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Back to Ray Dalio, Principles, the Evolution of Bridgewater Associates & Meditation, with Ray Dalio.

What Does Ray Dalio Say Is the Key to an Idea Meritocracy?

On AskGaryVee, Ray Dalio says an idea meritocracy has three steps. First, put your honest thoughts on the table for everyone to see. He says most people skip that, and that bad things happen when they stay in the dark. Second, practice thoughtful disagreement: meet a clash with curiosity and the chance that you are wrong, not as a fight, so a group can decide better than one person. Third, agree on a protocol for when you still disagree. At Bridgewater he uses what he calls believability-weighted decision making. He also describes picking someone you both trust and asking that person to help you through the disagreement.

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Ray Dalio, Principles, the Evolution of Bridgewater Associates & Meditation ·

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More from this episode

  1. Why Does Ray Dalio Say Written Principles Beat One-off Decisions?Ray Dalio told Gary Vaynerchuk that he wrote down the criteria for every decision, and those notes became his principles.
  2. Who Does Ray Dalio Think Should Invent Your Principles?Ray Dalio told Gary Vaynerchuk that the Ten Commandments and the Bill of Rights are principles, but people are not walking around checking the list.
  3. When Does Ray Dalio Say a Person Actually Controls Their Mind?Ray Dalio told Gary Vaynerchuk that needing noise is evidence you do not control your mind.
  4. How Can You Become a Successful EntrepreneurYou have to bet against the consensus and to be right.
  5. Why Did Ray Dalio Start Writing Down His PrinciplesAfter a near catastrophic public failure early in his career, Ray Dalio realized he had to learn from his failures in order to avoid them in the future.

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