The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 15 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Dalio: Neither autocratic nor democratic decision-making works well in organizations
“The problem that most people have at that point is that either there is an autocratic decision maker or a democratic decision maker. Neither of those work well. The autocratic decision maker is just the guy who's the boss who says, okay, well, now I'm going to…”
Recurring employee delivery failures always stem from manager communication flaws
“If you, if you're in a situation Where you're like, you know, I've talked to the, I keep talking to my employees, and they keep not getting what I'm saying, and they keep, ah, you know, messing up and not delivering on time. A, that's not about them, that's ab…”
Bridgewater records nearly all internal meetings and discussions
“All discussions, meetings are taped and pretty much unless it's an ultra personal matter. We don't do that unless it's something proprietary. We don't do that, but when we're encountering other things most things, we let people see things, and the reason is if…”
Dalio: Bridgewater debates decision criteria rather than individual choices
“Rather than thinking about what our decision is, we spent more time thinking about what our criteria for making the decision is.”
Bridgewater anticipated the 2008 financial crisis by studying the 1930s
“The only reason we were able to anticipate it and benefit from it is because it, we felt that it was necessary to understand what had happened in the thirties and what happened before, because the same things happen over and over again.”
Dalio has no attachment to Bridgewater's culture after his departure
“No, no, it's, I would say it's like a family in the next generation, right? It's now up to others to make that choice, to not be attached.”
Dalio: Bridgewater scores team members to conduct believability-weighted voting
“And we literally have scores of these tests and whatever they are that become the scores. So we have believability weighted voting.”
Dalio: College hires and experienced hires succeed equally at Bridgewater
“The people who come directly from school are tend to be a little bit more arrogant, know a little bit less, and go through a transformation that's pretty much easier. They're more adaptable. So that's why they're prone to like it, but it, but also depending on…”
Dalio: Adapting to Bridgewater's culture typically takes about 18 months
“So it's a transition. It's probably like a transition of trying to eat healthy and exercise and do those types of things. Typically takes about 18 months.”
Dalio: Historical market patterns repeat and can be codified into algorithms
“Everything happens over and over again. Right? Everything I, we think of this as, everything's another one of those. So by being able to look at history and make the connections and examine how the mechanics of the cause-effect relationships are, That's what w…”
2017 marks Dalio's transition out of the Bridgewater CEO role
“2017 is my transition year. It's why I wrote the book, and it's why I'm in that process.”
Dalio: IBM Watson creator Dave Ferrucci works on Bridgewater data processing
“We have on the data collection processing type of thing, we have a fellow by the name of Dave Ferrucci, who was the person who started and created Watson at IBM.”
Dalio: Bridgewater's 1982 crash forced him to borrow $4,000 from his father
“I was so broke that I had to borrow 4000 dollars from my dad”
Dalio plans to release Bridgewater's internal management tools publicly
“A lot of these tools I'd like to get out there and make public at some point, I'm figuring out how to do that.”
Dalio punched his boss on New Year's Eve while drunk
“He and I were drunk on New Year's Eve, and yeah, you know, and we had we had this playful, fun challenging relationships, and I decked him, and he then crashed the car when he went home, and his wife chewed him out, and I figured that I was going to lose my jo…”