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In this episode, Naval Ravikant breaks down his framework for building wealth without relying on luck. He argues that true wealth comes from owning equity—a piece of a business—rather than trading time for money. The core insight is that specific knowledge, combined with leverage, creates outsized returns. Specific knowledge is the unique expertise you develop by following your genuine curiosity, not what's trendy. This knowledge cannot be taught in schools; it must be learned through experience. Naval emphasizes that the internet has fundamentally changed the game by providing permissionless leverage through code and media. Anyone can now reach millions of people without needing permission from gatekeepers.