The KEY PRINCIPLES For Building A Life Of WEALTH & SUCCESS | Ray Dalio
What this covers
Join our Discord community so you don’t miss out on all the amazing things we are working on - http://impacttheory.com/discord. Here you will get direct access to Tom and the team PLUS exclusive content, offers, and so much more. Jump on in and get started on becoming legendary!
Check out Ray's NEW book: Principles for Success by Ray Dalio: http://bit.ly/PFS_ImpactTheory
Being one of the greatest investors in history, Ray Dalio could have easily retired into a life of ease, wealth and comfort. Instead, he has devoted his life to explaining the principles that made him successful. On this episode of Impact Theory with Tom Bilyeu, Ray Dalio details precisely how to implement radical transparency, explains how to get past your ego barrier and your blind spots, and shares the secrets to having freedom and a life worth savoring while at the same time achieving crushing success.
SHOW NOTES:
Tom describes the effect Principles had on him [3:05] You can’t always trust that you are right [4:34] Ray describes the “two you’s” and how he gets out of his own way [6:34] Ray and Tom discuss meditation [11:28] Tom explains how he adopted the identity of the learner [14:34] Ray describes the ego barrier and the blind spot barrier [17:03] Ray explains the concept of “just another one of those” [20:04] Ray details precisely how to avoid constantly making exceptions [25:14] Ray explains how to implement radical transparency [26:47] Ray details how to deal with a serious disagreement between two people [30:46] Ray advocates that sometimes you just have to move on [33:01] Ray explains why life almost always works the opposite of the way you think [36:45] Ray talks about how if you want self-discovery you will find a way to get it [39:43] Ray explains how to get the most out of every single minute [43:11] Ray defines tough love and struggling well [44:31] Ray talks about savoring life, freedom, and the life arc [49:00] Tom and Ray discuss that you really can’t skip a phase in life [54:37] Ray shares the impact he wants to have on the world [1:00:40]
QUOTES:
“Meditation is the biggest gift that I can give anyone. And I would say, more than anything, it is whatever reason for success I’ve had.” [8:37] “You only have to know what the best things to do are. You don’t have to have them all come up from your head. And for God’s sake, don’t be overly opinionated! Just because you have that opinion, it doesn’t mean it’s true.” [11:08] “I got into the habit that I suggest you get into, that other people get into. Whenever you’re in a situation where you’re making an important decision, just pause. And write down: what type of decision was it? And why did I make that decision that way? That’s writing down your principles. It’s kind of your recipe for success.” [23:28] “If you worry, you don’t have to worry. And if you don’t worry, you have to worry.” [46:08]
FOLLOW RAY:
WEBSITE: principles.com INSTAGRAM: https://bit.ly/37hc087 FACEBOOK: https://bit.ly/2On6wjB TWITTER: https://bit.ly/2KwfcDh
BOOKS MENTIONED IN THIS EPISODE: The Hero with a Thousand Faces by Joseph Campbell: https://amzn.to/2qLS3FZ [0:03] Principles by Ray Dalio: https://amzn.to/32UawgF [2:35]
IMPACT THEORY MERCHANDISE: Check out ImpactTheory's Merch Shop: https://shop.impacttheory.com/
Source description (no synthesized summary yet).
Ray Dalio argues that success in life and business depends on aligning your emotional and logical minds, embracing radical transparency and truthfulness, understanding that most situations are recurring patterns ('another one of those'), and recognizing that pain and struggle are essential teachers rather than obstacles to avoid.
- The ego barrier and blind spot barrier prevent most people from achieving their potential, but meditation and radical transparency enable alignment between subliminal and conscious minds
- Life operates on inverted principles where first-order consequences (comfort, avoiding pain) contradict second-order consequences (growth, strength); recognizing this inversion is critical to decision-making
- Viewing all situations as recurring patterns allows you to apply pre-existing principles rather than constantly re-solving unique problems, reducing decision fatigue and enabling better outcomes
This asset isn't compiled yet
You're seeing its claims, ranked. Compile it to build the argument threads, weight them, and check each claim against your library — the full view.
In 1980-1981, Ray Dalio calculated that American banks had lent significant money to countries that would not be able to repay the debt, predicting a banking crisis, but was proven dramatically wrong when Mexico defaulted in August 1982 and the stock market hit bottom, forcing him to lay off employees and borrow $4,000 from his father to pay family bills.
