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Ray Dalio

@RayDalio

Apr 18

The line is what's fair, appropriate, or required, as distinct from what's generous, in light of the defined quid pro quo relationship between parties. (1/5)

As mentioned earlier, you should expect people to behave in a manner consistent with how people in high-quality, long-term relationships behave--with a high level of mutual consideration for each other's interests and a clear understanding of who is responsible for what. (2/5)

Each should operate on the far side of fair, by which I mean giving more consideration to others than you demand for yourself. (3/5)

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Ray Dalio

@RayDalio

Apr 15

This is a requirement.

Being considerate means allowing other people to mostly do what they want, so long as it is consistent with our principles, policies, and the law. It also means being willing to put others ahead of your own desires. (1/6)

If the people on both sides of an argument approach their disagreements in this way, we will have many fewer disputes about who is offending whom.

Still, judgments will have to be made and lines will have to be drawn and set down in policies. (2/6)

This is the overarching guideline: It is more inconsiderate to prevent people from exercising their rights because you are offended by them than it is for them to do whatever it is that offends you. (3/6)

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Ray Dalio

@RayDalio

Apr 14

One of the great joys for me at this stage of my life is passing along what I learned that has helped me. Right now I believe that the most important thing I can pass along is an understanding of how the world order is changing & some principles for dealing with that well. (1/5)

To do that I put out a book and a free animated video, both titled Principles for Dealing with the Changing World Order. They show the changes in the context of the last 500 years of history. Many people have found them very valuable. (2/5)

The book has been a New York Times ongoing bestseller since its publication four months ago and the animated video has 10 million views on YouTube since it was released six weeks ago. (3/5)

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Ray Dalio

@RayDalio

Apr 12

Understanding what is true is essential for success, and being radically transparent about everything, including mistakes and weaknesses, helps create the understanding that leads to improvements. (1/9)

That’s not just a theory; we have put this into practice at Bridgewater for over forty years, so we know how it works. But like most things in life, being radically truthful and transparent has cons as well as pros, which I will describe as accurately as possible.(2/9)

Being radically truthful and transparent with your colleagues and expecting your colleagues to be the same with you ensures that important issues are apparent instead of hidden. (3/9)

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Ray Dalio

@RayDalio

Apr 8

While it pays to be open-minded, you also have to be discerning. Remember that the quality of the life you get will depend largely on the quality of the decisions that you make as you pursue your goals. 1/4

The best way to make great decisions is to know how to triangulate with other, more knowledgeable people. So be discerning about whom you triangulate with and skilled in the way you do it. 2/4

The dilemma you face is trying to understand as accurately as you can what's true in order to make decisions effectively while realizing many of the opinions you will hear won't be worth much, including your own. 3/4

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Ray Dalio

@RayDalio

Apr 6

But “stupid” wars still happen all the time for reasons that I will explain. It is far too easy to slip into stupid wars because of a) the prisoner’s dilemma, b) a tit-for-tat escalation process, c) the perceived costs of backing down for the declining power, (1/4)

and d) misunderstandings existing when decision making has to be fast. Rival great powers typically find themselves in the prisoner’s dilemma; they need to have ways of assuring the other that they won’t try to kill them lest the other tries to kill them first. (2/4)

Tit-for-tat escalations are dangerous in that they require each side to escalate or lose what the enemy captured in the last move; it is like a game of chicken—push it too far and there is a head-on crash. (3/4)

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