Wednesday, November 21, 2018

notes: Principles by Ray Dalio

*first half of personal story went fast, the second half of principles and lists was a hard slog.


  • ref. Campbell's Hero's Journey -- "returning the boon" -- Once the boon is returned, the hero is free to live and then free to die. 
  • Lessons of History, 104pg W. Durant and River Out of Eden, R. Dawkins about evolution

  • Life Principles -- Radical open-mindedness, requires you to replace your attachment to always being right with the joy of learning what's true.
  • Self-interest or collective interest ... which of these forces wins out is a function of the organization's culture
  • amygdala hijacking -- emotional 
  • 18 months for behavior to stick /
  •  Power of Habit, by Charles Duhigg

  • Radical truth and radical transparency fundamental to having a real idea meritocracy
  • integrity - whole, one way inside and out. 
  • i choose to live out my values around excellence, meaningful work and meaningful relationships
  • expect people to behave in a manner that is consistent with how people in high-quality, long-term relationships behave -- high level of mutual consideration for each other's interests and clear understanding of who is responsible for what.
  • Fairness v Generousity -- don't make mistake of thinking act of generosity for some is same as entitlement for all.
  • Generosity is good and entitlement is bad / 
  • Be on the far side of fair -- more consideration to others than you demand for yourself. Each party says you deserve more. 

  • Okay to make mistakes / unacceptable not to learn from them. Pain is a message that something is wrong. 
  • If you don't mind being wrong on the way to being right you'll learn a lot and increase your effectiveness. 
  • You must not let your need to be right be more important than your need to find out what's true. 
  • Pain + Reflection = Progress
  • Thoughtful disagreement is not a battle; its goal is not to convince the other party that they are wrong and you are right, but to find out what is true and what to do about it. 
  • Most people have problems being assertive and open-minded at the same time. 
Getting in sync -- start by assuming you're either not communicating or listening well instead of blaming the other party. 
  • Their bad behavior doesn't justify yours.
Believe opinions
  • more likely come from people who have successfully done it three times / and can explain cause-effect relationships that led them to their conclusions
  • Think about whether you're playing role of Teacher, Student or Peer
People
  • need people with excellent character and excellent capabilities
  • assess people based on both their reasoning and their outcomes
  • people's performance: learning and ability
Every case
  • moving closer goal? and to train and test your machine (people and design)
as Manager
  • perceive and not tolerate problems
  • "Taste the Soup"
to Diagnose Problems - all outcomes come from people and designs
  • is outcome good or bad?
  • if bad, is Resp. Person incapable or Design bad?
  • How should have machine worked? 
  • keep asking why?
  • Goal - get at the best answers, not to make most people happy

Goals
  • focused on goals you're excited about