"the following is a conversation with Ray Dalio he's the founder co-chairman and Co chief investment officer of Bridgewater associates one of the world's largest and most successful investment firms th..."

"his book principles there are also even further condensed on several other platforms including YouTube where for example the 30 minute video titled how the economic machine works is one of the best ed..."

"podcast if you enjoy it subscribe on YouTube give it five stars on Apple podcast support on patreon or simply connect with me on Twitter Alex Friedman spelled Fri D M a.m. this show is presented by ca..."

"truth or more precisely an accurate understanding of reality is the essential foundation of any good outcome I believe you've said that let me ask an absurd sounding question at the - South Col level ..."

"out what's true and what's been discovered before is often not true right conventional view of what what is true is very often wrong it'll go in ups and downs and you know I mean there are fads and ok..."

"moving toward that goal so the the call to adventure the adventure starts not trying to analyze the probabilities of the situation but using what instinct how do you dive in so let's talk what it is i..."

"Musk he describes he gets a lot of money from selling PayPal his interest in PayPal he said why isn't anybody going to Mars or out of space what we're gonna do if the planet goes to hell and how do i ..."

"and he tests low on the courts called concern for others because what it really those the questions under that are questions about conflict to get at the mission so they all Geoffrey Canada change Har..."

"skills of people who see things different from them brilliant so how do you when they're that personality being first of all open to the fact that there's other people see things differently than you ..."

"meritocracy an idea meritocracy is to get the best ideas that are available out there and to work together with other people and the team to achieve that it's an incredible process that you describe i..."

"delusion I think you're over emphasizing the importance of knowing whether you're going to succeed or not get rid of that okay if you can get rid of that and say okay no I can have that dream but I'm ..."

"your own process I mean you've talked about it before but it'll be great if you can describe it because our darkest moments are perhaps the most interesting so your own and what the prediction of the ..."

"so if we can look around a little bit longer the idea of an idea meritocracy it's fascinating but especially because it seems to be rare not just in companies but in society so there's a lot of people..."

"conversation it as we're trying to decide what is true and we're trying to do that together and we see truth different then I might even call in another really smart capable person and try to say what..."

"and they'll give them credit and along those lines then what happens is it's not managed well in a variety of ways so I did a another book on principles principles of big debt crisis that go into that..."

"and then also you have a government which is a participant in that process because they want they are on the hook they old money and then will they print the money to make it easy for everybody to pay..."

"come into that Bitcoin other forms what do you think is its history and future how do you think about money there are two things that money is for it's a medium of exchange and it's a store hold of we..."

"right it is the notion that if I give it to you I can then take it and I can buy something with it and that's so it's a matter of perception okay and then we go through then the history of money and t..."

"periods of time so it evolved and it changes but everybody needs that medium of exchange and everybody needs that store hold of wealth so it keeps changing what is money over a period of time but so m..."

"question is what happens okay what happens is two central banks allow that to happen I really do believe it's possible to get a better form of money that central banks don't control okay a better forc..."

"have that let's say get into a position that would be you know effective means relative to gold let's say if you were think of that because gold has a track record you know of thousands of years okay ..."

"dumb question but romanticize one when you sit back and you look you describe these transactions between individuals somehow creating short term debt cycles long-term debt cycles this productivity gro..."

"abstractions that are true you know it's imagination and then the ability to go from one level and then if these things are true then you go to the next level and if those things are true then you go ..."

"people's lifetimes and what happened in other countries and places so that I would have timeless and universal principles for dealing with that thing so I oh yeah I've been some you know the implausib..."

"only an investment but I give them more all encompassing rule for AI as I think you know for the last 25 years we have taken our thinking and put them in algorithms and so we make decisions that the c..."

"understanding of the cause-effect relationships that are leading you to place that bet in anything okay anything important let's say if it was do surgeries and you would say how do I do surgeries I th..."

"you're going to get in trouble and so that's the main thing as far as AI is concerned ai and I'd say computer replications of thinking in very ways I think it's particularly good for processing but bu..."

"operating in a way where you know you can say ah that makes sense you know the process of reducing your understanding down to principles is kind of like the process the the first one you mentioned a t..."

"is very powerful so when you're in that moment where you've just you're thinking about it and you're thinking your criteria for you know choosing the school for your child or whatever that might be an..."

"the past an earlier statement you've made and you're convinced to me at first you said there's no way a computer could raise a child essentially but now you've described in making me think of it if yo..."

"decision-making because right now individuals based on what stuck in their heads are making their decisions in very ignorant ways they're not the best decision makers they're not the best criteria and..."

"I find is that by going from my you experience the decision do this thing subliminally and that's the thing I want it comes to the surface I find that if I can align that with what my logical me wants..."

"there in your sense uh most of the ones the most of the ones that I'm dealing with I have not seen that I see the what I really see is who if I can do that that would be the most dream and then the ac..."

"goes off yeah okay and so you can you can see this kay Jamison was studying bipolar what it shows is that you know that's definitely the case because when you're going out there that imagination whate..."

"it's a two-edged sword because it'll have tremendous benefits and at the same time it has profound benefits in employment and distributions of wealth because the way I think think about it is there ar..."

"really as an emergency situation in which there's a good work good plan worked out for how to deal with that effectively so that it's dealt with effectively so because it's it's it you know it's good ..."

"world of difference for example if you have good parents who are trying to think about instilling the stability in a non traumatic environment to provide them so I would say the good guidance that nor..."

"I think it's a great thing that everybody should have almost a thousand dollars in their bank and so on but when do they get to make decisions or who's the parent a lot of pit times you can give a tho..."

"good well put your if I may say so one of the richest people in the world so you're a good person ask does money buy happiness no it's been shown that between once you get over a basic level of income..."

"okay that is that's really good and you don't that's what a that's what money will get you and everything else is could go either way well there's more there's more okay then beyond that what it then ..."

"passion the same thing ok ok so that's similar face uh-uh-uh-uh-uh in other words if you can make your work in your passion it's just gonna work out great and then of course people have different purp..."

"relationships I mean that is fabulous for most people and it seems that many people struggle to get there not out of not necessarily because they're constrained by the fact that they have the financia..."

"working and others are dependent on you and you're trying to be successful and in that phase of one's life you encounter the work-life balance challenge because you're trying to be successful at work ..."

"primary struggle in that 35 to 45 you know if you could linger on that sort of what are the ups and downs of life in terms of happiness in general and perhaps in your own life when you look back at th..."

"average actually it's the highest very interesting thing if they and they their surveys and say how good do you look and how good do you feel and and that's the highest survey the person now they not ..."

"lot of incredible videos out there that people should definitely watch I don't say this often I mean it's literally the best spend of time and in terms of reading principles and reading basically anyt..."