How to build a company where the best ideas win | Ray Dalio

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4.1 • 11.9K Ratings

🗓️ 6 September 2017

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

What if you knew what your coworkers really thought about you and what they were really like? Ray Dalio makes the business case for using radical transparency and algorithmic decision-making to create an idea meritocracy where people can speak up and say what they really think -- even calling out the boss is fair game. Learn more about how these strategies helped Dalio create one of the world's most successful hedge funds and how you might harness the power of data-driven group decision-making.

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Transcript

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0:00.0	This TED Talk features hedge fund share Ray Dalio, recorded live at TED 2017.
0:08.0	Whether you like it or not, radical transparency and algorithmic decision-making is coming at you fast, and it's going to change your life.
0:16.9	That's because it's now easy to take algorithms and embed them into computers
0:21.4	and gather all that data that you're leaving on yourself all over the place,
0:25.9	and know what you're like, and then direct the computers to interact with you in ways that are better than most people can.
0:33.5	Well, that might sound scary. I've been doing this for a long time, and I have found it to be wonderful.
0:39.5	My objective has been to have meaningful work
0:42.4	and meaningful relationships with the people I work with,
0:45.0	and I've learned that I couldn't have that
0:46.9	unless I had that radical transparency
0:49.1	and that algorithmic decision-making.
0:51.9	I want to show you why that is.
0:54.2	I want to show you how it works. And I warn you that some of the things that I I want to show you why that is. I want to show you how it works.
0:56.0	And I warn you that some of the things that I'm going to show you probably are a little bit
0:59.1	shocking.
1:01.2	Since I was a kid, I've had a terrible rote memory, and I didn't like following instructions.
1:07.9	I was no good at following instructions.
1:10.0	But I love to figure out how things work for myself.. I was no good at following instructions. But I love to
1:11.2	figure out how things worked for myself. When I was 12, I hated school, but I fell in love with
1:17.8	trading the markets. I caddied at the time, earned about $5 a bag, and I took my cadding money,
1:24.3	and I put it in the stock market. And that was just because the stock market was hot
1:29.2	at the time. And the first company I bought was a company by the name of Northeast Airlines.
	...

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