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
Find the most believable people possible who disagree with you and try to understand their reasoning.
Having open-minded conversations with believable people who disagree with you is the quickest way to get an education and to increase your probability of being right.
Work Principle
- Believability Weight Your Decision Making
Find the most believable people possible who disagree with you and try to understand their reasoning.
- Think about people's believability in order to assess the likelihood that their opinions are good.
- Remember that believable opinions are most likely to come from people 1) who have successfully accomplished the thing in question at least three times, and 2) who have great explanations of the cause-effect relationships that lead them to their conclusions.
- If someone hasn't done something but has a theory that seems logical and can be stress-tested, then by all means test it.
- Don't pay as much attention to people's conclusions as to the reasoning that led them to their conclusions.
- Inexperienced people can have great ideas too, sometimes far better ones than more experienced people.
- Everyone should be up-front in expressing how confident they are in their thoughts.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
