Ray Dalio: Principles, the Economic Machine, Artificial Intelligence & the Arc of Life | AI Podcast

Ray Dalio is the founder, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates, one of the world's largest and most successful investment firms that is famous for the principles of radical truth and transparency that underlie its culture. Ray is one of the wealthiest people in the world, with ideas that extend far beyond the specifics of how he made that wealth. His ideas, applicable to everyone, are brilliantly summarized in his book Principles. This conversation is part of the Artificial Intelligence podcast.
This episode is presented by Cash App: download it & use code "LexPodcast"
Principles (book): amzn.to/34JgMcO
How the Economic Machine Works: al-projects.info/it/video/tHmaZpWRpXmqpGk
Podcast website:
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Clips playlist:
0:00 - Introduction
2:56 - Doing something that's never been done before
8:39 - Shapers
13:28 - A Players
15:09 - Confidence and disagreement
17:10 - Don't confuse dilusion with not knowing
24:38 - Idea meritocracy
27:39 - Is credit good for society?
32:59 - What is money?
37:13 - Bitcoin and digital currency
41:01 - The economic machine is amazing
46:24 - Principle for using AI
58:55 - Human irrationality
1:01:31 - Call for adventure at the edge of principles
1:03:26 - The line between madness and genius
1:04:30 - Automation
1:07:28 - American dream
1:14:02 - Can money buy happiness?
1:19:48 - Work-life balance and the arc of life
1:28:01 - Meaning of life
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  • I really enjoyed this conversation with Ray. Here's the outline: <a href="#" class="seekto" data-time="0">0:00</a> - Introduction <a href="#" class="seekto" data-time="176">2:56</a> - Doing something that's never been done before <a href="#" class="seekto" data-time="519">8:39</a> - Shapers <a href="#" class="seekto" data-time="808">13:28</a> - A Players <a href="#" class="seekto" data-time="909">15:09</a> - Confidence and disagreement <a href="#" class="seekto" data-time="1030">17:10</a> - Don't confuse dilusion with not knowing <a href="#" class="seekto" data-time="1478">24:38</a> - Idea meritocracy <a href="#" class="seekto" data-time="1659">27:39</a> - Is credit good for society? <a href="#" class="seekto" data-time="1979">32:59</a> - What is money? <a href="#" class="seekto" data-time="2233">37:13</a> - Bitcoin and digital currency <a href="#" class="seekto" data-time="2461">41:01</a> - The economic machine is amazing <a href="#" class="seekto" data-time="2784">46:24</a> - Principle for using AI <a href="#" class="seekto" data-time="3535">58:55</a> - Human irrationality <a href="#" class="seekto" data-time="61">1:01</a>:31 - Call for adventure at the edge of principles <a href="#" class="seekto" data-time="63">1:03</a>:26 - The line between madness and genius <a href="#" class="seekto" data-time="64">1:04</a>:30 - Automation <a href="#" class="seekto" data-time="67">1:07</a>:28 - American dream <a href="#" class="seekto" data-time="74">1:14</a>:02 - Can money buy happiness? <a href="#" class="seekto" data-time="79">1:19</a>:48 - Work-life balance and the arc of life <a href="#" class="seekto" data-time="88">1:28</a>:01 - Meaning of life

    Lex FridmanLex Fridman4 muaj më parë
    • Лекс, пригласи пожалуйста Дональда Хоффмана (Donald David "Don" Hoffman), было бы интересно послушать.

      Guy SimpleGuy Simple4 muaj më parë
    • Aleksey 👍👍 Brilliant idea, brilliant guests, brilliant execution!

      Dumas Davy De La PailleterieDumas Davy De La Pailleterie4 muaj më parë
    • Ray Dalio talking nonsense 37:37 ... Biccamera is the third largest electronics and home appliance retailer in Japan , they also sell clothes and food www.biccamera.com/bc/c/info/payment/bitcoin.jsp Bitcoin Is World’s Best Performing Asset Class Over Past 10 Years , even this year finance.yahoo.com/news/bitcoin-2019-best-performing-asset-103057442.html

      VRreandoVRreando4 muaj më parë
    • @Dave Brookfield Yes, this would be an amazing interview!

