — like waiters, cashiers, and even lawyers or doctors — you can make some money, but you’re not going to achieve financial freedom.

That’s because you…

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