Ray Dalio’s reflections with focus on his core principles and his management approach called idea meritocracy.
- Principle as a tool to handle reality. Ray tries to understand what are the principles that guide great minds. I like how he defines the term principle.
- Embracing an error friendly culture. Making a mistake is not considered a problem, but failure to disclose it, reflect on it and learn from it is. This idea makes some much sense, but is so often ignored. Probably one of the reasons why Bridgewater is so successful.
- As a computer scientist I like the idea, that he’s trying to use computers to do practically all the decision making. He is confident that he will succeed in doing so, however this assumes that human decision making can be sufficiently described with the formalisms available today (language, math).
- Progress = pain + reflection.
Personal rating: 7/10