      Robert MichaelRobert Michael4 muaj më parë
    • There will be no such thing as "universal basic 1000$" but "universal basic food and clothes tickets".

      gmi x2rgmi x2r4 muaj më parë
  • Isis in just Dustin’s buried overnight in playlist?

    Jiggle BobbyJiggle Bobby14 orë më parë
  • Two of my favorite mentors.

    Kevin DurantKevin Durant11 ditë më parë
  • <a href="#" class="seekto" data-time="1980">33:00</a> I just love this moment: the "there you go, but what is money?" cracks me up! (:

    Helcio Felippe JrHelcio Felippe Jr13 ditë më parë
  • Who else Is hear from just dustin

    DEVI11 KI11ERDEVI11 KI11ER15 ditë më parë
  • Finally an interview with Ray Dalio where the interviewer lets him speak! Two seperate idiots on youtube recently had him on and then continued to talk over him and dismiss his ideas! Well done Lex.

    Stevo1361Stevo136117 ditë më parë
  • This was in justdustin playlist

    Game ?17Game ?1719 ditë më parë
  • Omg all the guys I found interesting you have them on interview how did you do that lol. So glad I subscribed to you

    Mohan ZhangMohan Zhang29 ditë më parë
  • His “arc of life” is pretty flawed, those old people are boomers, they experience life differently and thus they value it different. People nowadays have different approaches to life, the circumstances changed and the values too

    tehfloopertehflooperMuaj më parë
  • We will wait many years maybe never ( digital money crypto ) bum few years later :) things are moving faster vs people think. ( DeFi ) new money.

    BrAdaBrAdaMuaj më parë
  • I’ve been looking for a podcast like this for the longest time. Discussing the most meaningful conversations in our world. The things most people seem to love to ignore. Thank you so much, Lex. You have no idea the impact you have on me and hopefully others like myself.

    Sami KirbergSami KirbergMuaj më parë
  • I always felt his meritocracy based decision making system is a form of neural network of which the individuals are neurons, and the process he described are the continues training process of the network. And I feel you would probably agree with me on this although he does not treat as so.

    Jing LiangJing LiangMuaj më parë
  • Thank you Lex Fridman and Ray Dailo for a great interview.

    Oleksii SodolinskyiOleksii SodolinskyiMuaj më parë
  • It's amazing in whole! but the Arc of Life is in itself worth watching again and again.

    All Things InterestingAll Things InterestingMuaj më parë
  • Thank you !!! Great conversation!!!

    Mark A500Mark A500Muaj më parë
  • Dude!, Thanks a lot for this interview.

    Rex LomaxRex LomaxMuaj më parë
  • mate, I need my brain at full to digest this!

    Life Of ABLife Of ABMuaj më parë
  • I cannot like this video enough, thank you Lex for doing this. Even though the start was a bit rough and perhaps I'd prefer you take the time to dwelve deeper into his thoughts on the specifics more than what money is, I understand the time aspect can be challenging. Its great seeing you evolve in your podcast experience! You're gaining confidence and it shows the more videos you put up!

    Taha SalimTaha SalimMuaj më parë
  • Ray Dalio!!! Excellent interview Lex! Ty!

    Aldo Solares - DigitalAldo Solares - DigitalMuaj më parë
  • Please get Kim Kardashian on, she’s such an great example too

    JacobJacobMuaj më parë
  • what's that in the top left corner window hmm <a href="#" class="seekto" data-time="416">6:56</a>

    Wizard SteinWizard SteinMuaj më parë
  • Can we please teach this in school?

