Ray Dalio is founder of Bridgewater Associates, the largest hedge fund in the world. In his book Principles: Work and Life, Dalio shares the guiding principles powering his success and Bridgewater’s.
Principles is a master class in rational thinking. The main theme is that finding truth is the best way to make decisions, and that ego, emotion, and blind spots prevent you from discovering the truth. Dalio shares his major strategies to circumvent these weaknesses, including radical open-mindedness, thoughtful disagreement, radical transparency, and believability-weighted decision making.
In this Principles: Work and Life summary, you’ll learn:
How the rational you and the emotional you fight to control your life
How to get past your ego in pursuit of your goals
The 5-step process for getting what you want out of life
Why you need other people to improve your probability of being right
Are you feeling unmotivated in your job and life? Are you finding your current goals unsatisfying to work toward?
Drive, by Daniel Pink, believes that your work structure is to blame. Historically, employers have motivated employees through financial rewards and kept workers on a tight leash. These principles worked well when people were primarily working in assembly lines, but today’s creative work demands more: autonomy, mastery, and purpose.
In this Drive summary, you’ll learn:
Why financial rewards can lower your motivation and tempt cheating
How every human, including you, is motivated by autonomy, mastery, and purpose
Why some companies give unlimited vacation days and pay you to work on personal projects
Why paying people to donate blood actually reduces donation rate
How to convince your boss to adopt changes and give you more freedom
Want to motivate your employees and teammates to do a better job? Does your team seem unhappy, unmotivated, and distrustful of your organization?
In Carrots and Sticks Don’t Work, Paul Marciano argues that engagement stems from respect. Employees don’t want to be treated like cogs in a chain. Instead, they want to feel empowered, have autonomy, receive supportive feedback, and be treated considerately. Breaking any of these makes teammates feel disrespected, which causes motivation to plummet.
In this Carrots and Sticks Don’t Work summary, you’ll learn:
the major non-monetary components of what employees want
how to diagnose whether you’re a great or terrible manager
simple actions you can take today to engage your team