Principles - a podcast by You Exec

How did Ray Dalio, the child of an ordinary medium-class family create the
world’s largest, and most successful hedge fund, currently managing over
$150 billion USD? In a word: principles. Ray Dalio created a set of
principles for personal and professional life that serves as an operating
system for living based on radical honesty and radical transparency
thriving within an idea meritocracy. An idea meritocracy is "a system that
brings together smart, independent thinkers and has them productively
disagree to come up with the best possible collective thinking and resolve
their disagreements in a believability-weighted way." To
"believability-weight" something means to determine an idea's legitimacy
based on the track record and the ability of the idea's originator to
clearly explain their concept. Dalio believes an idea meritocracy is the
best decision-making system because it requires honesty and leads to
continual improvement. Dalio divided his principles into Life Principles
and Work Principles. The life principles apply to individual success, and
the work principles guide group success. Dalio decided to share his
principles to help others succeed. His goal is to inspire people to
discover and write their principles and to refine them through experience
and reflection. Dalio believes good, experience-tested principles can lead
people to better decisions, more mutual understanding, and superior
outcomes

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