The Principles book Summary Author sat I believe that the key to success lies in knowing how to both strive for a lot and fail well. By failing well, I mean being able to experience painful failures that provide big learnings without failing badly enough to get knocked out of the game. This way of learning and improving has been best for me because of what I’m like and because of what I do. I’ve always had a bad rote memory and didn’t like following other people’s instructions, but I loved figuring out how things work for myself.
Book : Principles By Ray Dalio
Ray Dalio Principles Summary
The Author says when we are children, other people, typically our parents, guide us through our encounters with reality. As we get older, we begin to make our own choices. We choose what we are going after (our goals), and that influences our paths. Over the course of our lives, we make millions and millions of decisions that are essentially bets, some large and some small. It pay s to think about how we make them because they are what ultimately determine the quality of our lives.
BUILDING THE BUSINESS
The Author says while making money was good, having meaningful work and meaningful relationships was far better. To me, meaningful work is being on a mission I become engrossed in, and meaningful relationships are those I have with people I care deeply about and who care deeply about me.
It’s senseless to have making money as your goal as money has no intrinsic value—its value comes from what it can buy, and it can’t buy everything. It’s smarter to start with what you really want, which are your real goals, and then work back to what you need to attain them. Money will be one of the things you need, but it’s not the only one and certainly not the most important one once you get past having the amount you need to get what you really want.
RETURNING THE BOON
The Author says i seems to me that life consists of three phases. In the first, we are dependent on others and we learn. In the second, others depend on us and we work. And in the third and last, when others no longer depend on us and we no longer have to work, we are free to savor life.
LEARNING WHAT SHAPERS LOOK LIKE
A shaper is someone who comes up with unique and valuable visions and builds them out beautifully, typically over the doubts and opposition of others. Jobs built the world’s largest and most successful company by revolutionizing computing, music, communications, animation, and photography with beautifully designed products.
Bill Gates has been a shaper in both business and philanthropy, as was Andrew Carnegie. Mike Bloomberg has been a shaper in business, philanthropy, and government. Einstein, Freud, Darwin, and Newton were giant shapers in the sciences. Christ, Muhammad, and the Buddha were religious shapers. They all had original visions and successfully built them out.
Embrace Reality & Deal with It
The Author says there is nothing more important than understanding how reality works and how to deal with it. The state of mind you bring to this process makes all the difference. I have found it helpful to think of my life as if it were a game in which each problem I face is a puzzle I need to solve. By solving the puzzle, I get a gem in the form of a principle that helps me avoid the same sort of problem in the future.
Learning how reality works, visualizing the things I want to create, and then building them out is incredibly exciting to me. Stretching for big goals puts me in the position of failing and needing to learn and come up with new inventions in order to move forward. I find it exhilarating being caught up in the feedback loop of rapid learning—just as a surfer loves riding a wave, even though it sometimes leads to crashes.
Don’t get me wrong: I believe in making dreams happen. To me, there’s nothing better in life than doing that. The pursuit of dreams is what gives life its flavor. My point is that people who create great things aren’t idle dreamers: They are totally grounded in reality. Being hyper realistic will help you choose your dreams wisely and then achieve them.
All the laws of reality were given to us by nature. Man didn’t create these laws, but by understanding them we can use them to foster our own evolution and achieve our goals. For example, our ability to fly or to send cell phone signals around the world came from understanding and applying the existing rules of reality—the physical laws or principles that govern the natural world.
Where you go in life will depend on how you see things and who and what you feel connected to (your family, your community, your country, mankind, the whole ecosystem, everything). You will have to decide to what extent you will put the interests of others above y our own, and which others you will choose to do so for.
ABOUT THE AUTHOR
Ray Dalio, who grew up a very ordinary middle-class kid from Long Island, started the investment company Bridgewater Associates out of his two-bedroom apartment when he was 26Myears old, and built it over the next 42 years into what Fortune magazine assessed to be the fifth most important private company in the U.S. He did that by creating a unique culture—an idea meritocracy based on radical truth, radical transparency, and believability-weighted decision making—that he believes most people and organizations can use to better achieve their own goals.