Ray Dalio

Getting the right people in the right roles in support of your goal is the key to succeeding at whatever you choose to accomplish.

1+1=3. Two people who collaborate well will be about three times as effective as each of them operating independently,

The people who work for you should constantly challenge you,

Make believability-weighted decisions. ...
Operate by principles ... that are so clearly laid out that their principles can be easily assessed and you and others can see if you walk the talk.

Getting a lot of attention for being successful is a bad position to be in.

Don’t let the little things divide you when your agreement on the big things should bind you.

Money is a byproduct of excellence, not a goal.

I believe that the key to success lies in knowing how to both strive for a lot and fail well. By failing well, I mean being able to experience painful failures that provide big learnings without failing badly enough to get knocked out of the game. This way of learning and improving has been best for me because of what I’m like and because of what I do. I’ve always had a bad rote memory and didn’t like following other people’s instructions, but I loved figuring out how things work for myself. I hated school because of my bad memory but when I was twelve I fell in love with trading the markets. To make money in the markets, one needs to be an independent thinker who bets against the consensus and is right. That’s because the consensus view is baked into the price. One is inevitably going to be painfully wrong a lot, so knowing how to do that well is critical to one’s success. To be a successful entrepreneur, the same is true: One also has to be an independent thinker who correctly bets against the consensus, which means being painfully wrong a fair amount. Since I was both an investor and an entrepreneur, I developed a healthy fear of being wrong and figured out an approach to decision making that would maximize my odds of being right.