Reports from former employees have suggested a workplace rife with accusations, confrontations, and interrogations. Dalio even has employees use an app in which they rate each other constantly in real time, with the data compiled into individual profiles called “baseball cards” displaying the employees’ weaknesses and strengths as determined by their peers.Īt Bridgewater, the culture of radical self-criticsm has produced an environment that has been likened to both a “cult” and a “social experiment” (though the latter is more accurate than the former). And accountability means that employees are given intense scrutiny on their personal faults. (“Pain + Reflection = Progress,” Dalio writes.) Transparency means that employees’ interactions and phone calls are taped and listened to by others in the company.
For Dalio, honesty means employees are encouraged to tell coworkers exactly what they think of them, even if it might be deeply hurtful. Dalio’s “principles,” of which there are well over 100, emphasize strict rationality, which Dalio believes necessitates radical honesty, transparency, and accountability. The company operates according to a strict set of rules promulgated by Dalio that aims to eliminate emotion and ego from corporate decision-making. Bridgewater is known in the financial industry for two things: its extremely high levels of investment success and its extremely unusual corporate culture. He is the founder and chairman of Bridgewater Associates, the world’s largest hedge fund. Ray Dalio is one of the richest and most influential men in the world. One good way of checking is to ask yourself the following question: “Do the things I say sound like things a Bond villain might say?” If the answer is “yes,” you should probably rethink your life. Yet if you are surrounded all day by people who praise your genius and defer to your authority, you may have a hard time realizing when you have slipped into grandiosity and megalomania. Wealth is power, and power is dangerous, because people tend to go mad with it. One of the hazards of becoming extremely wealthy is that you can be fooled into thinking that you are also extremely wise.
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