The Blueprint — 10 Lessons From Principles: Life and Work by Ray Dalio
What makes this book a gold mine for me and like-minded people:
1. Understanding why a meritocratic environment works best for my personality has helped me shed imposter syndrome; mask off.
2. Ray defines a valid solution around a psychological dichotomy and process that stems to eliminate a ton of common misconceptions. Supportive ideologies around the power of numbers & group theory, associated with machine learning seem to be a great formula for creating an effective symbiotic ecosystem. If practiced by those who are open to change and constructive criticism.
3. The opening line made me want to get on plane to NYC, take a train over to CT, give Ray a high five, then head back to the concrete jungle to engage in shenanigans.
4. Machine learning (ai) can have a positive outcome as long as its used as supportive component for analytics and behavioral studies.
5. Ai, when done right, has the ability to yield some highly beneficial outcomes around structuring teams and making business decisions. At the same time, it can aid in studying your personal history, train of thought, and help predict what environments are good for personality.
6. It’s good to be open to constructive criticism.
7. Arguments should occur with the intention of arriving at new learnings, not to generate hatred or sense of detachment from the opposing party.
8. Some personalities just don’t work for the environment or culture that you are trying to creates. And in certain cases YOU actually create the high level of toxicity that destroys the environment that you are attempting to create.
9. The goal of learning is to grow and one day help another elevate themselves by sharing your learnings in an intuitive manner.
10. Mistakes should be embraced in the same we celebrate blessings. For in a lost or failure, we have an opportunity to learn and increase our aptitude around problem solving for that specific issue.
Bonus: never give up and let your humility serve as the honey that will capture the hearts and minds of your counterparts.
The concept of the "Idea Meritocracy" would improve everything bad about today's companies. If only 10% of his rules are implemented, it may fix mant of the problems today's companies face. Highly recommended listen!!! #GoodBuisinessBook #tagsgiving #sweepstakes
Two stars - meh
three stars - good
four stars - worth a second read
five stars - life-changing - my top 50 of all time
Worth a second read because the ideas at the core of the book seem contrary to what has been my life experience.
I'd love to spend a couple of days at Bridgewater or extensively interview some longtime employees to find out if it works as the author suggests.
My experience has been that 'Idea Meritocracies' and 'Radical honesty' work great for those at the top, who's positions cannot be threatened because they deem what is valued and right.
I've also always been told that attempting to fit market movements to algorithms cannot predict the really important swings. This is because we cannot properly summarize all of the market conditions that existed historically, nor can we know all of the factors that effect markets currently because our information is incomplete. I should be able to tell if his approach works by comparing Bridgewater's performance to that of its peers, but I have not yet done this.
The author does make a telling comment early in the book, regarding the computational nature of reality. He states that if we knew we had a perfect description of the current state of the universe, we'd be able to predict what would happen next. This is by no means an established fact. Chaos theory, quantum mechanics and and Heisenberg would probably disagree.
I cannot decide if the 'Baseball Card' approach to personnel makes sense. Baseball stats are more objective that job performance or personality types based on standardized tests.
I'd love to believe that keeping stats on everyone would help predict future performance, but as Sabermetrics showed, which stats one calculates and how they are weighted have significant impact on outcomes.
I'd love to believe that his basic assumptions are correct, but I'm really ambivalent. This book raised many more questions than it answered.
If I check the facts and they seem to hold water, I will make changes to my life and thus this would qualify as a five-star book.