“in 198081, I had calculated that American banks had lent a lot more money to countries that would not be able to pay the debt back. A lot of money, banking crisis and that was very controversial point of view... Mexico defaulted on its desk in August 1982 and I thought that we're now going to go into an economic crisis... I was very publicly wrong... I had to let go those people. And I was so broke that I had to borrow $4,000 from my dad to help to pay for family bills.”
If you worry about what can go wrong, you'll create protections against those things, so you won't actually have to worry; conversely, if you don't worry about future dangers, those unexpected problems will hit you, so you'll need to worry after the fact—meaning the best strategy is proactive worry paired with preparation.
“I have a a saying. If you worry, you don't have to worry. And if you don't worry, you have to worry... if you're worrying about what can go wrong, you chances are you will create the protections against that thing going wrong. And therefore that's good. And if you're not worrying about the things that are going to go wrong, then they'll probably the things you never expect are going to come and hit you.”
Life is counterintuitive: first-order consequences (things that feel good, like comfort and avoiding pain) almost always contradict second-order consequences (things that actually produce long-term wellbeing, like struggle and discomfort), so navigating life well requires prioritizing second-order over first-order outcomes.
“Well, that life works almost the opposite than the way you believe it works. That the things that you think are good are often bad for you... like it feels good almost always or quite often the first order consequences of things like um I feels good it makes me happy I don't want to argue uh I don't want to deal with the challenges I want to avoid the pain that whole litany of things that you would say ah that's going to bring you a happy life kind of thing the second order consequences are more often the opposite than the first order consequences.”
In investment management and entrepreneurship, you must bet against consensus and be right; if your bet mirrors consensus, it's already priced in and you can't outperform, so success requires both willingness to be contrarian and ability to actually be correct in that contrarian view.
“I'm in the investment management business that you have to bet against the consensus and you have to bet against the consensus and be right. Or as an entrepreneur, I'm an entrepreneur. I had to bet against the consensus and be right.”
The recognition that 'it's another one of those'—understanding that your current situation is a recurrence of a pattern that's happened many times before—removes fear and uncertainty because it contextualizes the problem within a known category rather than treating it as unprecedented and paralyzing.
“the notion of it's another one of those like the and I say that in a way designed to remove fear and uncertainty which is something that paralyzes so many people and I think one of the things you've really given certainly me and anybody who's really deeply come in contact with your work is that sense of there is that higher perspective that shows that you're not the first person to have a child. You're not the first person to embarrass yourself publicly. You're not the first person to go through whatever heartbreak or heartache that you're going through.”
To get more out of a minute or hour: (1) make your passion and work the same thing so all time invested is intrinsically rewarding; (2) learn to leverage other people who can do things well so you multiply what gets accomplished without doing it yourself; (3) develop the right work habits and systems that enable efficiency.
“First of all, if you do make your passion and your work the same thing, um then you're it's great, right? Because your passion uh whatever it might be, you're a painter or you're an entrepreneur or whatever that is and you find that more enjoyable than going to a ball game, let's say, then that's becomes a passionate thing. That's one thing. Second, to know how to work with people who can do things really well to get the most leverage out of people. Okay. Third, how do you get yourself really what are the right work habits? Um, you know, anyway, there's a whole bunch of those kinds of things”
Life follows an arc with distinct phases: phase one (dependent/learning, childhood to early adulthood) is exploratory and enjoyable; phase two (others depend on you, adulthood) involves obligations, work-life balance struggles, and lowest measured happiness between ages 45-55; phase three (independent/savoring, after 60) produces the highest happiness, freedom, and life satisfaction despite people rating themselves as less attractive.
“the least happy period in life by s surveys of happiness is um 45 to 55. Okay, that uh uh because that then you have the work life balance and the obligations and too many things to do... the happiest phase in life is um between uh 60 and 80”
Everything that happens has happened many times before in similar patterns; when you understand this principle and learn from history and people who've navigated those patterns, you can apply their wisdom rather than constantly re-discovering solutions, reducing complexity and increasing effectiveness.
“Almost everything that happens has happened many many times before. And just like I described, there's the hero's journey and there's this and that. There's that particular path and the whole thing happens over and over again.”
Knowing what you're good at and what you're not good at is valuable not because you should try harder to improve weaknesses, but because you can then delegate or partner with people whose strengths cover your gaps, eliminating the need to be excellent at everything.
