Ray Dalio Principles

HOW TO GET BEYOND DISAGREEMENTS

 -provide a way for people to express their disagreements and move forward.

**Idea: We don't listen. We just want positivity. Show compassion. complaint box, what's working box. If we only want positivity, we miss the things we gotta fix. The things that do not work. 

People disagreeing can work things out on their own. What is true and what to do about it?

Voting and go with the verdict. they agree with the procedures and the resulting verdict. separate themselves form their opinion and don't get angry if they don't get their way. 

1.2 Principles can't be ignored by mutual agreement.

They are like laws, you can't break it just because you and someone else agree to break it. 

If it's a wrong principle, fight to change the principle.

Everyone's responsibility to speak up, fight to change the principles not just do what you want to do.

a) same standard of behavior go to everyone. open minded, equally considerate. 

**Story: the person I reported to, she was sleeping with the CEO. I couldn't' go above her head, because he was going to side with her. I couldn't go to her about the way she favored another employee, because she did so because that was her best friend. I felt stuck, what could I do? no right answer! and I was underpaid and worked 6 days a week with a 1.5 hour commute. **

No integrity in the workplace. Everyone should be held to the same standard. 

She gave us a task, I said its too much work. She said, this girl got it done. Yeah, she got it done because she stopped answering the phone. now I'm answering all the calls plus getting the piles done. It was unfair, and no one stuck up for me. I stuck up for myself but there was favoritism. Nothing I could do. How I got out? The stress made my stomach eat itself and I took a day off to go to the doctor and once I got out of the routine, I couldn't go back.

2nd story- CEO was sleeping with a manager. she wore short skirts, yelled at everyone and always had her boobs out. Nothing we could do, just put up with her. She treated the people below her like servants. She was bad at her job and she knew it but we couldn't do anything about it.

6.2 Make sure people they don't confuse the right to complain, give advice and openly debate with the right to make decisions (mom)

family- complaints and give advice. What advice does Marvin gave? its not bad if they take your son. that's your opinion. then i go into justifying what I feel mode. Just stop. Make a decision. Make it as quick as possible. i have insecurity around my son getting surgery. I have to go into it, get into the waters. Find out all the information.

Last night I was saying out loud, I am the CEO, I make the decisions! You have give input and opinions but you are not in charge. She doesn't get the balance, never has. She is not going to change, I am. Stop giving her space to input her opinions, decisions, about Alex. He is my son. 

Friends-Sometimes we ask advice. I appreciated Trapper's decision to not see his father because you could tell he had thought about it and had made his decision and was willing to face the consequences. He made himself responsible with the consequences. 

6.3 don't leave important conflicts unresolved. consequences are critical in the long run. The entire organization, to ensure quality decision making. 

***Don't let the little things divide you. Becoming enemies. Narcism of small difference. ex. protestants and Catholics. for me, Puerto Ricans and Dominicans. To be honest, we are so passionate about our country that we don't want to hear about the country that we are being compared to. 

**I learned don't take a big beef in the world, we don't have to carry that. ***

Most things I said were stereotypes. My collection of thoughts and ideas I had heard about why I, as a Dominican, should hate Puerto Ricans. Also, I should also hate Haitians. I should also stay away from dark skin. I loved dark skin. My college roommate was Haitian and my ex is Haitian. Try it for yourself. Don't hide from it. Face the conflict. Only had one Puerto Rican friend, Jess and we spoke everyday before and after high school. 

6.4 Practice 

Which type of person you and the people around yo are. recognize that many people cannot see things from a higher level. get rid of them who can't or have guardrails.

Okay to continue to disagree on something as long as you stop fighting. 

c. dont allow lynch mob or mob rules. move or motion through decision making. that must be prevented. everyone has right to have own opinion, not the right to do a verdict. 

Having the organization work well is mandatory

Marital law-

we had to lessen our degree of transparency. declared martial law. we entered a time when typical MO temporarily is suspended.

people that put what they want over the ideas. enemies of the system and get rid of them. the people that have power doesn't go by principles, the organization will fail. 

Only works when people in power value the principles. power and get what they want o

***greater good over your own interest. ***

Culture attracts some people. Steve jobs- we've gone to exceptional lengths to hire the best people in the world. most organizations are bad at recruiting. instead of focusing in what people are really like and how well they will fit into the role of that career. scientific process. 

organization's culture and the career path. get to know each other. honestly convey to them, be crystal clear about what you can expect from each other. interviewing process doesn't end when employment begins. getting in sync. 

constantly, train, evaluate people. 

access your own weakness most important factor in where people succeed. Hire people who understand this. Flourish at their jobs and don't micromanage them. If they can do the job, promote them. If they can't, get rid of them. 

Who is more important than the what. When you know what you need in a person to do the job well, you can visualize how things should go. quickly became clear that he didn't have an answer to who will oversee the machine that he had built. what qualities would person need to produce the results that he had? where would we go to recruit such a person?

-I like that I'm trying to figure myself out. 

Hire someone better than you. I understand that to be successful, a conductor of people. I would be able to find a conductor than me, and hire him and her. Watch beauty happen. How important the selection, sorting out of people is. 

Am I #1 or #2. I like being behind a cause I believe in. Every job was to get to my goal, earn money and learn about money. Did I learn about money, for sure. I had access to the information. What these people were, who were they, where did they live, how they acquired money. I have all this in my head. Reason why I decided to go into real estate. I kept seeing the pattern. 

Incompetent people trying to do things that they are not good at. 

they have to make their clients and responsibilities happy. person's job is unique, someone needs to hold them accountable at all times. 

forces- people and work certain ways. personally an organization. losing sight of who did what to produce them. who are the people behind the results and culture that made them special? 

Chapter 8- hire right, penalties to hire wrong are huge.   resume and interview. questions were unlikely to elicit answers to see what they were like. through our own 

Linear thinkers want to hire linear thinkers. We couldn't accurately succeed in our environment. we learned from our mistakes. improve 1. being crisp and clear on who we were looking for 2. much more granular level.

Pursue excellence. work as more than just what we do to earn a living. employees as someone who we want to share our lives with. 

Hiring is a high risk gamble. Clear whether or not it is a good fit. years and money can be wasted. loss of morale. people who aren't excellent in their roles bump into each other. Make someone an offer. Important things that might go wrong. 

Match a person to a design. Type of people you would need. Each person to do their job well. 

value and 

Principle 8:

skills- can be learned. 

values and principles: don't change. 

deep seeded values. abilities ways of thinking and behaving. others are fast learners. other think creatively. skills are learned tools. being able to speak a different language. most skills can be acquired in a limited amount of time. changing worth. important to know what mix of qualities are to fit in each role. successful relationships. values are most important. skills are least important.

Big Mistake: people look for skills first, values later. 

3 top things I look for: character, common sense and creativity. 

highly capable people that deeply want those things.

biggest theme is RESPONSABILITY.

Go to the doctor, still the healing is your responsability. 

hire someone that is wrong, your responsability.