Ray Dalio ON: Principles for Making Better Decisions & How to Strengthen Relationships for Long-Term Success
Nov 14, 2022
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Ray Dalio, founder and co-chairman of Bridgewater Associates, discusses passing on principles, the value of journaling, better relationships through thoughtful disagreements, lessons from history, and the three main influences on society.
The importance of self-reflection and aligning emotions and intellect to make better decisions.
Understanding the cycles of conflict, wealth gaps, and global power dynamics to navigate challenges and create a harmonious society.
Cultivating a culture of healthy values, personal growth, and meaningful relationships to contribute to positive societal change.
Deep dives
Importance of self-reflection and aligning emotions and intellect
One key point discussed in the podcast is the importance of self-reflection and the alignment of emotions and intellect. By pausing to reflect on one's feelings and reflecting intellectually on whether those feelings are appropriate, one can make better decisions. This process of aligning emotions and intellect helps in gaining clarity and making more informed choices. Meditation and journaling were also mentioned as helpful tools in this self-reflective process.
The cycle of conflict, wealth gaps, and rising powers
Another significant topic explored in the podcast is the cycle of conflict, wealth gaps, and the rise of new global powers. The speaker highlights the challenges posed by increasing financial debt, internal conflicts caused by wealth gaps and win-at-all-cost mentalities, and the shifting dynamics of global power. These factors contribute to a heightened risk and tension in the world. Understanding these cycles and finding ways to navigate these challenges, such as fostering thoughtful disagreement and embracing compromise, are crucial in creating a harmonious and innovative society.
The importance of evolving well and contributing to evolution
The podcast emphasizes the significance of personal growth and contributing to societal evolution. The speaker encourages individuals to aspire to evolve well by knowing themselves, understanding their nature, and finding their path. Furthermore, the importance of engaging in meaningful work and cultivating meaningful relationships is highlighted. These elements are seen as essential for personal fulfillment and a sense of purpose.
Cultivating a culture of healthy values
A key theme discussed in the podcast is the importance of cultivating a culture of healthy values. The speaker emphasizes the need to strive for equal opportunity, meaningful work, and meaningful relationships. By creating a culture that fosters these values, individuals can contribute to positive societal change and reinforce the rewards inherent in such a culture. The importance of individual reflection, mentoring, and building strong middle-ground values are considered essential in this process.
The Importance of Self-Reflection and Purpose
One of the most important decisions we make is how we perceive ourselves and what our purpose is. Our passion, strength, and service contribute to our sense of purpose, making us happier and enabling us to make a positive impact on others. Understanding our inherent nature and wiring is crucial in finding our purpose and feeling a sense of individual and collective value.
Choosing Career and Financial Paths
Another significant decision is determining what we do for a living and how we make money. It is essential to strike a balance between following our passion and developing the necessary skills and strengths to excel in our chosen field. Building competence and being self-sufficient are key aspects of achieving success and happiness. Moreover, finding alignment between work and passion, while not neglecting the financial aspect, promotes fulfillment and long-term success.
Today, I am talking to a returning guest and good friend, Ray Dalio. Ray is the founder and co-chairman of Bridgewater Associates, which, over the last forty years, has become the largest and best performing hedge fund in the world. He is the author of #1 New York Times Bestseller and #1 Amazon Business Book of the Year, Principles. Dalio has appeared on the Time 100 list of the most influential people in the world as well as the Bloomberg Markets list of the 50 most influential people. He lives with his family in Connecticut.
Ray genuinely shares the deepness of thoughts and what is his views on passing on your principles to others and picking up theirs and learn from it, the unappreciated value of journaling, knowing the right approach to having better relationships through thoughtful disagreements, the lessons we can learn from history, and the three things that mainly influence us and our society. We also exchange thoughts on asking approval and validation from others, how we react to others out of our emotional state, and how we can be of service to the world.
This episode was filmed at Soho Works: 10 Jay Street.
What We Discuss:
00:00:00 Intro
00:03:00 The first time you fear meeting someone
00:04:17 How did you develop clarity?
00:08:13 The smartness of your move determines the outcome
00:10:55 When did you start journaling?
00:18:19 The arc of life
00:21:08 The three people you must have in your life
00:25:12 The biggest problem of our society
00:29:50 How to win the debate of life
00:32:20 Looking at the sequence of discovering the truth
00:38:03 Three big things that influence us
00:47:00 The typical cycle for a new system
00:49:16 It’s more human nature than the system
00:57:26 Producing a reaction that becomes instinctual
01:03:36 Four important decisions we make in life
01:10:25 How do you approach money?
01:14:27 Don’t worry so much about the approval of others
01:20:27 Three practices of successful relationships