LEARN, EARN or QUIT | My job/career advice for 2022

Summary

The video discusses the importance of learning versus earning, advising viewers to focus on acquiring skills and knowledge first. It argues learning allows one to enter a state of flow doing what they enjoy, while earning through equity ownership enables creation of true wealth. The host warns against meaningless high-paying jobs, quoting philosophers on finding pleasure through discipline, not money. He advocates learning then earning as the best path, starting your own company or working at a fast-growing startup. The video urges viewers to constantly skill-build, create valuable products, and invest time pursuing fulfillment, not material goods.

Takeaways

• 😀 Learn new skills constantly - focus on learning as early and as intensely as possible
• 😁 Identify what you enjoy doing and become exceptionally skilled at it through deliberate practice
• 😂 Build products or create impressive portfolios to showcase your capabilities
• 😄 Consider equity over high cash compensation for the potential to create extraordinary wealth
• 🤩 Founders have the advantage to learn while earning as their company grows
• 😊 Quit unfulfilling jobs that offer little learning or earning potential
• 😇 Establish mastery over a skill to the 10,000 hours level before attempting to monetize your expertise
• 🤓 Marketing helps identify problems and positioning solutions, sales gets customers
• 😎 Solving real-world problems through building products trumps waiting for the perfect idea
• 😏 Prepare constantly because an entrepreneurial journey is unpredictable

Q & A

What are the two main things Naval recommends focusing on early in your career?

Naval recommends focusing on learning and earning early in your career. He says to focus first on learning about yourself, acquiring skills, and creating things to build real expertise. Then you can shift to earning through equity, high salaries, etc.

What does Naval say is the best way to truly earn money?

Naval says the best way to earn money is through equity - by owning stock in a company you help create that becomes very valuable. He calls this the highest form of earning because you are creating true wealth.

What does Naval suggest if you want to learn marketing skills?

Naval suggests finding a product or service you like and making concrete suggestions or improvements to their website, design, messaging, etc. Then reach out directly via cold email to offer your help or share what you've done.

What does Naval say is more impressive than credentials when applying for jobs?

Naval says when applying for jobs, having an impressive product, website, or code repository you created yourself is more impressive than credentials from top universities. Demonstrating real world creation and skills stands out.

What is the hedonic treadmill and why does Naval warn against it?

The hedonic treadmill is the cycle of spending more money to buy nicer things, then having to spend more to maintain that lifestyle. Naval warns it can prevent you from investing time and money into creating startups and true wealth.

What does Naval call meaningless high paying jobs?

"Bullshit jobs" - jobs that seem unnecessary but politically or bureaucratically persist. He warns against wasting time in these unfulfilling jobs.

What order does Naval recommend - learn then earn, or vice versa?

Naval strongly recommends learning first and then earning. He says if you try to earn first, you may still learn but more slowly and at a greater cost. Prioritizing learning sets you up for greater earning potential later.

What does Naval say is a sign you should quit a job?

If you aren't learning, don't have a way to earn equity, aren't being paid well, and aren't finding the work fulfilling or meaningful, he says you should quit and find a better opportunity.

What preparations does Tim Cook highlight from Abraham Lincoln when discussing his journey to Apple CEO?

Tim Cook highlights Lincoln's quote that "the only thing I can do is prepare" - the journey may not be predictable, but you can and should constantly prepare along the way.

What does Naval say indicates you have become an expert at something?

Naval cites the 10,000 hour rule - if you practice one skill for 10,000 hours, you likely have become a true expert at it. But he notes you have to choose this path and stick to it.