“If you know what you're not good at, it's your life's no problem because it you don't even have to get good at it. You just have to work with somebody who's good at what you're not good at. Right?”
Pain plus reflection equals progress; pain is a teacher that provides messages about what's wrong, so eliminating pain from your life won't give you a better life—instead, you need to lean into pain and understand what it's teaching you.
“Pain plus reflection equals progress. Pain is a teacher. You want to eliminate pain from your life, you're going to have a better life. No, no, no. Because it's giving you messages. Okay?”
When you can 'go above yourself'—stepping back to observe your own circumstances, motivations, and reactions with detachment—you gain the ability to navigate challenges objectively and see beyond your ego's defensive reactions.
“let me go above myself and look at myself within the context of my circumstances. What is around me? How does that work? How does reality work? Okay, if I do this, what are the consequences? And so the the going above it and just saying I'm responsible for my decisions my life and how do I navigate the things the things there that I can pull the levers of to who do I get how do I do how do I deal with those and going above it in that calm way is really what it's about”
Ray uses transcendental meditation specifically, which involves reaching a state where one is neither conscious nor unconscious but in the subconscious, creating deep access to intuition and creativity where breakthrough ideas emerge without conscious effort.
“When you transcend. I do transcendental meditation. When you transcend, I I'm not conscious and I'm not unconscious. I am in the subconscious. I I'm not aware. Uh but if somebody went make a little noise like that, boom, I would c I would. So it's not like being asleep. And that's also, by the way, where creativity comes from it. You know, it's like you go take a hot shower and a great idea comes, not because you're musling it.”
The ego barrier occurs when the subliminal emotional system refuses to acknowledge or accept its own weaknesses because doing so threatens the ego, preventing the logical mind from accurately assessing reality and making good decisions.
“If you can get past your ego barrier and you get past your blind spot barrier, you can accomplish anything because you'll also know that you don't have to do everything to you don't have to figure it out yourself. You can take in from other people the different ways to approach things in the best possible way.”
Meditation is the biggest gift that can be given to anyone and is the primary reason for Ray Dalio's success because it enables alignment between the subliminal emotional/limbic system part of the brain and the logical conscious part, allowing one to observe and manage ego barriers and blind spots.
“Meditation was fantastic. Meditation is the biggest gift that I can give anyone. And I would say more than anything, it is whatever reason for success I've had. Uh because it allows one back to the two U's.”
The 'two U's' refer to two distinct parts of the mind: the logical conscious mind ('upper case U') and the subliminal emotional/limbic system mind ('lower case u'), which often want different things and are frequently misaligned, causing decision-making conflicts and poor outcomes.
“in your mind there we think what do you want and the reality is when you look at the neuroscience and psychology that there are different parts of your brain that want different things and so in the simplest sense there is the logical part of your brain that you're conscious of. It's called the conscious and you think you're being logical and you want to make those decisions. And then there's the subliminal below the limbic system part of the brain which is the emotional and it's not as conscious to you but it has more of an influence on you than really the logical one.”
By developing the habit of pausing after important decisions and writing down what type of decision it was and why you made it that way, you build a personal library of decision-making principles that become your 'recipe for success' and can be refined and applied to future similar situations.
“I got in the habit that I'd suggest you get into and other people get into. And that is um whenever you're in a situation where you're making a decision, important decision, just pause and write down what type of decision was it and why did I make that decision that way. That's writing down your principles. It's kind of your recipe for success. and we could talk about it and then every time I'm in a situation I'll write down why did I make that decision and we could look at those criteria did that make sense to do that decision that way would you have different criteria and so on”
People's preferences change significantly across the lifespan—what you love at age 10, 20, 30, 40, and 50 are all different things; understanding this helps you navigate life changes and recognize that your current desires and frustrations are temporary patterns that will evolve.
“the thing you love at 10 is different than the thing you love at 20 or 30. We all can think what is the thing you loved at 20 or 30. Woo that was fun. And then you go to 40 and you go to 50 and they change.”
People should not be round pegs in square holes; finding one's nature and aligning passion with work enables flourishing, whereas forcing oneself into misaligned roles produces dysfunction and unhappiness.
“don't be, you know, a round peg in a square hole. Find your nature. what's going to flourish and make your you know that's why I said when you were talking about your development mine too make your passion and your work the same thing know what your nature is”
Self-discovery is a continuous process that involves discovering what you want and what you like through active exploration and self-inquiry; tools like Myers-Briggs, team dimension assessments, and workplace inventories can facilitate this discovery, but the desire to discover is the prerequisite.
