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The Almanack of Naval Ravikant

"Specific knowledge is often highly technical or creative. It cannot be outsourced or automated." - Naval Ravikant, The Almanack of Naval Ravikant. This specific knowledge or career capital has to be acquired through knowledge and skills. Working in job industries where the environment is based on skills & knowledge instead of reputation or resources.

A rich network leads to a great team, skills, knowledge, and timing. Wealth is having assets earned while one is sleeping. Wealth = Peace, Money = compound interest + wealth. Ethical wealth creation is 100% possible. Ignore people who despise wealth. Get equity in a business.

Provide a service or product that's useful for a society that it wants but doesn't know that it wants yet. For instance, predicting the future of technology combined with the correct timing of introducing a product or service to the market. Mark Zuckerberg timed the introduction of his VR headset at the wrong time, but its time will come. Steve Jobs introduced calligraphy concepts like fonts, italics, etc to MacIntosh giving it a massive MOAT - a competitive advantage over other competitors.

What are industries that will always exist or will for a long period of time? Content creation and programming.

Technology like software will be not welcomed by the market. The future of in-person networking will decline due to developments in augmented reality. Making money online is going to become more efficient and will be as reality more technologically advanced.

"Any sufficiently advanced technology is indistinguishable from magic.” - Arthur C. Clarke, science fiction writer.

Specific knowledge is highly creative or highly technical knowledge that can't be automated or replicated by another individual. Specific knowledge takes a long time to build and can only be learned through experience and practice of the skill.

The people around you should be highly intelligent/creative, biased towards action (determination + direction), and have integrity. Don't partner with cynics or pessimists. Optimistic realists are the best combination. Never surround yourself with low performers. They'll "magically" decrease your performance. Jokes aside, there might be a subconscious or conscious association with the individual who's been labeled as a low performer and the mind may connect the self with that person. Specific knowledge should be cultivated and nourished through determination and curiosity.

One may ruin the other. For example, artists lose their love for their craft. The billionaires and celebrities say to "follow your passion" but would the same be said to a 5-foot person who wants to play in the NBA? The ability to learn and grow in skills isn't discouraged. Inspiration that can wane for periods of time that society has deemed as "passion" is. If you understand computers, code. If you understand design, create. Do what separates you from other people. If you're not at anything, pick something and become world-class at it.

The idea of building competency in order to reach the area of passion, gratitude, and satisfaction in a field is simply from becoming so good they can't ignore you.

"→ Happiness = Health + Wealth + Good Relationships

→ Health = Exercise + Diet + Sleep

→ Exercise = High Intensity Resistance Training + Sports + Rest

→ Diet = Natural Foods + Intermittent Fasting + Plants

→ Sleep = No alarms + 8–9 hours + Circadian rhythms

→ Wealth = Income + Wealth * (Return on Investment)

→ Income = Accountability + Leverage + Specific Knowledge

→ Accountability = Personal Branding + Personal Platform + Taking Risk?

→ Leverage = Capital + People + Intellectual Property

→ Specific Knowledge = Knowing how to do something society cannot yet easily train other people to do"

Building wealth can be summarized as having equity through an entrepreneurial endeavor and "productizing yourself" by getting to the bleeding edge of a field and applying leverage under your name (accountability).

An actionable step towards getting specific knowledge & leverage at the same time is through the process of working on projects (inspiration from Paul Graham's essays) and reading & writing.

Working on projects builds experience in a field and increases the reps into practicing that skill. Reading & Writing create information for you to figure out what it is that you find fascinating through your experiences, predispositions, and what you find appealing. Writing synthesizes the information and creates layers of information that help you what it is you're exposed to. You learn more about yourself in the process of understanding what it is you want, find fascinating, and helps you have velocity instead of speed.

Velocity = Speed + Displacement, meaning you need to know where it is you're going and go at it with 100% speed. For instance, if you know entrepreneurship is the best way to earn as much money as possible and invest in assets in high amounts (a form of "passive income") then you look for those opportunities granted the circumstances are in your favor.


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