#23 Ray Dalio: Life Lessons from a Self-Made Billionaire
The Knowledge Project with Shane Parrish
00:00
Meritocratic Decision Making and Believability Weighted Voting
The autocratic decision maker makes decisions without others' input, leading to lack of ownership and potential arrogance. Democratic decision making, where everyone has the same vote, is not sensible as people have different merits. Meritocratic decision making involves identifying the merit of each person's thinking in a fair way. This is achieved through believability weighted voting, where individuals with higher believability scores have more influence in decision making. The environment with believability scores may require people to adjust to the idea that the best decision isn't necessarily the one they are attached to, promoting a learner mindset.
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