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Naval

Play Long-term Games With Long-term People

Mar 19, 2019 · 6 min · Episode 10 · 6.9 MB
0:00-6:02

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Pick an industry where you can play long-term games with long-term people. All returns in life come from compound interest over many turns of the game.

• Play long-term games with long-term people 0:00

• When you switch industries, you're starting over from scratch 2:21

• Long-term players make each other rich 4:02

• Returns come from compound interest in iterated games 4:49

Transcript: http://nav.al/long-term