yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Ray Dalio & Bill Belichick on Picking People: Part 1


2m read
·Nov 8, 2024

So, picking people, that's what we're on. Tell me about it.

Well, I think that's the number one thing, is to try to get it right on the way in the door. Um, and you know, understanding what you need, um, and what you're looking for. So, um, as we like to say, um, if you don't know where you're going, any road will take you there.

So, we try to define the path of what we're looking for in terms of the traits, the athletic qualities, the competitiveness, and so forth, um, know by position to identify that, and then try to select those people that we feel like will fit into our culture and into our program.

Um, because it's so hard to change them if they don't have those qualities. It's really hard to, uh, you know, you can mold a little bit, but it's hard to fundamentally change selfish to unselfish, as an example. So, um, that's really the selection part of it that is really important for us at the beginning.

And, um, in our business, we start with 90 players, uh, and then we go to 53. So, 37 players get fired every year. Um, and one of the things that I learned from Jack Welch, uh, one of his great axioms was treat them the same way on the way out as you treat them on the way in.

You're happy to have them on the way in, you love them on the way in. If it doesn't work out, you feel the same way about them on the way out. I mean, unless there's been some extraordinary circumstance. But sometimes it just doesn't work out where you have to move on, and it's probably your fault as much as it is anybody else's because you didn't select the right person.

But in the end, you know, we move on and treat them the same as the way in, as a way out. But the selection process at the beginning really is the key to, I think, building the culture and building the organization that you want.

More Articles

View All
Charlie Munger's 6 Secrets for a Successful Life
And another thing that people do, like bear guard is amazing, is they build these enormous mausoleums. I think they figure they want people to walk by that mausoleum and say, “Gosh, I wish I were in there.” Let me tell you another story that I think is a…
Dividing by 0.1 and 0.01
Let’s say we’re trying to figure out what 2 divided by 1⁄10 is. So, pause this video and see if you can have a go at that. All right, now there’s a couple of ways that we could approach this. We could just try to think of everything in terms of tenths si…
Brie Larson Eats a Rhino Beetle | Running Wild With Bear Grylls
So were you kind of adventurous when you were growing up, or– I wanted to be Indiana Jones when I was younger, but then– Really? –I also was super shy. And were you like, sporty? No, not at all. BEAR GRYLLS: So what, more geeky? I was super geeky. …
BREAKING: Federal Reserve Announces Upcoming Rate Cut! (Major Changes Explained)
What’s up guys, it’s Graham here and without exaggeration, we’re probably about to witness one of the craziest moments in history. For example, even though the Federal Reserve just announced another rate pause a few hours ago, the market believes that we …
Most People Don't Know How Bikes Work
Most people don’t know how bicycles actually work. [Off screen] Let’s try it again. So we modified this bike to prove it. This video was sponsored by KiwiCo. More about them at the end of the show. When you’re riding a bike and you want to turn left, …
Pros and Cons of Stocks vs Real Estate: Is one better than the other?
What’s up you guys? It’s Graham here. This is a question I get asked a lot: Is it better to invest your money in the stock market or put your money in real estate? This is a topic that people get so opinionated over. Some people, they love the ease and th…