Sarah Fields

Summary: Ray Dalio's Principles

    b1334183349has quoted2 months ago
    How can I know I’m right?”
    Artur Martynenkohas quoted9 months ago
    Idea meritocracy is when radical truthfulness and transparency are enabled and instilled in a family, company, or community. An idea meritocracy is a safe place where the best ideas can win. In entrepreneurship, this is an essential key. The quicker a person can separate the wheat from the chaff and effectively execute only their best suggestions, the faster they can move forward.
    Artur Martynenkohas quoted9 months ago
    The first thing that should be done in order to get access to the best ideas, the environment must help these ideas to come out. For example, the leaders should give their employees a safe space to express their thoughts. Second, these ideas should be judged accurately. They should be chosen effectively to know which ones to implement.
    Julia Zaytsevahas quotedlast year
    radical transparency over politics and meritocracy over democracy. In his long-awaited book, he describes the systems that he has designed to shape meaningful work, meaningful relationships, and the world’s most successful hedge fund
    Julia Zaytsevahas quotedlast year
    Idea meritocracy is when radical truthfulness and transparency are enabled and instilled in a family, company, or community. An idea meritocracy is a safe place where the best ideas can win. In entrepreneurship, this is an essential key. The quicker a person can separate the wheat from the chaff and effectively execute only their best suggestions, the faster they can move forward.
    Julia Zaytsevahas quotedlast year
    Another lesson that Dalio shared is that the best companies are idea meritocracies.
    Julia Zaytsevahas quotedlast year
    In theory, most people know that these two ideas could help them and the people surrounding them if everyone would always live them. The reason why they don't is that it can often be emotionally difficult. This is why we fool ourselves into believing that it would be “nicer not to say anything.”
    Julia Zaytsevahas quotedlast year
    two of the most important principles are radical truthfulness and transparency.
    Julia Zaytsevahas quotedlast year
    the principles are the ultimate way of stress to test his opinions and that of his employees’. He would ask if they would hold up in the real world. Whenever he thinks he is right, he would ask himself: “How can I know I’m right?”
    Julia Zaytsevahas quotedlast year
    He even had to fire every one of the employees he worked with them. From this biggest failure, Dalio learned that it is not wise to be guided by emotions but by rational thinking.
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