GC Mouli's Blog

Idea meritocracy

Was listening to this awesome podcast from the Knowledge Project (of Farnam Street fame) with Ray Dalio, where he talks about idea meritocracy. Found it fascinating. Such clarity in thought.
"There are two things that one needs to do to be successful in anything. 1) Take the right decisions, and 2) Have the courage to execute on these decisions."
Ray, then talks about how he makes decision. Over the years (he has been running Bridgewater Associates, one of the largest hedge funds in the US), he has developed an algorithm on how he makes decisions. He also writes in what he calls a decision journal, where he documents the criteria for making the decision, information that he takes, and his process to take the decision. One of the things that he talks about is idea meritocracy. Some of the key points that I understood were - I think, I will definitely read his book - where he outlines a lot more. And will update here then.