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Ray Dalio

Founder, Bridgewater

“Live by principles. Radical truth and transparency, where pain plus reflection equals progress.”

Image: Wikimedia Commons, Web Summit 2018 - Forum - Day 2, November 7 HM1 7481 (44858045925).jpg

The one idea

Pain plus reflection equals progress.

Ideas in the Tracker

Pain + reflection = progress

Face reality first. Failure is only wasted when you refuse to look at it clearly.

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Psychological safety

The best teams report more mistakes, not fewer, because people are safe enough to tell the truth early.

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Linked episodes

Ep. 17 · 24 min

Slightly Less Wrong

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Illustrated by these cases

Patagonia

A clear, costly signal of values is the most durable moat of all: it cannot be copied cheaply.

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Continue exploring the tribe

Wisdom

Charlie Munger

Vice Chairman, Berkshire Hathaway

“Assemble a latticework of mental models.”

The one idea→

Wisdom

Carol Dweck

Psychologist, Stanford

“Ability is built, not fixed.”

The one idea→

Wealth

Naval Ravikant

Founder, AngelList

“Build specific knowledge and leverage.”

The one idea→

Wealth

Steve Jobs

Co-founder, Apple

“Focus means saying no.”

The one idea→

Wealth

Warren Buffett

CEO, Berkshire Hathaway

“Stay inside your circle of competence.”

The one idea→

Wealth

Jeff Bezos

Founder, Amazon

“Minimize regret; it is always Day 1.”

The one idea→