Principles
Life and Work
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Narrated by:
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Ray Dalio
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Jeremy Bobb
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Written by:
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Ray Dalio
About this listen
In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success.
In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve.
Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press.
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Editorial Review
If you’ve been looking for a guide to career, business, or financial success, or if you’re struggling with making decisions and facing challenges, Ray Dalio has the Principles to help you. Principles is the perfect audiobook for anyone looking to kick-start their career or launch a business endeavour. In this how-to guide, as the title suggests, Ray Dalio shares his principles for effective management, investment success, and a rewarding life. Learn unconventional lessons from the author, a billionaire hedge fund manager, entrepreneur, and philanthropist, and start your journey to becoming your most successful self. Beyond laying out his trusted principles, Dalio explains how to follow them in such a way that greatness is inevitable. For these golden rules of greatness, Dalio pulls from his own outstanding success in corporate management, investing, building strong teams, and making a difference in others’ lives. His practical lessons are grounded in his commitment to “radical” truth and transparency in all dealings. Narrating his own Principles, the author brings a level of expertise and influence to the work that is undeniable and compelling. Principles: Life & Work is a New York Times best seller, and has garnered widespread praise for its unique but poignant steps to success. His take on corporate culture and interpersonal management focuses on straight-shooting factual feedback which aims to build and empower employees towards success. At times unconventional, Dalio’s Principle is a must-listen for high-achievers in the corporate world and beyond.
probably the best book ever written.
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Believability-weighting. An idea meritocracy that strives for meaningful work and meaningful relationships through radical truth and radical transparency.
Our company created a culture using this thesis.
Invest time into your business partners; it's a non-renewable resource.
Money builds the machine but doesn't work to maintain it. People and technology drive their own ambitions and desires. Control the system or of your time in the future.
Building Principles & Processes
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Could have been 5/5, but not everyone will like Ray Dalio as much as I do. Has a lot of market & biographical information.
Long intro, good body
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So much great content, I need to re-listen.
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Insight in a great mind
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