THE ALMANACK OF NAVAL RAVIKANT BY ERIC JORGENSON

Key Concepts: Wealth, Judgment, and Happiness
Jorgenson curates Naval’s most profound insights into a framework for a life of freedom:

• Specific Knowledge: This is the knowledge you cannot be trained for. It is found by pursuing your genuine curiosity and passion rather than whatever is "hot" right now. If the society can train you, it can replace you.
• The Power of Leverage: Modern wealth is created through leverage. Naval identifies three types: labor (people working for you), capital (money), and "permissionless" leverage—code and media. Code and media are the most powerful because they work for you 24/7 with zero marginal cost of replication.
• Compound Interest in Everything: Compound interest applies to money, but it also applies to reputations and relationships. Find a few things you can commit to for decades to see the massive returns that come at the end.
• Accountability and Brand: To build great wealth, you must take risks under your own name. Society rewards those who take personal accountability with "skin in the game."
• Accountability and Brand: To build great wealth, you must take risks under your own name. Society rewards those who take personal accountability with "skin in the game."
• Judgment is the Decisive Skill: In an age of infinite leverage, one right decision can be worth millions. Hard work is irrelevant if you are headed in the wrong direction.
• Happiness as a Choice: Naval argues that happiness is the "absence of desire," especially the desire for things to be different than they are. It is a highly personal skill that can be developed through meditation, sunlight, and the refusal to take oneself too seriously.
• The Five-Year Rule: Most people overestimate what they can do in a year but underestimate what they can do in five. If you aren't willing to stick with something for ten years, don't even give it ten minutes.