Principles are ways of successfully dealing with reality to get what you want out of life.
Ray Dalio, one of the world’s most successful investors and entrepreneurs, cites principles as his key to success.
In 1975, Ray Dalio founded Bridgewater Associates, out of his two-bedroom apartment in New York City. Over forty years later, Bridgewater has grown into the largest hedge fund in the world and the fifth most important private company in the United States (according to Fortune magazine), and Dalio himself has been named to TIME’s list of the 100 most influential people in the world. Along the way Dalio discovered unique principles that have led to his and Bridgewater’s unique success. It is these principles, and not anything special about Dalio, that he believes are the reason behind whatever success he has had. He is now at a stage in his life that he wants to pass these principles along to others for them to judge for themselves and to do whatever they want with them.
Work Principle
Make sure that no one is more powerful than the system or so important that they are irreplaceable.
For an idea meritocracy, it is especially important that its governance system is more powerful than any individual--and that it directs and constrains its leaders rather than the other way around. The Chinese leader Wang Qishan drew my attention to what happened in ancient Rome when Julius Caesar revolted against the government, defeated his fellow general Pompey, seized control of the Republic from the Senate, and named himself emperor for life. Even after he was assassinated and governance by the Senate was restored, Rome would never again be what it was; the era of civil strife that followed was more damaging than any foreign war.
Work Principle
- And for Heaven's Sake, Don't Overlook Governance!
- To be successful, all organizations must have checks and balances.
- Make sure that no one is more powerful than the system or so important that they are irreplaceable.
- To be successful, all organizations must have checks and balances.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
