Building Wealth - Naval Ravikant

 You're not going to get rich renting out your time. You must own equity - a piece of the business - to gain your financial freedom. 

Pick business partners with high intelligence, energy, and above all, integrity. Don't partner with cynics and pessimists. Their beliefs are self- fulfilling. 

Learn to sell. Learn to build. If you can do both, you will be unstoppable. 

Embrace accountability, and take business risks under your own name. Society will reward you with responsibility, equity, and leverage. 

Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media). Capital means money. To raise money, apply your specific knowledge with accountability and show resulting good judgement. Labor means people working for you. It's the oldest and most fought - over form of leverage. Labor leverage will impress your parents, but don't waste your life chasing it. Capital and labor 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. 

If you can't code, write books and blogs, record videos, and podcasts. That is how you will gain leverage. 

Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers. 

Set and enforce an aspirational personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it.