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Naval on Smash Notes

Seek Wealth, Not Money or Status

Naval

The difference between wealth, money and status.    - Wealth is assets that earn while you sleep: 0:56 - Money is how we transfer wealth: 2:28 - Status is your rank in the social hierarchy: 3:08 Full show notes and transcript: https://startupboy.com/2019/02/28/seek-wealth This is the first interview between Naval and Nivi on How to Get Rich. See them all here: https://startupboy.com/category/wealth. These interviews are based on Naval's tweetstorm: https://twitter.com/naval/status/1002103360646823936.

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In this episode


Smash Notes summary for this episode

Why is social status a zero-sum game?

Status is your ranking in the social hierarchy, and unlike money, status is a zero-sum game. If you have an asset, like a house, you are not taking away from another person's ability to acquire a house. On the other hand, if someone's "status ranking" is #3, in order for them to move up, the #2 person has to move out of the way. Sports and politics are some examples of zero-sum games, where in order to have a winner, you have to have a loser.

Why should you avoid status games in your life?

In order to have a winner, a status game must have a loser. Playing status games makes you an angry combative person, and that's no way to live a happy and fulfilling life.



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