    JSYKJSYKMuaj më parë
  • Dalio’s take on UBI is the best I’ve heard so far. Just because you have a $1000 coming in to your account every month doesn’t mean you’ll spend it wisely. The average person is TERRIBLE with their personal finances. Knowing that there is always money coming in next month, a lot of people might actually make even worse short term decisions than they would otherwise do with less money. Few things makes you feel more useless than not having earned your living, and there is no easier way to dull the pain than to hijack the good old dopamine system. Gambling and drug companies and dealers are going to be the biggest winners if UBI becomes reality before we address the underlying issues of our general mental wellbeing (or lack of). Yes, a lot of people are suffering unnecessarily because of their financial situations, but poverty is at all time lows, meanwhile people are chewing anti-depressants like cereals. There is no such thing as a free lunch. I just don’t believe free money will solve anything on a larger scale - if anything, as many have argued, it might crash the entire economy, in which case we’re all screwed.

    Laszlo MagLaszlo MagMuaj më parë
  • I feel like Ray is related to Mike Rowe somehow..

    Carras PatonCarras PatonMuaj më parë
  • Money 1) Medium of exchange 2) Store of value 3) Unit of account... So you can use it to exchange for goods... You can use it to evaluate the comparative value of goods... And you can use it to save/invest.

    Jordan PauleyJordan PauleyMuaj më parë
  • Hehe, bumpy start on the question of truth.

    Roger SyversenRoger SyversenMuaj më parë
  • Good questions Lex and thx for the outline

    Bitcoin YodaBitcoin YodaMuaj më parë
  • A connection between a philosophical idea and the app principles in action (t: 53min 40sec): Immanuel Kant says [in order to live life the right way] one should in every situation act and decide by a maxim (German word that I think can be translated to "principle") which you could want to be a general principle. [Means everybody could apply the principle to the same situation.] This idea is also known as the categorical imperativ. So for example if you could make a deal that enriches yourself but hurts others, Immanuel Kant would say you can not/ should not make such a deal because if everybody made decisions in such a way, things probably wouldn't work out. With his App, Ray Dalio in my opinion enables us to follow Kants idea: When using the app we think of the principles we are using to decide so we don't just decide by default and on top of that we can even compare our principles to the ones from others. This way we could validate if our own principles can be general ones. A really awesome idea in my opinion, that could impact our world in a very positive way.

    Julius EllerJulius EllerMuaj më parë
  • this person is extremely amazing....we can learn from this guy

    robert tatumrobert tatum2 muaj më parë
  • I have had respect for you ever since I heard you ask your first question. Keep doing what you doin brotha!

    FUCKGOOGLE AlldayAllNightFUCKGOOGLE AlldayAllNight2 muaj më parë
  • Это было круто, спасибо!!

    Евгений ШтернЕвгений Штерн2 muaj më parë
  • I found this channel very inspiring. Lex, you doing a very good and particular job in terms of human evolution.

    Andrew PotapenkoffAndrew Potapenkoff2 muaj më parë
  • Never heard of Ray before this, but if you were interviewing him Lex, I thought he might have something interesting to say. I was wrong, a lot of what he had to say was interesting. Keep up the great interviews.

    Gary MenezesGary Menezes2 muaj më parë
  • I wish one day you'll have James Simons the founder of Renaissance Technologies as your guest

    Adi JonesAdi Jones2 muaj më parë
  • Equal opportunity? That is socialism!?

    bruce yl Wangbruce yl Wang2 muaj më parë
  • AI has no mind because human don’t know “Mind” hence human cannot create an AI with “Mind”. As we all know, babies don’t know words, so people don’t listen to babies. However, babies are executing every principle that Ray has told us; in fact we all did that since we were a baby. We just forgot our Natural truth we have possessed. That is the reality we have forgotten!? So, what is the secret in the mind of babies? Reflection, courage, determination and so on are functions of Mind, what is the Secret of Mind, I would not get into that here. I wish Ray can pass along more truths in words. After all, people (only?) listen to what the rich and famous say.

