Ray Dalio on his Principles for Success

Can you think about, like, what are some of your first principles? Life is a journey. It's an adventure, an adventurous journey in which you come into it with having a certain nature. That nature, um, you're in a journey to find the path to match up with that nature.

It's like a video game in that you go for your goals. You have your setbacks. The fighting to succeed creates your learning. Your learning builds your skills; you become stronger, and you go on to higher levels. So it's that kind of a journey.

For me, the most important thing was meaningful work and meaningful relationships. Then, in order to be successful: radical truthfulness and radical transparency, so we can exchange ideas.

Then, in 1982, I crashed. I had a big mistake that was one of the best things in terms of giving me the epiphany. That gave me the humility I needed to balance with my audacity. What it did is it helped me understand that people can see things differently, and I can do a better job of, you know, also worrying about how I'm going to be wrong as well as being right.

Control risks better, and be open-minded. Because of that, um, that is the basis of my success.