#23 Ray Dalio: Life Lessons from a Self-Made Billionaire

The Knowledge Project

Shane Parrish

Society & Culture, Technology, Business

4.7 • 3K Ratings

🗓️ 11 October 2017

⏱️ 91 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you in love with your own ideas regardless of how good they are Would you like to make better decisions and fewer mistakes? Would you like to improve the most important relationships in your life? These are just some of the topics I discuss with my guest, Ray Dalio. Ray Dalio is the founder of the world’s largest hedge fund, Bridgewater Associates, and is the author of the new book Principles: Life and Work. He is also a leading figure in the world of philanthropy, is an avid supporter of transcendental meditation, and has appeared on Time magazine’s list of the 100 most influential people in the world. Ray gave me over an hour and a half of his time, and I didn’t waste a minute of it. Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/ Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ Follow Shane on Twitter at: https://twitter.com/ShaneAParrish Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Knowledge Project. I'm your host Shane Parrish, the curator behind the
0:12.1	Farnham Street blog, which is an online community focused on mastering the best of what other
0:16.5	people have already figured out. The Knowledge Project is a place where we look at interesting
0:21.1	people, ideas, and uncover frameworks to make better decisions, live life, and understand
0:26.8	reality. On this episode, I have Ray Dalio, Ray is the founder, chair, and co-chief investment
0:32.9	officer of Bridgewater Associates. Bridgewater started out of a two-bedroom apartment in New York
0:38.7	in 1975 and has grown into the largest hedge fund in the world and one of the most important
0:44.1	private companies in the United States. As you'll hear from this conversation, this was
0:48.5	no fluke. We talk about why Ray punched his boss in the face, his principles for living
0:54.0	in work, the nuances of Bridgewater's culture, technology, why so few people deal with reality,
1:01.0	mental models, how to build an idea, meritocracy, and how to make better decisions, and there's
1:06.2	so much more. Intellectually, Ray's answers will cause you to question why things aren't
1:11.4	more like this. They might just change the way you live. I hope you enjoy this conversation
1:15.6	as much as I did.
1:18.4	Before I get started, here's a quick word from our sponsor.
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