Naval Podcast: Seek Wealth, Not Money or Status

Full podcast here.

  • What’s the difference between wealth, money, and status? Wealth is assets that earn while you sleep.

  • The reason you want wealth is because it buys you your freedom. So you don’t have to waste away your entire life grinding at a soulless job that doesn’t fulfill you.

  • The purpose of wealth is freedom. It’s nothing more than that. It’s really just so that you are your own sovereign individual. You’re not gonna get that unless you really want it.

  • There are fundamentally two games in life that people play. (1) The money game. (2) The status game. 

  • Wealth is a positive-sum game.

  • Status is a zero-sum game. It’s a very old game. 

  • Politics is an example of a status game. Sport is an example of a status game. To be the winner, there must be a loser. 

  • Avoid status games because they make you into an angry combative person. You’re always fighting to put other people down.