It is hard to be rich. It is even harder to be wealthy. It is the hardest, though, to be rich, wealthy, happy, and have the freedom you want and enjoy. It needs an upgrade of mind model on world and life.
Two great articles, How to be successful from Sam Altman, and How to be rich without getting lucky by Naval are extremely insightful. Here are the 11 truths from their wisdom that resonate with me the most. Hope you like them too:
Be Internally Driven: the most important question is how you define success and happy in your heart. You can only be the best you, living in a life u define as the best. Motivation is the most important factor in success.
Seek Wealth, not Money or Status: You get rich by own things. Wealth is assets that earn while you sleep, you can only get rich by owning a portion of something (property, equity, assets) that scales or appreciates value exponentially. You can never get rich by renting out your time, because it only grow linearly.
Money does not buy you happiness: money only solves money problems. A calm mind, a fit body and a house full of love cannot be bought, they must be earned. The ultimate purpose of money is so you don’t have to be in a specific place, at a specific time, doing anything you don’t want to do. Take that freedom to take care of your health, your soul, and your family.
Making money is not about luck: it is about becoming the kind of person who makes money, by building a unique character, a unique brand, a unique mindset, where you create your own luck. Stack up one chip at a time, not all at once.
Mathematics and Logic are the basis for understanding everything else.
Productize Yourself and Apply Leverage: Figure out what you’re uniquely good at, and apply as much leverage as possible. Prefer new leverage (product and media) over old ones (capital and labor).
Arm Yourself With Specific Knowledge pursuing your genuine curiosity, which should be highly creative or technical, on the bleeding edge of technology, art and communication.
Escape Competition Through Authenticity: Nobody can compete with you on being you. Focus on things you are uniquely good at. Competition will blind you to greater games.
Give Society What It Doesn’t Know How to Get: Society will pay you for creating what it wants and delivering it at scale.
An Ideal Business Model has network effects, low marginal costs and scale economies.
Compound into long term gains: being ethical is long-term greedy, avoid ruins that wipe all what you have to zero. Playing long term is also a way to leverage up.
This is a new year special soul food edition from Natively Web3 newsletter. A regular issue will be resumed next week. Hope you enjoy it!