On May 31, 2018, Naval Ravikant logged onto Twitter and wrote a thread titled: “How To Get Rich (Without Getting Lucky).”
At the time, Naval Ravikant was already the founder and CEO of angel investment platform AngelList and was an early investor in Uber, FourSquare, Twitter, Wish.com, and an early buyer of Bitcoin.
In short, he was a highly successful Silicon Valley executive with extensive experience in building businesses and investing.
And in 30 short tweets, he summarized everything he knew about building wealth.
Because it was so insightful, the thread immediately exploded in popularity and was re-tweeted more than 40,000 times.
Given that a tweet is limited to 280 characters, Naval didn’t waste any space. For example, Tweet number 4 reads like this:
“You’re not going to get rich renting out your time. You must own equity – a piece of a business – to gain financial freedom.”
In fact, every Tweet is just about one sentence.
But it’s Tweet number 1 that really stands out. It was the first thing he put out: “Wealth is having assets that earn while you sleep.”
If you’ve been reading us for any amount of time, you know that in order to build wealth, you must own equity in businesses that produce cash flow that you don’t have to work for.
These produce enough income to cover all of your expenses, year-in and year-out so that you never have to work to earn a living again.
Naval’s philosophy, which is similar to that of Warren Buffett or Robert Kiyosaki, is the foundation of some of the things I teach. It's this message I want to get out to the world.
But knowing this wisdom is just the first step.
Applying it is where it really starts making waves in your life. But this is where most people run into trouble.
What businesses are you supposed to own? How do you buy them? How much do you invest in each, and why?