Life Principles by Ray Dalio - Animated Book Review
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Life Principles by Ray Dalio
there was a man born in Atlanta Georgia
1929. He was raised in a racially
segregated society. He grew up to lead
numerous campaigns against racial
segregation, including the Montgomery bus
boycott after Rosa Parks refused to give
up her bus seat to a white man. To the
march on Washington, where he spoke the
immortal words I have a dream. Martin
Luther King embodies the first of Ray
Dalio principles. Which is embrace
reality, and deal with it. Moving from
an idealist to a hyper realist will let
you see things for what they are. If you
only see things for what they should be,
you'll miss the opportunity to change.
Now, this principle isn't just for the
external world. It's also a principle to
use on yourself. If you're not a realist
about who you are, how can you identify
opportunities for you to become better?
Now ray likes to apply algorithms to his
principles to live by. The algorithm for
this principle is: dreams plus reality
plus determination equals a successful
life. Martin Luther King saw the dream of
equality, understood the reality of
segregation, and had the determination to
change it. And now her success is
immortalized around the world.
There was this company founded in 1888
who grew to dominate the photography
industry during the 1900's. 1981 marked
the beginnings of the digital
photography era, and this company was
well aware of it. Leading research into
the field. In fact in 1986 this company
produced the first in megapixel camera.
However, the executives of this company
decided to stay true to traditional
photography. Failing to see digital
cameras as the disruptive technology of
the future. This company is Kodak, and in
1997 they had a market value of 30
billion dollars. In 2012 the company
filed for bankruptcy and today, in 2018,
the value of the company is 200 million
dollars. Just 0.7 percent of its 1997
high. The Kodak moment used to be
something worth capturing forever, but
now I think of it as the failure to
adapt and the associated consequences
the second aspect of this embrace
reality and deal with the principle is:
evolve or die. Evolving as life's
greatest accomplishment, and its greatest
reward. But trust me. Sometimes evolution
doesn't feel good. You have to get
outside of your comfort zone.
Do you ever have those moments where you
look down and you're eating a whole tub
of ice cream? Or maybe you eat a few too
many slices of cake? and suddenly you
think to yourself oh my god! Why did I
let myself eat all that cake? This is a
situation where your emotional
unconscious mind won a fight against
your rational conscious mind. Your ego
also resides in this unconscious part of
your brain, acting as a subliminal
defense mechanism that makes it hard to
accept mistakes, weaknesses, and being
wrong. And so this causes a constant
struggle between your to you's. The
conscious you, and the unconscious you.
Now imagine you're having a conversation
with someone and you disagree with them.
And you're having this struggle going on
0:04:05.640,0:04:10.170
inside of you, with your rational mind
thinking play it cool. And your ego
trying to burst out and yell at the
other person because you can't be wrong.
And then think about the other person
who's in the exact same fight between
their conscious then and unconscious
them. Because both of you want to be
reasonable but neither of you want to be
wrong. And even after you've finished
arguing with them, you both walk away
thinking you were right and the other
person was wrong. Which leads us to Ray's
2nd principle: be radically open-minded
the algorithm that's associated with
this principle is pain plus reflection
equals progress. You need to recognize
your two barriers: your ego, and your
blind spots you cannot let your need to
be right be more important than finding
out what is true. When you come out of
those arguments and reflect on them
you'll find that you're able to be more
analytical and less emotional next time
you enter a similar situation. Part of
being radically open-minded as learning
to appreciate the art of thoughtful
disagreement. When we think about the
previous example of two people arguing
and both walking away thinking
they were right, there's something
fundamentally wrong with that picture.
When two people disagree one of them is
typically wrong. And in this quest for
finding out what is true it's incredibly
important to find out if you were wrong.