Authors: Ray Dalio,Jeremy Bobb
Ray Dalio started as a boy from a middle-class family in Long Island and went on to become one of the 100 most influential people of the Time magazine. He believes everything in life, from management to economics, follows principles than can be learned and mastered. In Principles, he teaches you the art of innovation, team-building and effective decision-making.
Video Review of Principles: Life and Work by Ray Dalio,Jeremy Bobb
Quotes from Principles: Life and Work by Ray Dalio
If you’re not failing, you’re not pushing your limits, and if you’re not pushing your limits, you’re not maximizing your potential.
Unattainable goals appeal to heroes.
I saw that to do exceptionally well you have to push your limits and that, if you push your limits, you will crash and it will hurt a lot. You will think you have failed—but that won’t be true unless you give up.
Appreciate the basics
Having the basics—a good bed to sleep in, good relationships, good food, and good sex—is most important, and those things don’t get much better when you have a lot of money or much worse when you have less. And the people one meets at the top aren’t necessarily more special than those one meets at the bottom or in between.
Source of Advice
Listening to uninformed people is worse than having no answers at all.
Failure & Uncertainty
Imagine that in order to have a great life you have to cross a dangerous jungle. You can stay safe where you are and have an ordinary life, or you can risk crossing the jungle to have a terrific life. How would you approach that choice? Take a moment to think about it because it is the sort of choice that, in one form or another, we all have to make.
Time is like a river that carries us forward into encounters with reality that require us to make decisions. We can’t stop our movement down this river and we can’t avoid those encounters. We can only approach them in the best possible way.
High Quality Team
My approach was to hire, train, test, and then fire or promote quickly, so that we could rapidly identify the excellent hires and get rid of the ordinary ones, repeating the process again and again until the percentage of those who were truly great was high enough to meet our needsRay Dalio – Author, Billionaire Investor – Principles: Life and Work
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