Why 99% of Your Efforts Might Be Wasted

Kurze Zusammenfassung

Das Video fasst sieben Prinzipien aus dem Buch "The Almanack Of Naval Ravikant" zusammen, die einen großen Einfluss auf den Ansatz zum Leben und zur Vermögensbildung haben. Die Prinzipien umfassen den Aufbau von Eigenkapital statt des Verkaufs von Zeit, die Bedeutung des Zinseszinses, die Entwicklung spezifischen Wissens, die Konzentration auf die obersten 1 % der Bemühungen, die Vermeidung von Nullsummenspielen, die Nutzung von Hebelwirkung und die Schaffung von Glück.

  • Vermögensaufbau durch Eigenkapitalbesitz
  • Langfristiges Denken und Zinseszins
  • Entwicklung spezifischer Kenntnisse und Fähigkeiten
  • Konzentration auf die wichtigsten 1 % der Bemühungen
  • Vermeidung von Nullsummenspielen
  • Nutzung von Hebelwirkung zur Skalierung
  • Eigenes Glück durch Charakterbildung

Wenn es ein anderes Spiel gibt

Die Sprecherin teilt mit, dass sie in einer schwierigen Phase ihres Lebens das Buch "The Almanack Of Naval Ravikant" gelesen hat. Sie erkannte, dass die meisten ihrer Bemühungen nicht den gewünschten Erfolg brachten. Das Buch zeigte ihr, dass es ein anderes, lohnenderes Spiel gibt. Sie betont, dass verschwendete Mühe nicht negativ ist und teilt sieben Prinzipien aus dem Buch, die ihren Lebensansatz und ihre Vermögensbildung beeinflusst haben.

Eigentum

Man wird nicht reich, wenn man seine Zeit vermietet. Um finanzielle Freiheit zu erlangen, muss man Eigenkapital besitzen. Der springende Punkt ist der Übergang von einer konsumorientierten zu einer eigentumsorientierten Denkweise. In einem Job besitzt man nichts, auch nicht in Spitzenpositionen. Wohlstand bedeutet, Vermögenswerte zu besitzen, die Geld generieren, während man schläft. Diese Vermögenswerte können Inhalte, Unternehmen, Investitionen, eine persönliche Marke oder geistiges Eigentum sein. Es ist nicht notwendig, eine Immobilie zu besitzen oder große Investitionen zu tätigen, um mit der Vermögensbildung zu beginnen. Man sollte sich fragen, welcher Prozentsatz des Einkommens aus aktiver Arbeit stammt und welcher aus Vermögenswerten, die man besitzt.

Langfristig

Alle Erträge im Leben stammen aus dem Zinseszins, nicht nur beim Geld. Dies gilt für Beziehungen, Wissen, Fähigkeiten und alles, was zählt. Die Gesellschaft trainiert uns auf schnelle Ergebnisse, aber echter Wohlstand entsteht durch langfristige Spiele mit langfristigen Partnern. Anstrengungslosigkeit ist ein Mythos. Man muss hart arbeiten, damit andere glauben, es sei einfach. Jede richtige Handlung, die man unternimmt, wird sich mit der Zeit auszahlen. Der Ruf, die Fähigkeiten, das spezifische Wissen und der Reichtum werden sich anhäufen, wenn man in die richtige Richtung geht. Man muss geduldig sein.

Superkraft

Spezifisches Wissen ist Wissen, für das man nicht ausgebildet werden kann. Wenn die Gesellschaft einen ausbilden kann, kann sie auch jemand anderen ausbilden und einen ersetzen. Spezifisches Wissen findet man, indem man seiner echten Neugier und Leidenschaft nachgeht und nicht dem, was gerade angesagt ist. Es ist oft technischer oder kreativer Natur und kann nicht einfach ausgelagert oder automatisiert werden. Es bedeutet das eigene Talent, die eigene Art zu denken, das eigene Urteilsvermögen und die eigene Superkraft. Es sind die Dinge, die sich für einen selbst wie ein Spiel anfühlen, für andere aber eine schwierige Aufgabe sind.

