[Self Dev] Principles - Ray Dalio Flashcards
Principles - Ray Dalio
What do you need for a great life?
D-IT-OM-C-H
Dreams +
Independent-thinker +
Open-minded +
Courage +
Humility
Principles - Ray Dalio
Explain the relationship between a problem and a principle in the context of improving decision-making.
A problem provides a principle. With this principle, similar problems can be solved, leading to improved decision-making.
Principles - Ray Dalio
Why is understanding reality (truth) important?
Understanding reality leads to
- Better outcomes,
- Helps in choosing dreams wisely,
- Enables the improvement of decision-making.
Principles - Ray Dalio
How does being radically open-minded enhance the efficiency of feedback loops?
Radical open-mindedness accelerates the learning process
…by the understanding of reality through real-time feedback loops,
Principles - Ray Dalio
Benefits of being radically transparent in work and relationships.
Radical transparency makes one’s actions and intentions clear, fostering meaningful work and relationships by allowing mutual understanding.
Principles - Ray Dalio
What are the 2 perspectives to learning from nature’s laws?
Nature’s laws can be approached through both top-down (universal code/law) and bottom-up (specific codes/laws for cases) perspectives.
Principles - Ray Dalio
What are Principles?
Principles are foundations aligned with goals and nature, applied repeatedly in similar situations to enhance decision-making for better outcomes.
Principles - Ray Dalio
What is the nature of evolution and its optimization?
Evolution involves constant adaptations and inventions benefiting the whole,
as nature optimizes for the entire system, not just the individual.
Principles - Ray Dalio
Briefly explain the concept that “Perfection is a goal that fuels a never-ending process of evolution in nature.”
Perfection serves as a goal driving an ongoing evolutionary process in nature, emphasizing continuous adaptations and improvements.
Principles - Ray Dalio
What are the 6 key actions emphasized in incorporating Principles into life?
BCA-ROM-MBD-OHA-SDMA-DPC
Be clear and authentic about principles,
reflect on mistakes (find principles),
make believability-weighted decisions,
operate with humility and audacity,
systemize decision-making through algorithms,
document principles for collaboration.