- Ray Dalio, the founder of the successful hedge fund Bridgewater Associates, has launched a free app based on his best-selling 2017 book, “Principles.”
- The app, Principles in Action, has a section called “Case Studies” with 21 self-assessment quizzes.
- The quizzes are designed to see how you’d fare working for Bridgewater, but they’re also made to help you understand your personality in a workplace context.
- Visit Business Insider’s homepage for more stories.
Thanks to Ray Dalio’s new app, I know that I have a deep-rooted fear of failure and a fear of not succeeding (and apparently, those are two very different things).
The app, Principles in Action, contains several features, but the most interactive one is the “Case Studies” section, which is made up of 21 self-assessment quizzes about life in the workplace. I tried out two of these quizzes and answered challenging questions about failure and radical open-mindedness.
The app is based on Dalio’s 2017 best-selling book, “Principles.” The book compiled everything Dalio learned from founding and running Bridgewater Associates, the largest hedge fund, which has more than $US150 billion in total assets under management. Now the Principles in Action app lets users have the entire “Principles” book for free.
Here are some of the surprising things I learned after trying out the case studies:
One of the case studies is about “radical open-mindedness,” or the ability to keep your mind as open as possible to new ideas and ways of thinking.
The first question was a straight-forward one for me. I consider myself fairly hardheaded when it comes to decision-making (unless I’m trying to figure out what to have for dinner).
As a journalist, I try to be as open-minded as possible when it comes to the news, considering the content from a news outlet before the name of the outlet itself.
Being a good listener takes years and years of practice — I personally don’t think I’ll ever strongly agree with this statement, simply because the title “good listener” is nearly unattainable for most people.
I usually don’t get emotional during disagreements, but I’m only human, so I chose No. 2.
My inner mansplainer unfortunately has some life left in him. Though I’ve realised I still often share unasked-for opinions all the time, I’ve taught myself to lower my voice and admit that I may be wrong when I can.
If I know I have a controversial opinion (for example, I have no clue how “Game of Thrones” rose to its nearly hysterical level of popularity), I keep it to myself, especially when I know I may offend someone — so yes, apologies to all Jon Snow fans out there.
Journalists ask questions for a living. But in my free time, I make statements more often, so in this case, I’m somewhere in between the two.
I know I’m biased, as is everyone, so I wouldn’t believe anyone who would choose No. 5 on this one.
Everyone on the face of the earth has the capacity to be more open-minded. I don’t think anyone is totally open-minded, so I chose the next best option.
This is Dalio’s take on radical open-mindedness and a reminder that “I’m right” isn’t the best way to enter a discussion.
Out of the other case studies, the title “I Constantly Fail” immediately caught my eye. Failure is one of the scariest things people face at work, and it happens all the time. So I decided to see what Dalio had to say about the subject.
Most of the app’s quizzes involve a situation that really happened at Bridgewater — in this case, Dalio sent an email to his company in 2010 with the subject line, “I constantly fail.”
In my head, I know that failure is an everyday obstacle — but in my heart, I know I want to avoid it at all costs, so I fell in the middle with this question.
After much thought, I found both of these prospects equally terrifying. Perhaps if I really had to choose, I’d be more afraid of not succeeding.
Perhaps I overstated this one, but I had just come from a very intense question after all. However, I know I have a lot to learn about the field I work in, so naturally I’m not overconfident.
Once again, I’m not a veteran reporter just yet, and I know I have a lot to learn. Sometimes that learning has to happen in a short amount of time (say, while I’m on deadline).
My approach to failure at the moment is not nearly as self-assured as Dalio’s. Failure remains a terrifying, visceral thing for most people, and I’m no different. Still, I’ve never lost sleep over a workplace failure (yet).
After taking two of Dalio’s case-study quizzes, I started scrolling through some more of his principles on the app. I found this one: “Learn from success as well as failure.” While it may sound obvious, positive experiences at work are a great way to figure out what you’ve done right. While fear of failure keeps me wanting to improve myself, I have to remember that success is also a learning tool.
Business Insider Emails & Alerts
Site highlights each day to your inbox.