5min chapter

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#251 – Ray Dalio: Money, Power, and the Collapse of Empires

Lex Fridman Podcast

CHAPTER

How to Deal With the Future Effectively

I have a principle which is pain plus reflection equals progress. There's a five step process. Step one is know your goals. Know what you're going after. On the way to your goals you're going to encounter your problems and your obstacles. To be able to work well together is the most effective way of achieving success. You could have almost anything you want but you can't have everything you want. And so you have to prioritize and you move in that direction.

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