“it's really a self-discovery process discovering what you want uh discovering what you like you were describing your various cases where you're discovering what you like and then you go through that discovery and and the best way to do that is to want to do that right it takes an hour and it's a self-discovery thing... And then we move beyond that. The main thing like is if you want self-discovery, you then you then you'll find your ways of getting the self-discovery. They'll appear all around you.”
The 'art of thoughtful disagreement' is a skill that relationships (marriage, partnerships, teams) require in order to function; when disagreements arise, both parties need to understand protocols for moving through disagreement toward shared understanding rather than just defending positions.
“There are going to be agreements and disagreements and you have to have the art of thoughtful disagreement... in some way you have to find out how to do the art of thoughtful disagreement. It's and it makes sense. And then also knowing what's good, what you're good at, and what you're not good at.”
The blind spot barrier occurs because different people naturally perceive different aspects of reality (like a color spectrum), seeing the big picture vs. details, focusing on different elements, and people unaware of their blind spots cannot access information they literally cannot see.
“The blind spot barrier is the realization that people actually see things different. They see different things like somebody will see the big picture, somebody will see the detail. They'll focus on different things almost like a color spectrum type of thing. And if you realize that you will see a part of that spectrum and other people will see the other part of the spectrum.”
The Buddhist concept 'this too shall pass' describes that all conditions, whether joyful or painful, are temporary and cyclical; understanding this removes both excessive attachment to good experiences and excessive despair about bad ones.
“This too shall pass. Like whatever hardship you're in the middle of or whatever joy you're in the middle of, it's it's all part of a cycle. And so all of it will ease in the end.”
Interestingly, people ages 60-80 report how good they look as the highest at this phase, which seems untrue objectively but reflects that they feel more comfortable with themselves and are less focused on external judgments.
“they ask people um um how good do how good do you look um and they rate it the highest at [laughter] that age. Now that's not [53:09] true, right? But what happens is people at that po point feel more comfortable with themselves in various ways.”
Struggling well is a virtue; the phrase 'tough love' exemplifies that struggle and kindness are not opposites but complements; going to the struggle rather than being averse to it enables the strength and capability needed to achieve goals.
“that's why that phrase I use the phrase struggle well or tough love. Okay, I put those words together because that ex exemplifies the fact that people don't think they go together. And so if you start to realize struggling well is what you're uh will get you what you want. Okay, rather than avoiding struggle u that's what I'm trying to convey.”
Joseph Campbell's Hero of a Thousand Faces describes that everyone crashes and is faced with a choice: either have an epiphany and gain humility or walk off the field and give up on audacious goals; Dalio used this framework to understand his 1982 failure as the beginning of transformation rather than an ending.
“My son in 2014 gave me a book by Joseph Campbell called Hero of Thousand Faces and basically he described that you know everybody crashes and then you're faced with uh that crash and you either have an epiphany or you don't. Now you either walk off the field and say, 'Hey, I don't want to do this anymore.' And you give up on that going after your audacious goals. Or you gain really humility.”
Failure is the beginning of a discovery process and is a good thing; the education system's treatment of failure as evidence of stupidity is counterproductive and prevents the learning that comes from analyzing and reflecting on failure.
“You failed. Hey, that's the beginning of a discovery process. That's a good thing. Okay. Okay. Now, how do I look at failure and learn from failure? No, you're stupid. You failed.”
Tom recognized that he was unable to imagine a company built on radical transparency before reading Dalio's book, similar to how Roger Bannister's breaking the four-minute mile made it conceivable to others; until you know something is possible, you literally fail to consider it as an option.
“And when I read the book, it made me realize that for the first time in my life, I'd really had a failure of imagination. It simply didn't cross my mind that you could expect a group that large to be radically transparent with each other and to have radical cander as a core part of the company. And so reading the book, it was sort of my, if you know, Roger Banister and the four-minute mile was like until you know that it can happen, it's you just fail to even consider it as an option.”
Life is like crossing a jungle: there are inherent risks and you will encounter unexpected challenges, but the rewards of crossing (a great life) are worth the dangers; the key is to worry about what might go wrong, work with others who see things you don't see, and maintain a shared mission while navigating together.
