EHF Fellow: Naval Ravikant
One of the great thinkers in the startup world
If you haven’t heard of Naval Ravikant, you might recognise him by one of his many “Navalisms”. The investor and serial entrepreneur has a knack for orchestrating phrases of wisdom that are short but powerful.
“A fit body, a calm mind, a house full of love. These things cannot be bought — they must be earned.”
— Naval Ravikant
Naval moved from India to the United States when he was nine years old and was raised in New York by his mother. She worked hard to provide for him as he was growing up, and set an example for him to stand strong in the face of adversity, which he would face plenty of in the years that followed.
“Desire is a contract that you make with yourself to be unhappy until you get what you want.”
— Naval Ravikant
After graduating from Dartmouth College with degrees in computer science and economics, Naval floated through several 9–5 jobs before setting out to build his own venture.
He moved to Silicon Valley and co-founded a website called epinions.com which was a consumer-review site that was eventually bought and rebranded as shopping.com. All seemed well until Naval learned that his co-founder had cheated him out of a large sum of money. The ensuing court case was a very trying time, and although Naval eventually won, his reputation had taken a hit.
Many potential business partners were keeping their distance, but Naval forged ahead regardless. He began investing in a variety of start-ups and proved to be very good at picking the right companies to bet on. To date, Naval has been a key investor in Uber, Twitter, FourSquare, Postmates, Thumbtack as well as many other mega-successful ventures.
He learned a lot from his experiences and decided to create a platform where he could share that knowledge with novice entrepreneurs. The result was Venture Hacks, an online blog-like platform full of tips and tricks for getting businesses off the ground.
It was in this time that Naval perfected his ability to explain concepts in a clear and concise way — a talent that made Venture Hacks wildly popular amongst young entrepreneurs.
“Who you do business with is just as important as what you choose to do.”
— Naval Ravikant
By 2010, Naval began to see that there was a need for a way to connect angel investors with promising startups. So he and his Venture Hacks business partner, Babak Navi, created a website called AngelList, which gave investors and entrepreneurs the opportunity to interact on a professional platform.
In order for it to operate within its highest potential, though, Naval had to convince the US government to pass a new law that made it easier for small businesses to raise money through crowdfunding. The JOBS (Jumpstart Our Business Startups) Act was signed into law by President Obama in 2012 with bipartisan support.
This act was instrumental in the huge success of AngelList in the coming years, but it also enabled many more businesses and startups to find funding in new ways.
One of the traps that successful people can fall into is the temptation to stop learning but Naval challenges himself to be always looking ahead to the next, new venture — even when it would be more comfortable to stick to what he knows.
“Success is the enemy of learning. It can deprive you of the time and the incentive to start over. Beginner’s mind also needs beginner’s time.”
— Naval Ravikant
Right now, Naval is very excited about the potential of blockchain and decentralised technology. He believes it is a great space to start investing in, but he’s also excited about what it could mean for humanity’s future.
“Bitcoin is a tool for freeing humanity from oligarchs and tyrants, dressed up as a get-rich-quick scheme.”
— Naval Ravikant
And it’s this optimistic contrarianism and concern for human well-being that has amassed Naval a great number of fans and followers.
People trust his insights and look to him for advice on how to live balanced, productive lives. He has become a regular interviewee on business podcasts, web series and in investment articles, causing many to label him one of the “great thinkers of our time”.
“The most important trick to be happy is to realize that happiness is a choice that you make and a skill that you develop. You choose to be happy, and then you work at it. It’s just like building muscles.”
— Naval Ravikant
Naval recently spoke at the New Frontiers Summit in March where he has expressed his admiration for New Zealand’s beauty and potential for entrepreneurship.
We are delighted to welcome him as a member of cohort 4 of the Edmund Hillary Fellowship and look forward to hearing many more “Navalisms” in the coming months.
Are you a visionary entrepreneur, investor, or changemaker building solutions to global challenges? You can bring your vision to reality from New Zealand by joining the Edmund Hillary Fellowship. Apply here.
