Naval Ravikant

Naval Ravikant quotes on money management

Indian-American entrepreneur and investor. He is the co-founder, chairman, and former CEO of AngelList.

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1

Returns are made on the way up. Reputations are made on the way down.

2

Solve via iteration. Then get paid via repetition.

3

Spirituality is a luxury good. In olden times, you had to lower your wants, first. In modern times, you can raise your means instead.

4

Physical monopolies (phone company, electric utility) aggregate supply and raise prices. They underpay for demand and make excess profits. Digital monopsonies (search engine, social network) aggregate demand and lower prices. They underpay for supply and make excess profits.

5

It’s not that paying down technical debt will make your startup successful. It’s that successful startups have the luxury of paying down technical debt.

6

Wonder if Twitter has the highest average IQ, and therefore the lowest ad revenue of the major social networks.

7

Investors may prefer tokens over equity - tokens give direct ownership of revenue, equity may be profits trapped inside corporate structure.

8

Startups don't die when they run out of cash, they die when the founders run out of energy.

9

Companies with predictable, recurring revenue can skip highly dilutive traditional venture rounds. From seed / development round, to debt against recurring revenue, to growth / secondary round.

10

The lucrative privilege of seigniorage is moving from bankers to technologists.

11

Ethics is what you do despite the money. If being ethical were profitable, everyone would do it.

12

Blockchains have high internal coordination costs for security and stability and lower external coordination costs for social scalability.

13

The Internet reduces external coordination costs, and thus the "minimum efficient scale" for both the firm and the nation-state.

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