“So I viewed it as okay I'm like sitting on one side of a jungle and that if I can get to the other side of a jungle safely I'll have a great life but okay but if I cross the jungle all sorts of things going to happen. Now what am I going to choose? Am I going to be on this side of the jungle and have just an ordinary life or am I going to have what I think is the best life possible but oo I can get bit and all those things.”
When you triangulate with other people—going above ego with them and looking objectively at circumstances together—you can achieve alignment on goals and navigate toward shared objectives more effectively than individuals working separately.
“And when you do it well with others so you triangulate that's why I have the radical truthfulness and the radical transparency when you have that radical truthfulness and the radical transparency. You're triangulating with others. You're going above it with them and you're just looking at that circumstance and you say, 'Okay, well, we're in the same goal or are we?' And then how do I navigate those so that we get to where we want to go?”
Bridgewater's approach to radical transparency enables people to watch the same interactions and assess whether the process itself is fair and whether difficult feedback is being delivered humanely, creating collective accountability for how people are being treated while still maintaining honesty.
“I like to make everything transparent. So, everybody could watch the same thing happening with anybody. So, I would do this trical transparency because that way people see is it fair is it a good process”
Tom had a fundamental realization that he was consciously claiming he wanted to generate wealth but emotionally/subliminally wanted people to tell him he was smart, creating a conflict that drove him to argue for a bad idea just to win, until he recognized this pattern and shifted his identity from 'being smart' to 'learning.'
“one of the biggest and most profound probably the only lightning rod moment in my life where it's like whoa my life can be divided into before that literal like instantaneous recognition and after everything is completely different and that was the first time where I realized that I was being driven by something that I had not yet recognized which was I was telling everybody that I wanted to generate wealth in my life but I was acting like I just wanted people to tell me that I was smart”
Intuition, imagination, and the things you love come from your subliminal/emotional brain, and they may be valuable or damaging—you can't know which until you examine them with your logical mind and see if they align with reality and your conscious goals.
“Intuition, imagination, the things we really love come from our subliminal uses, right? Our needs, whatever they may be, they come from here. That subliminal, they may be valuable. They may be scar damaging. You don't know the difference. And so when they come up and you're looking at those with your logical mind and you can align those things, you're probably in good shape.”
Most personality types are playing out similar scripts (perhaps 50 different personality types, each living out roughly one of about 50 scripts), so when life events happen, they seem unique because you're seeing them bit by bit in a snowstorm, but stepping back lets you categorize which script is operating.
“Maybe there are something like 50 different personality types. I don't know what the exact number is. And they are all living out the same scripts and maybe they're just 50 different scripts...it seems all confusing because we're looking at them bit bit by bit. You know, it's like you're in a blizzard, a snowstorm, and each of these bits come at you”
Defining what type of situation you're in enables you to refine your principles because variations matter (e.g., firing someone new is different from firing someone you love who's been with you for 10 years; both are firing but require different criteria).
“the next time around you're going to find, I don't know, let's say you're firing somebody. Use that as an example. You would say, 'Okay, now I'm firing somebody again.' Okay, now let me just kind of reflect. Would I modify that principle? And how would I do that? And then, okay, now maybe you you're firing somebody who's been with you for 10 years and you love and that's not the same as firing the son of a [ __ ] who you want to get rid of. So then you refine that. How how should I deal with that one and that and why does it make sense?”
Ray Dalio's current mission in phase three is to pass along the tools and principles that helped him (meditative practice, radical transparency, decision-making frameworks) so they don't die with him; he has no goal to change the world but rather to make these tools available and let evolution and people's own choices determine their value.
“my responsibility now is to pass along what I'm doing. Like, all right, I got plenty of money, so I'm not working for money. I'm giving away plenty of money because of because it helps and whatever. And I'm just passing along.”
If someone finds themselves in an organization or relationship where honest conversation about differences is impossible, and that way of being is fundamentally unacceptable for their development, they should leave rather than remain trapped in a culture that prevents the alignment and transparency they need.
“If you cannot sit down and have a conversation about how we're going to be with each other because they won't welcome it and that way of being is an unacceptable way of being for you and your development, get the hell out of there.”
Most people underestimate the degree of freedom they actually have; they feel trapped in organizations or relationships that don't serve them, but they operate under false constraints, thinking they have fewer options ('fish in the sea') than actually exist in the world.
