The Almanack of Naval Ravikant

This document compiles key insights from Naval Ravikant’s teachings on wealth creation and happiness, organized into two main sections.

Part I: Wealth - Core Principles

Foundational Concepts

The notes emphasize that wealth-building requires specific knowledge (skills you develop through passion rather than formal training), accountability (taking responsibility for outcomes), and leverage (multiplying your efforts through capital, people, or products with no replication costs).

Key Wealth-Building Strategies

• Seek ownership and equity rather than trading time for money
• Develop skills in both selling and building
• Focus on creating value at scale that society wants but cannot yet produce
• Cultivate judgment through learning foundational subjects like microeconomics, game theory, psychology, and mathematics

Leverage Types

The framework distinguishes between permissioned leverage (capital, labor—requiring external approval) and permissionless leverage (code and media—available to anyone willing to create).

Decision-Making Framework

If you cannot clearly decide between options, the answer is no. This applies to major life choices including partnerships, relocations, and opportunities.

Part II: Happiness

Core Philosophy

Happiness is framed as a learnable skill resulting from internal peace rather than external achievement. The author emphasizes that “real happiness only comes as a side effect of peace.”

Key Practices

• Building positive habits (exercise, meditation, reading)
• Living according to core values and authenticity
• Maintaining presence rather than dwelling on past or future
• Choosing environments and people that support well-being

The Paradox

Success requires dissatisfaction and striving, while happiness demands contentment and acceptance.