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
While it's best to have great conceptual thinkers, understand that great experience and a great track record also count for a lot.
There are all sorts of jobs and they require all types of people to handle them. I am frequently biased toward finding the entrepreneur type--a clever, open-minded scrapper who will find the best solution--and I have often been disappointed. On the other hand, sometimes I have found a master craftsman who has devoted decades to his specialty who I could completely rely on. What keeps coming to my mind is Malcolm Gladwell's rule that it takes ten thousand hours of doing something to build expertise--and the value of looking at batting averages to judge how well a person can hit. One way you can tell how well a talented rookie will do relative to a proven star is to get them into a debate with each other and see how well they each hold up.
Work Principle
- Hire Right, Because the Penalties for Hiring Wrong Are Huge
- Pay attention to people's track records.
- While it's best to have great conceptual thinkers, understand that great experience and a great track record also count for a lot.
- Pay attention to people's track records.
Any person or organization can adopt Principles to better achieve their goals.
Learn what Principles are and how they are applied at Principles.com
