Skip to main content

The Principles for Success by Entrepreneur & Investor Ray Dalio: A 30-Minute Animated Primer

Investor and hedge fund manager Ray Dalio has a net worth of $18.4 billion. That alone would persuade a great many of us to listen to any and all advice he has to offer, but unlike many multi-billionaires, he's also put no small amount of thought into just what advice to give and how to give it. One reason is that the pieces of advice he doles out publicly began as pieces of advice for himself, discovered through trial and error and refined into a set of principles. These he lays out in his book Principles: Life and Work, the content of which he has also distilled into the animated video above, "Principles for Success by Ray Dalio."

Dalio breaks down his own journey to success as the continued repetition of a five-step process:

  1. Know your goals and run after them
  2. Encounter the problems that stand in the way of getting to your goals
  3. Diagnose these problems to get at their root causes
  4. Design a plan to eliminate the problems
  5. Execute those designs

This framework already sets Dalio apart from other successful advice-givers, some of whom offer nothing more than broad platitudes about believing in yourself and never giving up hope, and others of whom fall back on cynical cracks about doing unto others before they do unto you. Dalio, for his part, endorses a mindset he calls "hyperrealism," the adoption of which demands putting the truth before all else. And the hyperrealist first examines the truth about himself, assessing as objectively as possible his weaknesses as well as his strengths and regularly drawing upon the perspectives of those who disagree with him.

Underlying Dalio's ideas about hyperrealism and success is a mechanistic conception of humanity, the economy, the world, indeed all reality: "Everything is a machine," as he starkly puts it. By this, he doesn't mean we should think of ourselves as pre-programmed robots, but that we can approach all of our choices as puzzles to be figured out. "Most everything happens over and over again in slightly different ways," he says, but most of us, with our viewpoints biased toward recent history and our "ego and blind spot barriers" that keep us from seeing the full picture, mistakenly regard the situations in which we find ourselves as unique, thus making them into more difficult problems than they are.

Of course, even if we embrace hyperrealism and develop ever more reliable strategies to surmount the obstacles that crop up along our chosen paths, we'll fail as often as we succeed. Dalio tells of his own grand humbling in the early 1980s when he bet everything on a depression that never came, and explains how the fallout taught him that "truth is the essential foundation for producing good outcomes." Even if we have no interest in doing what it takes to make $18.4 billion, we might still bear in mind the two principle-driven equations that Dalio provides — "Dreams + reality + determination = a successful life" and "Pain + reflection = progress" — along with his conviction that success requires not just knowing the truth of world, but the truth of ourselves as well.

Related Content:

Economics 101: Hedge Fund Investor Ray Dalio Explains How the Economy Works in a 30-Minute Animated Video

Steve Jobs Shares a Secret for Success: Don’t Be Afraid to Ask for Help

Harvard Dean Lists the 5 Essential Questions to Ask In Life … Which Will Bring You Happiness & Success

Oprah Winfrey’s Harvard Commencement Speech: Failure is Just Part of Moving Through Life

Alain de Botton Proposes a Kinder, Gentler Philosophy of Success

Based in Seoul, Colin Marshall writes and broadcasts on cities, language, and culture. His projects include the book The Stateless City: a Walk through 21st-Century Los Angeles and the video series The City in Cinema. Follow him on Twitter at @colinmarshall, on Facebook, or on Instagram.

The Principles for Success by Entrepreneur & Investor Ray Dalio: A 30-Minute Animated Primer is a post from: Open Culture. Follow us on Facebook, Twitter, and Google Plus, or get our Daily Email. And don't miss our big collections of Free Online Courses, Free Online Movies, Free eBooks, Free Audio Books, Free Foreign Language Lessons, and MOOCs.



from Open Culture https://ift.tt/2LX6bo4
via Ilumina

Comments

Post a Comment

Popular posts from this blog

When Albert Einstein & Charlie Chaplin Met and Became Fast Famous Friends (1930)

Photo via Wikimedia Commons “You do not really understand something unless you can explain it to your grandmother,” goes a well-known quote attributed variously to Albert Einstein, Richard Feynman, and Ernest Rutherford. No matter who said it, “the sentiment… rings true,” writes Michelle Lavery , “for researchers in all disciplines from particle physics to ecopsychology.” As Feynman discovered during his many years of teaching , it could be “the motto of all professional communicators,” The Guardian ’s Russell Grossman writes , “and especially those who earn a living communicating the tricky business of science.” Einstein became one of the world’s great science communicators by choice, not necessity, and found ways to explain his complex theories to children and the elderly alike. But perhaps, if he’d had his way, he would rather have avoided words altogether, and preferred acrobatic feats of silent daring to get his message across. We might at least conclude so from his reverence f...
Post a Comment
Read more

A 10 Billion Pixel Scan of Vermeer’s Masterpiece Girl with a Pearl Earring: Explore It Online

We admire Johannes Vermeer’s  Girl with a Pearl Earring   for many reasons , not least that it looks exactly like a girl with a pearl earring. Or at least it does from a distance, as the master of light himself no doubt stepped back to confirm countless times during the painting process, at any moment of which he would have been more concerned with the brushstrokes constituting only a small part of the image. But even Vermeer himself could have perceived only so much detail of the painting that would become his masterpiece. https://www.youtube.com/watch?v=cKaZYTwmjwU Now, more than 350 years after its completion, we can get a closer view of Girl with a Pearl Earring  than anyone has before through a newly released  10 billion-pixel panorama . At this resolution, writes Petapixel’s Jason Schneider , we can “see the painting down to the level of 4.4-microns per pixel.” Undertaken by Emilien Leonhardt and Vincent Sabatier of 3D microscope maker Hirox Europe ...
Post a Comment
Read more

The History of the Fisheye Photo Album Cover

Like gothic script in heavy metal, the fisheye album cover photo seems like a naturally occurring feature of certain psychedelic strains of music. But it has a history, as does the fisheye photograph itself. The Vox video above begins in 1906 with Johns Hopkins scientist and inventor Robert Wood, a somewhat eccentric professor of optical physics who wanted to duplicate the way fish see the world: “the circular picture,” he wrote, “would contain everything within an angle of 180 degrees in every direction, i.e. a complete hemisphere.” Rather than putting them to underwater use, later scientists employed Wood’s ideas in astronomical observation. Their next stop was the professional photography market: the first mass-produced fisheye lens, made by Nikon, cost $27,000 in 1957. From academic journals to the pages of Life magazine: mass media brought fisheye photography into popular culture. An affordable, consumer-grade lens in 1962 brought it within the reach of the masses. For t...
Post a Comment
Read more