MI Rewind: Naval w/ Eric Jorgenson
01/26/24 • 49 min
1 Listener
On today’s Millennial Investing Rewind Episode, Robert Leonard chats with Eric Jorgenson about who Naval Ravikant is, why he wanted to write a book about him as a guide to wealth and happiness, how his strategy of not making any money out of the book came about and why he chose to go that route, the most important thing Eric has learned from Naval, and much, much more!
IN THIS EPISODE, YOU’LL LEARN
00:00 - Intro
11:38 - How someone can build or find a position of leverage and why this is important going into the future.
12:43 - The breakdown of Naval’s framework on how to get rich without getting lucky.
21:28 - What’s behind Naval's idea wherein he states that if you don't have equity in a business, then you don’t have a path towards financial freedom.
25:46 - What the quote, “You’ll never be rich since you’re obviously smart, and someone will offer you a job that’s just good enough” means.
46:44 - Why Naval believes the forty-hour work week is outdated and why we should be like athletes instead.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
- Related episode - MI091: Warren Buffett’s #3 & Charlie Munger’s #1 Business Book of All-Time w/ Robert Cialdini.
- Recommended Book: The Almanack of Naval Ravikant by Eric Jorgenson.
- Eric Jorgenson's podcast.
- Recommended Book: The 4-Hour Workweek by Tim Ferriss.
- Recommended Book: Poor Charlie’s Almanack by Charlie Munger.
- Recommended Book: The Complete Calvin and Hobbes by Bill Watterson.
- Recommended Book: Influence, New and Expanded: The Psychology of Persuasion by Robert Cialdini.
- Recommended Book: Angel by Jason Calacanis.
- Recommended Book: The Lean Startup by Eric Ries.
- Check out the books mentioned in the podcast here.
NEW TO THE SHOW?
- Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
- Check out our Millennial Investing Starter Packs.
- Browse through all our episodes (complete with transcripts) here.
- Try Kyle's favorite tool for picking stock winners and ma...
On today’s Millennial Investing Rewind Episode, Robert Leonard chats with Eric Jorgenson about who Naval Ravikant is, why he wanted to write a book about him as a guide to wealth and happiness, how his strategy of not making any money out of the book came about and why he chose to go that route, the most important thing Eric has learned from Naval, and much, much more!
IN THIS EPISODE, YOU’LL LEARN
00:00 - Intro
11:38 - How someone can build or find a position of leverage and why this is important going into the future.
12:43 - The breakdown of Naval’s framework on how to get rich without getting lucky.
21:28 - What’s behind Naval's idea wherein he states that if you don't have equity in a business, then you don’t have a path towards financial freedom.
25:46 - What the quote, “You’ll never be rich since you’re obviously smart, and someone will offer you a job that’s just good enough” means.
46:44 - Why Naval believes the forty-hour work week is outdated and why we should be like athletes instead.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
- Related episode - MI091: Warren Buffett’s #3 & Charlie Munger’s #1 Business Book of All-Time w/ Robert Cialdini.
- Recommended Book: The Almanack of Naval Ravikant by Eric Jorgenson.
- Eric Jorgenson's podcast.
- Recommended Book: The 4-Hour Workweek by Tim Ferriss.
- Recommended Book: Poor Charlie’s Almanack by Charlie Munger.
- Recommended Book: The Complete Calvin and Hobbes by Bill Watterson.
- Recommended Book: Influence, New and Expanded: The Psychology of Persuasion by Robert Cialdini.
- Recommended Book: Angel by Jason Calacanis.
- Recommended Book: The Lean Startup by Eric Ries.
- Check out the books mentioned in the podcast here.
NEW TO THE SHOW?
- Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
- Check out our Millennial Investing Starter Packs.
- Browse through all our episodes (complete with transcripts) here.
- Try Kyle's favorite tool for picking stock winners and ma...
Previous Episode
MI321: Uncovering Stocks Like A Pro w/ Stephen Clapham
Kyle Grieve chats with Stephen Clapham about how to use “laterals” to leverage your circle of competence and find great ideas, simple ways to test your investment hypothesis, methods to reduce your exposure to investing frauds, the importance of investing in businesses with properly incentivized management, why you should pay close attention to the value a business's debt, the role that stock charts can play in a fundamental investors toolbox, the power of simplicity in valuation, and a whole lot more!
IN THIS EPISODE, YOU’LL LEARN
00:00 - Intro
01:54 - How to detect frauds.
04:55 - How to find interesting ideas in different geographies.
11:31 - How to utilize your friends as an investing filter.
17:42 - How charts can help you identify great opportunities even if you are a fundamentally focused investor.
18:16 - The importance of market perception.
25:16 - Management red flag.
31:34 - Why you should place a heavy emphasis on back-of-the-envelope evaluations.
35:24 - Why it’s important to have the skill to detect frauds.
41:01 - The pitfalls of ESG investing.
46:30 - The best ways to build investing skills.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
- Pick up Stephen’s book: The Smart Money Method here.
- Subscribe to Stephens’s Newsletter here.
- Check out Stephen’s courses here.
- Check out the books mentioned in the podcast here.
NEW TO THE SHOW?
- Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
- Check out our Millennial Investing Starter Packs.
- Browse through all our episodes (complete with transcripts) here.
- Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance.
- Enjoy exclusive perks from our favorite Apps and Services.
- Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
- Learn how to better start, manage, and grow your business with the best business podcasts.
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Next Episode
MI322: Enduring Ventures w/ Sieva Kozinsky
In this week’s episode, Patrick Donley sits down with Sieva Kozinsky to do a deep dive into his entrepreneurial career and his journey to building his holding company, Enduring Ventures. You’ll learn about Sieva’s early adventures in entrepreneurship, the inspiration Berkshire Hathaway provided, the importance of partnering with the right people, and so much more!
Sieva Kozinsky is an entrepreneur and co-founder of Enduring Ventures, a long-term holding company dedicated to buying and building beautiful businesses and stewarding them with exceptional, values-driven leadership.
IN THIS EPISODE, YOU’LL LEARN
00:00 - Intro.
02:07 - What it was like for his family living in Russia and immigrating to the U.S.
05:19 - How his family’s sacrifices have fueled his drive.
06:27 - How a course in entrepreneurship in college changed his career trajectory.
12:29 - How that first business hit a plateau and what his next steps were.
20:18 - What kind of advice he gives younger entrepreneurs just starting out.
23:05 - How joining a book club led to meeting Sam Parr and Tim Ferriss.
30:00 - What lessons he learned about Warren Buffett by reading Snowball.
30:19 - What he learned from Buffett’s one-time partner, Rick Guerin.
33:28 - How he met his co-founder and the importance of having the right partner.
53:12 - What Scribe Media does and why they acquired it.
58:07 - Why Sieva has decided to write his own book.
60:05 - How Twitter has changed the course of his career.
64:32 - Why understanding the strategy of the Patels is important and much more!.
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
- Recommended book: The 4-Hour WorkWeek by Tim Ferriss.
- Recommended book: Can’t Hurt Me by David Goggins.
- Recommended book: The Almanack of Naval Ravikant by Eric Jorgenson.
- Recommended book: Dhandho Investor by Mohnish Pabrai.
- Check out Sieva’s website.
- Related episode – MI306: Almanacks and Anthologies w/ Eric Jorgenson | YouTube video.
- Check out the books mentioned in the podcast here.
NEW TO THE SHOW?
- Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
- Check out our Millennial Investing Starter Packs.
- Browse through all our ep...
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