Ray Dalio on Business Quotes

"To be effective you must not let your need to be right be more important than your need to find out what's true."

"A company is a group of people working together to achieve a mission."

"Every problem you encounter is an opportunity to improve your machine."

"Radical transparency is the only way to get to the truth."

"Pain + Reflection = Progress."

"The greatest tragedy of mankind is people having opinions that are wrong."

"Build the organization from the top down."

"The more you know what you don't know, the better off you are."

"Productivity is the engine of the economy."

"If you're not worried, you need to worry; and if you're worried, you don't need to worry."

"Make sure that people don't confuse opinions with facts."

"Most people are more interested in being right than in finding out what is true."

"Identify the problem and don’t tolerate it."

"Look at the patterns of mistakes to see if they are systemic."

"Managing is like being the designer and operator of a machine."

"Hire right, because the penalties of hiring wrong are huge."

"Don't hire people just to fit the first job they will do; hire people you want to share your life with."

"A business is a machine made of two parts: culture and people."

"Badly run organizations spend most of their time dealing with problems."

"In an idea meritocracy, the best ideas win, no matter where they come from."

"Successful people are those who can go above themselves to see things objectively."

"If you don't fail, you're not pushing your limits, and if you're not pushing your limits, you're not maximizing your potential."

"The most important thing you can do is to think for yourself while being open-minded."

"Evolution is the single greatest force in the universe."

"Create a culture in which it is okay to make mistakes and unacceptable not to learn from them."

"Money is just a medium of exchange; it is not the goal."

"A great manager is an organizational engineer."

"Weaknesses don't matter if you find solutions for them."

"Great partnerships come from sharing both values and interests."

"An organization is the opposite of a mob."

"Be radical in your quest for the truth."

"Find the most believable people who disagree with you and try to understand their reasoning."

"Distinguish between you as the designer of your machine and you as a worker with your machine."