5 ms·

How to Get Rich (without getting lucky)

51 points by vyrotek 8y ago

dredmorbius 8y ago
Link directly to the source tweet: https://twitter.com/naval/status/1002103360646823936 https://twitter.com/naval/status/1002103360646823936 (Though pg's endorsement is interesting.)
deleted 8y ago
[deleted]
amrrs 8y ago
Previous HN discussion: https://news.ycombinator.com/item?id=17203304 https://news.ycombinator.com/item?id=17203304
Smithalicious 8y ago
I'm not terribly impressed. A lot of these are of the form "do [something that's obviously a good idea]" without much info on which things to prioritise or how to actually do them. Stuff like "Pick business partners with high intelligence, energy, and, above all, integrity." (as though anyone wanted to pick a dumb, lazy, sleazy business partner)
- xkcd-sucks 8y ago
  "How to get rich without getting lucky: Be lucky"
  - A2017U1 8y ago
    The moment I saw @naval actually burst out laughing, you've got to be really delusional to believe this stuff. Highly recommend reading who this person is before reading the thread. It feels like the dodgy gurus of the 60's are back stronger than ever.
    - rudigergerm 8y ago
      I googled and found he's some popular VC, do you know anything else?
      - A2017U1 8y ago
        He's involved with Angellist and a few cryptocurrencies. Don't get me wrong I think the guy has some amazing insights and is worth listening to, yet simultaneously pretending that being a VC middleman with all this money sloshing around makes one a genius and involved no luck is silly. You can make repeatedly bad investment decisions in the last decade and still be up a few hundred percent. Take a dim view of people who consider that to be skill, we are in an unprecedented time with regards to money creation and certain asset prices reflect that.
    - codesternews 8y ago
      who is the person? never heard of him.
dickeytk 8y ago
https://threadreaderapp.com/thread/1002103360646823936.html https://threadreaderapp.com/thread/1002103360646823936.html
dannykwells 8y ago
Literally just reads like a summary of a summary of a bad business book. This advice is maybe only useful to 23 year old tech bros. Also, does anyone in tech realize how much, say, lawyers and doctors make? I feel like this advice literally just disregards the truth that highly highly trained individuals in some fields do very well. Said another way: rich without luck = go to a very good med/law school and work very hard for a decade or two. No luck needed beyond the requisite life circumstances.
- smileysteve 8y ago
  > Also, does anyone in tech realize how much, say, lawyers and doctors make? Lawyer median income 2014: 75k/year Doctors hold up better to this stereotype at median income of $208k (2017)
  - dannykwells 8y ago
    Median founder income = 0$/year since your start up will go bust and you'll lose the money you put into it. So being a founder is a terrible career path if you're just average. All of this advice is presaged on being exceptional. Exceptional doctors earn 400-500K year, lawyers too.
    - lern_too_spel 8y ago
      Partners (in both law and private practice medicine) can earn much more.
- astura 8y ago
  I'd say having the skills/wherewithal/drive/smarts/stomach to be able to get into med school then pass it requires quite a bit of luck, as well as a lot of effort.
wintorez 8y ago
"If you want to become a millionaire, make a positive impact in the lives of a million people. If you want to become a billionaire, make a positive impact in the lives of a billion people." I don't remember where/when I read this, but this is my favorite quote about wealth.
- lern_too_spel 8y ago
  It doesn't have to be positive. See Putin and Pablo Escobar.
  - wintorez 8y ago
    Sad, but true
rchaud 8y ago
> "Pick an industry where you can play long term games with long term people." Ah yes, the sacred VC creed of moving slowly and not breaking anything. For more empty platitudes, see interviews of Warren Buffett complaining about how he's not getting taxed enough.

51 points by vyrotek 8y ago

Link directly to the source tweet: https://twitter.com/naval/status/1002103360646823936 https://twitter.com/naval/status/1002103360646823936 (Though pg's endorsement is interesting.)

deleted 8y ago

[deleted]

amrrs 8y ago

Previous HN discussion: https://news.ycombinator.com/item?id=17203304 https://news.ycombinator.com/item?id=17203304

Smithalicious 8y ago

I'm not terribly impressed. A lot of these are of the form "do [something that's obviously a good idea]" without much info on which things to prioritise or how to actually do them. Stuff like "Pick business partners with high intelligence, energy, and, above all, integrity." (as though anyone wanted to pick a dumb, lazy, sleazy business partner)

xkcd-sucks 8y ago
"How to get rich without getting lucky: Be lucky"
- A2017U1 8y ago
  The moment I saw @naval actually burst out laughing, you've got to be really delusional to believe this stuff. Highly recommend reading who this person is before reading the thread. It feels like the dodgy gurus of the 60's are back stronger than ever.
  - rudigergerm 8y ago
    I googled and found he's some popular VC, do you know anything else?
    - A2017U1 8y ago
      He's involved with Angellist and a few cryptocurrencies. Don't get me wrong I think the guy has some amazing insights and is worth listening to, yet simultaneously pretending that being a VC middleman with all this money sloshing around makes one a genius and involved no luck is silly. You can make repeatedly bad investment decisions in the last decade and still be up a few hundred percent. Take a dim view of people who consider that to be skill, we are in an unprecedented time with regards to money creation and certain asset prices reflect that.
  - codesternews 8y ago
    who is the person? never heard of him.

dickeytk 8y ago

https://threadreaderapp.com/thread/1002103360646823936.html https://threadreaderapp.com/thread/1002103360646823936.html

dannykwells 8y ago

Literally just reads like a summary of a summary of a bad business book. This advice is maybe only useful to 23 year old tech bros. Also, does anyone in tech realize how much, say, lawyers and doctors make? I feel like this advice literally just disregards the truth that highly highly trained individuals in some fields do very well. Said another way: rich without luck = go to a very good med/law school and work very hard for a decade or two. No luck needed beyond the requisite life circumstances.

smileysteve 8y ago
> Also, does anyone in tech realize how much, say, lawyers and doctors make? Lawyer median income 2014: 75k/year Doctors hold up better to this stereotype at median income of $208k (2017)
- dannykwells 8y ago
  Median founder income = 0$/year since your start up will go bust and you'll lose the money you put into it. So being a founder is a terrible career path if you're just average. All of this advice is presaged on being exceptional. Exceptional doctors earn 400-500K year, lawyers too.
  - lern_too_spel 8y ago
    Partners (in both law and private practice medicine) can earn much more.
astura 8y ago
I'd say having the skills/wherewithal/drive/smarts/stomach to be able to get into med school then pass it requires quite a bit of luck, as well as a lot of effort.

wintorez 8y ago

"If you want to become a millionaire, make a positive impact in the lives of a million people. If you want to become a billionaire, make a positive impact in the lives of a billion people." I don't remember where/when I read this, but this is my favorite quote about wealth.

lern_too_spel 8y ago
It doesn't have to be positive. See Putin and Pablo Escobar.
- wintorez 8y ago
  Sad, but true

rchaud 8y ago

> "Pick an industry where you can play long term games with long term people." Ah yes, the sacred VC creed of moving slowly and not breaking anything. For more empty platitudes, see interviews of Warren Buffett complaining about how he's not getting taxed enough.