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Founders: #43 Ray Dalio: Principles: Life and Work

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What I learned from reading Principles: Life and Work by Ray Dalio --- Whatever success I've had in life has had more to do with my knowing how to deal with my not knowing than anything I know [0:01] Ray's first principle and why [5:35] Ray's key to success [8:07] The similarities between investors and entrepreneurs [9:27] Shift your mindset from I know I am right to How do I know I am right? [13:05] Systemize your decision making [14:09] Ray on his life story [17:30] the quality of your decisions determine the quality of your life [19:50] Like a lot of Founders, Ray was bad at school [21:45] More about his personality: stubborn and determined + his first jobs [22:45] Hungry for knowledge he could actually use [24:28] Terrible is better than mediocre [25:03] What we think to be true that is not: The future is a slightly modified version of the present [25:30] Steve Jobs [26:30] A pivotal lesson for Ray: The same things happen over and over again [28:02] the founding of Bridgewater [32:33] the humble beginning of Bridgewater [35:15] If you know your business A to Z there is no problem you can't solve – Sam Zemurray [36:06] Watching the richest man in the world go broke [38:00] Ray l

[00:00:00] Before I begin telling you what I think, I want to establish that I'm a dumb shit who doesn't know much relative to what I need to know. Whatever success I've had in my life has more to do with my knowing how to deal with my not knowing than anything I know. The most important thing I learned is an approach to life based on principles that helps me find out what's true and what to do about it. Principles are fundamental truths that serve as the foundations for behavior that get you what you want out of life. They can be applied again and again in similar situations to help you…

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