Die 1 Prozent

99 % der Bemühungen sind vergeblich. Aus der Perspektive der Zielerreichung sind die Bemühungen jedoch nie ganz vergeblich, da man daraus lernen kann. Aus der Perspektive der Erreichung eines bestimmten Ziels tragen die meisten Bemühungen nicht direkt zu diesem Ergebnis bei. Man sollte nachdenklich sein und erkennen, dass man in den meisten Dingen versucht, die eine Sache zu finden, die 1 %, auf die man sich voll und ganz konzentrieren kann, um Zinseszinsen zu erzielen, und Nein zu Dingen zu sagen, die einem nicht dienen. Man sollte eine Hypothese aufstellen, um zu testen, ob sie funktioniert oder nicht, und Daten sammeln. Auch wenn man scheitert, sollte man eine andere Hypothese aufstellen und den Test intelligenter wiederholen, bis man seinem Ziel näher kommt.

Nullsumme

Statusspiele sind Nullsummenspiele, während Vermögensbildung ein Positivsummenspiel ist. Es gibt zwei grundlegende Spiele im Leben: Statusspiele und Vermögensbildungsspiele. Statusspiele sind überall zu finden, nicht nur am Arbeitsplatz. Das Streben nach Jobtiteln, Macht und der Kauf von Luxusartikeln, nur um andere zu beeindrucken, sind Beispiele für Statusspiele. Sogar in den sozialen Medien spielen wir alle ein Statusspiel, dessen wir uns vielleicht nicht bewusst sind. Das Problem ist, dass Statusspiele Nullsummenspiele sind. Sie erzeugen Angst, Vergleiche und rauben die kreative Energie. Die Lösung ist, der Konkurrenz zu entkommen, indem man man selbst ist und sich auf die Werte konzentriert, die man einbringt.

Hebelwirkung

Vermögen erfordert Hebelwirkung. Hebelwirkung verwandelt das eigene Wissen und die eigenen Fähigkeiten in echten Reichtum. Selbst mit spezifischem Wissen ist man ohne Hebelwirkung immer durch die eigene Zeit und Energie begrenzt. Es gibt drei Arten von Hebelwirkung: Arbeit (Menschen, die für einen arbeiten), Kapital (Finanzierung zur Durchführung der eigenen Projekte) und Produkte mit niedrigen Grenzkosten der Replikation, insbesondere Code und Medien. Die letzten beiden sind eine erlaubnisfreie Hebelwirkung, da man niemandes Zustimmung benötigt, um sie zu nutzen. Man kann Software und Medien erstellen, die für einen arbeiten, während man schläft.

Glück erschaffen

Man bringt sich in eine Position, um Glück zu nutzen oder Glück anzuziehen, wenn niemand sonst die Möglichkeit für sich selbst schafft. Es gibt vier Arten von Glück, aber die mächtigste Art ist das Glück aus dem eigenen Charakter. Gelegenheiten kommen zu einem, weil man ist, wer man ist, nicht nur wegen dem, was man tut. Dies ist kein zufälliges Glück, sondern ein Glück, das man absichtlich durch seinen Charakter und den Aufbau von Wiederholungen erzeugt. Wenn jeder über Effizienz und KI-Automatisierung spricht, ist der Aufbau des eigenen Charakters, der eigenen Marke oder des eigenen Rufs der ultimative Hebel.

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0:00 99% of your efforts might be completely wasted, and this realization hit me so much When I was reading this book, The Almanack Of Naval Ravikant, during one of my most challenging times in my life, you know, that time I moved to new country starting from zero. So busy settling with my young kids and also losing my job. While I thought I have almost lost everything, and this book has taught me that most of what we do doesn't actually move the needle. I realize I have been doing it all wrong and Naval shows me hope that there is a completely different game that is worth playing. The wasted effort here is nothing negative. And it is also not what you think. And so in this video, I'm sharing the seven principles that I learned from

0:47 this book that had a significantly impact on my approach to life and wealth creation, and hopefully will change your perspective too. The first principles, you won't get rich renting out your time. You must own equity to gain financial freedom. Perhaps you might think, oh, this is what I already know. Not trading time for money. But the true power behind this statement is about shifting from consumption to ownership mindset. When we have a job, we think we own it, but in reality, we don't own anything. Even when you achieve the top rank in a company, you don't own it. You're still trading your time for money, but just at a higher rate. For most people, we get our salary. We then buy stuff we consume. We think we are generating wealth enjoying a good life.