“Don't feel so trapped unless you really are trapped trapped. Trapped. But most people aren't. It's like it's like um you know too many fish in the sea. There are a lot of people marry. If you if the first one is not working out right and it really is fundamentally wrong, okay, move on. And in your job, it's the same thing.”
Radical truthfulness and transparency are fundamentally healthy and beneficial; people's belief that they're unhealthy comes from their own ego resistance, not from any actual downside to truth-seeking.
“I I look at this, you know, like I say, oh look, all we're doing is being truthful and transparent. What's the problem with [laughter] this? Like, okay, you're being truthful. So, but but then people, you ask them, what's the problem? or do you want to know what your weaknesses are? And you ask them what's the problem? Okay, it's always that that's not healthy.”
Tom's recognition that he doesn't want to retire to an island despite having the financial ability to do so indicates that he's still in phase two and craves the struggle and mission; understanding that preferences change across life phases suggests he will eventually transition to phase three when the phase two mission naturally exhausts.
“my wife and I have made enough money we could buy an island and retire and and just be done with it. And when I really thought about how that would make me feel, didn't seem like it would make me feel the way that I want to feel because I still want to be in the jungle. But as I hear you describe the savoring, it's like, yeah, I get how my life could get to a point where that's what I would crave.”
Bridgewater's culture of radical transparency is the opposite of most organizations—you can talk about how you should be with each other and discuss nearly anything openly, whereas most organizations force people to hide their true thoughts.
“Bridgewater is very much the opposite of a lot of companies meaning you could talk about anything you could talk about how we should be to each other you can say so so that's a culture where the person who has the struggle with that like uh where they can say hey I think you're a son of a [ __ ] or they could say that to me you could say anything you want and then we try to find out is it true and then we work ourselves through it”
Culture—how people are going to be with each other and what kinds of conversations are possible—is critically important to check before joining an organization or relationship, because you need to know whether the culture allows you to have the honest conversations necessary for growth and understanding.
“that's why culture is so important you know what kind of culture do I have a culture in which I can have those conversations or am I going to be in a culture in which I can't”
When you want to accomplish something significant, you cannot skip over the responsibility and struggle phase by moving directly to the savoring phase; you must complete each life phase sequentially.
“I personally don't believe that you can skip a phase. I don't think that certainly not with my personality and probably not with yours. It's not like you can skip the the accomplishment phase and go straight to the saver phase.”
The rewarding aspect of crossing the jungle well together is not reaching the other side but the relationships and mission with the people you're traveling with; once Ray realized this, he found he didn't want to leave the jungle because being with those people on the shared mission became the greatest reward.
“when I went through that jungle and we do that together the thing I found out which is so wonderful is I don't want to leave the jungle I don't want to get to the other side because I want to be with those people on that mission and that whole experience is becomes great”
Approximately 30% of people cannot practice radical transparency because they struggle with the ego barrier and cannot simultaneously hold the positions 'I have an honest assessment of you' and 'I don't know if that assessment is true; let's figure it out together' without their ego becoming defensive.
“You've talked about how about 30% of the people cannot do radical cander. Be great for you to I call radical transparency but whatever. So radical transparency define what that is exactly and then what is it about that 30% like are they they can't get rid of the ego or what what is that?”
Ray Dalio accurately predicted the 2008 financial crisis, which is presented as evidence of the effectiveness of his systematic approach to understanding economic reality.
“given his accurate prediction of the 2008 financial crisis, it is not hard to understand why”
Bridgewater is described as 'the most successful hedge fund of all time' based on having returned more money to investors than any other hedge fund, with Ray Dalio having approximately 160 billion dollars under management at the time of the interview.
“the founder of the most successful hedge fund of all time. He's returned more to his investors than anyone else in this space...With roughly 160 billion dollars under management, Fortune magazine named his company Bridgewater one of the top five most influential private companies in the US”
The Principles book and the accompanying free app 'Principles in Action' enable people to experience the Bridgewater culture, understand how radical transparency works in practice, and use built-in tools to record and access their own developing principles.
“the best thing if you have an iPhone um you can go on principles um uh principles in action on the there's a free app and it gives the book and it actually takes people into what the culture is like and all that and it's free. So that would be that's it's the book plus stuff. It also has a an app there that helps you write down your own principles.”
Dalio explicitly stated he is 70 years old at the time of this interview and is now primarily focused on passing along what he's learned rather than continuing to manage money or build wealth for himself.
“I'm 70 years old and the thing that I want more than anything is to pass along with those things that have been helpful”