This is extremely insightful and inspiring advice. "you can do one hour of creative/high leverage work and have a huge effect, or you can do thousands of hours for an employer and have no effect" Naval's mind is amazing.
Gold nuggets here, to show to any 18 years old who want to go out of their parent’s house and work for in a corporate job. Stay home and start a business with not operating cost, minimum investment and with a digital product you can make once and sell twice
not always the case tho. i moved out my moms house and i’ve now felt more happier and productive than ever. only like 5% actually are productive staying in their parents house for an extended amount of time. most people need to be thrown out on their own to be pinched figuratively and put some fire in their @ss!
You want to work in areas where *your imputs don't match your outputs.* If you can be tought to do it eventually you'll be replaceble.The real wealth is by starting your own companies. Businesses that have high *crativity* and high *leverage.* Tools and leverage are what creates the disconnection between imputs and outputs.
Taleb defined this as scalability and said that back in his college days that's what he was looking for. Something scalable with a disconnect between input and output
Yes, Taleb makes the comparison between mediocristan and extremistan. He points that inequality of income in sclable jobs is huge, and that more secure, steady flows of cash is also a good option for some people depending on character. Sure, if you want to be a billionare you gotta go with the second type, but there is a possibility to make good money in more deleveraged jobs.
This is the reason why only 5% are successful because we are taught from a young age to go to school, get a job and retire. The bubble, Chained to the Rhythm
@@thetruths7389 Yes, but the chances are that from millions of aspirant NBA players, only 300 a year make it, in a business you got higher chances ( still a great margin for failure) You have to understand the probabilities that you have