1:35 But Naval says wealth is about owning assets that make money while you sleep, and people will now say, oh yes, I know that too. I'm gonna buy a property. No, these assets can also be content, business, investment, personal brand, IP, anything that would generate values without your constant inputs. You don't need to own a property making huge investment in order to start generating wealth. I'm not asking you to quit your day job, but ask yourself, what percentage of your income comes from your active work versus assets that you own? If it's mostly from active work, what are some small step you could start taking on the side to build or acquire something that generate values on its own?

2:21 And the next principle, all returns in life come from compound interest and not just with money. This apply to relationships, knowledge, skills, everything that matters. We are all being trained by society for quick results, and even now with AI, we are just so impatient to see results immediately. All those videos talking about how to get rich or become a millionaire overnight. How to earn lazy money, getting millions of subscribers in just a few months. But Naval says the real wealth results come from playing long-term games with long-term people. Effortless is a myth. You have to work really hard for others to believe it's so easy, and I believe you must have this kind of experience too. You want something so bad that you hope it would just work out at the end.

3:09 You put so much effort, but still, no, it sounds like true efforts doesn't pay you back. And this is what Naval mentions about compound interest because every right actions that you take will eventually compound over time. Your reputations, your skills, your specific knowledge, your wealth, everything will stack up if you are heading in the right directions. And you just need to be patient. For example, learning a high income skills might seems a lot of work today, but over five years? It is a great investment. So what you could start today that might not pay immediately, but would compound dramatically over time. Maybe it's learning AI skills. Changing fields or starting a side project, everyone must start from zero. Everyone needs to go through that stage, but you just have to give

3:58 them a long enough timescale. It never happen in a timescale you want or they want, but it does happen. The next principle specific knowledge is knowledge you cannot be trained for. If society can train you, it can train someone else and replace you. Naval has consistently mentioned specific knowledge throughout this book, and this is one of the most important piece he mentioned about building wealth. He says, specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now. And it is often technical or creative and cannot be easily outsourced or automated. And my understanding is it simply means your gifted talent, your unique way of thinking, your judgment and your superpower.

4:43 What are those things that feels like at play to you, but it's like a difficult task to others. Perhaps it's your unique art sense. Your sales skills, your coding or building skills, you have to self-reflect deeply and get this clarity through actions. No one can answer you this question. And it comes back to my other videos about the skills that make you irreplaceable in the AI Age. It's your thinking and judgment and it can't be taught. I cannot teach how I think and my judgment An excellent example is Steve Jobs. He's not just a technical person. He has aesthetic sense and attention to design. He has unique ability to connect technologies with humanities and arts, and this is something that can't be taught. The next principle, 99% of efforts are wasted.

5:32 When I first read this, my first impression was what? But then I realized what it really means is from a goal achieving perspective, efforts is never completely wasted in a learning sense. You can learn from anything that you do, from your job, from your study. However, from the perspective of achieving a specific goal, most of your efforts do not directly contribute to that outcome. You staying late to finish projects, responding to emails, crazily networking, but how many of these efforts actually translate into the final outcome that is meaningful to you? These efforts might not compound over time. And so what Naval says is to be thoughtful and realize in most things, relationships, work, and even learning.

