The single most Important Asset [w/ Naval Ravikant]

Hey friend!

Yesterday I posted a new video from a conversation between Naval Ravikant, Eric Jorgenson, Sahil Lavingia, among others. They talk about the most precious asset any person can have: time.

Here is all the written content I produced (in a nice format) plus the latest things I have been pondering.

👨 Naval Ravikant

Naval is an entrepreneur and angel investor, a co-author of Venture Hacks, and a co-maintainer of AngelList.

✍️ Quotes

"Your brain is most intelligent when you don’t instruct it on what to do—something people who take showers discover on occasion."

"Don’t talk about “progress” in terms of longevity, safety, or comfort before comparing zoo animals to those in the wilderness."

- Nassim Taleb

📝 Notes

“The overscheduled life is not worth living.” - Naval Ravikant

"People underestimate how much misery schedules bring to their life."

"There is nothing that brings me as much joy and happiness as an empty calendar"

- Empty Calendar --> Freedom to do things that are important and that you want to do, instead of going thru a day of obligations.

- Time is the most precious asset.

* Any rich person would trade most of his money for some extra years.

* Be conscious about where you allocate your time.

** “You could leave life right now. Let that determine what you do and say and think.” - Marcus Aurelius.

* * It can be productive or not under other people's eyes. What matters is that is worth the time to you.

* Freedom to spend your time how you want is really important.

- Your world-view is your world.

• Life is a single-player game. ( it is all an internal game).

Link to the video:

https://www.youtube.com/watch?v=7yEJiBWj4GI&ab_channel=PickingNuggets

---

🤓 What I have been pondering lately...

1) Nassim Taleb explaining the concepts of his most popular book: The Black Swan.

This is an insanely valuable speech. The thing I most took away is this idea that there are 2 ways to categorize the world:

• Mediocristland

• Extremistland

In the first case (Mediocristland), statistics are a useful tool to explain phenomenons and predict probabilistically unknown variables. A good example: distribution of people's heights within a population.

In the second case (Extremistland), it is impossible to use traditional statistics tools, but this does not stop people from doing it. Good examples: the economy, future prediction, Medicine... (anything in which only one data point can generate almost all of the consequences --> that is, a black swan). --> Winner-takes all kind of dynamic.

-Some Advice:

• Humans likely overestimate returns from banks, while they underestimate returns from Venture Capital. (this is because for banks black swans can only be negative, while for VC only positive).

• Do not trust people that wear suit and tie (they use statistics tools from Mediocristland to estimate things that live in the world of Extremistland).

The Future Has Always Been Crazier Than We Thought | Nassim Nicholas Taleb — www.youtube.com Skeptical empiricist Nassim Taleb, author of "The Black Swan: The Impact of the Highly Improbable", has bracing things to say about the future. It is inevit...

2) Mohnish Pabrai speech on how to start a business.

Takeaways:

* Appear bigger.

** 1/3 of the (very successful) businesses would use the word "global" or "international" in their name.

** One thing Mohnish did: Say you are the VP and Director of the Marketing Department when meeting with potential customers.

* Notice an offering gap (arbitrage). Something the market wants, but is not being provided.

** You can't see the moat (competitive advantage) from day one. You start by covering offering gaps.

* Pay attention to what your customers say and want. Go all in into what they say!

* Cloning

Mohnish Pabrai: Getting Traction Without Funding — www.youtube.com Mohnish Pabrai at the TiE Austin Speaker Series - Investment & Entrepreneurs on August 12, 202200:00:00 Introduction 00:02:33 Non-Venture b...

🔶 If this content is being valuable to you, consider supporting the project :)

Julio is picking and sharing nuggets in YouTube and Revue-Newsletter — www.buymeacoffee.com Hey 👋 My name is Julio and I'm from Barcelona, Spain. Here you can buy me a cold beer if you want, or support me with a monthly membership ❤️

Until next time,

Julio xx