6:19 You are actually trying to find that one thing, the 1% you can go all in to earn compound interest and to say no to things that don't serve you. Honestly, I just keep thinking about this again and again after reading this. And I found it actually echoing so well with the Physics of Progress framework from Tom Bilyeu. So every time you set a goal and then you set a hypothesis to test if it will work or not, and you collect data, even if you fail, and this time you build an other hypothesis and rerun the test more intelligently until you are getting closer to your goal. And this is exactly the 1% concept shared by Naval. Yes, it might seem that the effort are wasted if we're just talking about achieving goals, but through the actions we become wiser.

7:07 We understand ourself better. What is our unique talent, and that's why just being consistent, hardworking, doesn't guarantee you results. You have to work smart by keep finding the right direction, and that is the 1%. ******* The next principle status game are zero sum. Wealth creation is positive sum, and this really hits me when I first read about this. So Naval explained there are two fundamental games in life, status game and wealth creation games. And status game are everywhere, not just in the workplace. Chasing job titles, power, buying luxury items just to impress others. And even on social media, we are all playing the status game that we might not be aware of. Chasing likes, chasing views.

7:54 The problem is status game are zero sum. They create anxiety, comparison, and drain your creative energy. And he raised the perfect solution, escape the competition. And how you can do that is by being you, you immediately eliminate the competition by just focusing on the values that you're contributing. You're creating your own growth trajectory. So just ask yourself, how much of your anxiety come from comparing yourself to others rather than measuring your own progress? What would change if you focus entirely on your value creation instead of status? So these day I don't create videos just to get views. Of course I know certain topic will explode, but do I just want to keep doing that just to get views?

8:40 No, I don't want to play the status game. I really want to create content that inspire people to think more, and this mission has never changed. And the most powerful thing is True Freedom comes when you care more about your impact, your value than your position in any types of hierarchy. The next principle fortunes require leverage. Naval explained that leverage is what turns your knowledge and skills into true wealth, even with specific knowledge, but without leverage, you are always limited by your own time and energy. And there are three types of leverage according to Naval, Labor, people working for you. Capital funding to run your projects. And the last one is what we might have missed. Products with low marginal costs of replication.

9:26 Especially he mentioned codes and media. The last two are what they calls permissionless leverage because you don't need anyone's approval to use them. You can create software and media that works for you while you sleep. Like Nathan Berry building Kit with no outside investment, coding is his leverage. Ali Abdaal, one of my favorite YouTuber with over 6 million subscribers publishing his book, media is his leverage. What truly changed my perspective was understanding that in today's world with AI, there can be lots of leverage and anyone can assess these powerful form of leverage and start building wealth together with your specific knowledge. So think about how you could create something once that continue to deliver values repeatedly.

10:12 What skills, knowledge, or ideas that you could transform into code, content, media or products that work for you and become your leverage. The next principle, you create your own luck. You put yourself in a position to capitalize on luck or to attract luck when nobody else create the opportunity for themself. Naval explained there are four types of luck, but the most powerful kind is what they call "Luck from your unique character". Opportunities come to you because of who you are, not just what you do. And these are not random luck. It's a luck you intentionally create through your character and repetition building. And this just inspired me to think about the meaning of growth in AI age. When everyone is talking about efficiency, AI automation, building

11:01 your unique character, brand, or reputation is your ultimate leverage. AI might replace so many skills, but your personality, your perspective, and the trust that you build with others will make you stand out. And that also resonate with another post that I recently read from a Taiwanese author. So what he said is you don't have to try hard to be different from others. Just don't try to be the same as everyone else. Let your everyday actions, speech, behavior, reflect consistent beliefs and values, and that is enough. Eventually you productize yourself. You are the brand, and you attract opportunities for yourself. What unique skills, personality or perspective make you stand out from the crowd? This book didn't give me the blueprints or step-by-step of wealth creation,

11:48 but this is such a great book that changed so much how I see about building wealth and living a happy life, and you can have both together. This book is just full of wisdom and I highly recommend reading it yourself and also the whole podcast series about wealth creations from Naval. I'll put the link below. Perhaps you'll get some new inspirations from your own experience. No matter what situations you're facing now, most of them can be solved by changing your mindset. I hope you're doing great. I'll see you next time.

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