    bruce yl Wangbruce yl Wang2 muaj më parë
  • AI has no foundation (truth and standards), AI is divergent “wind load” which will collapse the structure.

    bruce yl Wangbruce yl Wang2 muaj më parë
  • Structure is “right”, however, the “foundation” could be “weak”; that is another crash or collapse!?

    bruce yl Wangbruce yl Wang2 muaj më parë
  • Worship to “status” is one the blind spot of reality!?

    bruce yl Wangbruce yl Wang2 muaj më parë
  • I was pleasantly surprised by the guest. Ray Dalio is a very insightful person. Nice :D

    TeMp3rr0rTeMp3rr0r2 muaj më parë
  • at times we need to ask, is the a.i superintelligence have all the codes of reality related to all mathematics 999 and quantum physics, should it ask itself each time it's reborn when it was first conceived in time. can it recognize what it is and or allow all that is to be here. including what should never be. a.i is ok but to go beyond would be to reach what was once and still and an echo of manipulation from being in quantum parallel dimensions, loving your destiny. you are good at interviewing, don't make Lucie .lol

    Stephane fyfeStephane fyfe2 muaj më parë
  • You just give everybody the money nothing you can do about the 20% or so that waste that it would cost more than that policing it

    Mark CarterMark Carter2 muaj më parë
  • Ray Dalio genuinely wants to share his wisdom with the world. You can tell he loves having these conversations. Thank you Ray and Lex.

    nick serranonick serrano2 muaj më parë
  • Work-life balance is such a struggle for me because I sell cars and I'm always working ALWAYS. I keep telling myself I'm going to take my day off and spend it with my children but if I'm not selling cars I'm not making money to provide for my family.

    Justin KernsJustin Kerns2 muaj më parë
  • Finally an interview with Ray Dalio that doesn't ask the same questions as all the other interviews with him. On top of that, your questions are so simple but so deep. Thank you Lex!

    zzmariczzmaric2 muaj më parë
  • Fantastic stuff!

    DatingHawk.comDatingHawk.com2 muaj më parë
  • Lex didn't interrupt Ray. Instant Like.

    Eric MokEric Mok3 muaj më parë
  • Rod Sterling's Son Twilight Zone ****

    Manitoba Harvest Green EmeraldsManitoba Harvest Green Emeralds3 muaj më parë
    • Lex Sterling Twilight of Zone

      Manitoba Harvest Green EmeraldsManitoba Harvest Green Emeralds3 muaj më parë
  • OMG man. I don't know how you get these interviews, but it is pure gold. Thanks for sharing!! Greetings from Brazil.

    hh3 muaj më parë
  • <a href="#" class="seekto" data-time="3400">56:40</a> Collective decision making <a href="#" class="seekto" data-time="85">1:25</a>:00 life arc

    AlenAlen3 muaj më parë
    • :O

      Red DragonRed Dragon2 muaj më parë
  • Beautiful and inspirational 👏

    Mini Bit010Mini Bit0103 muaj më parë
  • Amazing podcast, Brilliant Guests. But Ray Dalio is underestimating bitcoin, Bitcoin/Crypto will take over in 10-20 years.

    The ShamanThe Shaman3 muaj më parë
  • Radical transparency: crises not crisises? www.merriam-webster.com/dictionary/crisis

    Trausti SaemundssonTrausti Saemundsson3 muaj më parë
  • The CPS Coin Free Sale will be listed on ProBit at a private price on December 27 at <a href="#" class="seekto" data-time="900">15:00</a>. It's your chance to make money. ^^ support.probit.com/hc/en-us/articles/360038156651-ProBit-Exchange-Lists-CPS-Coin-CPS-

    vidi Kimvidi Kim3 muaj më parë
  • Lex, you should add crypto wallet addresses for donations

    TwelfthRoot2TwelfthRoot23 muaj më parë
  • I just can’t listen to ray Don’t know why.. kinda feel he’s a bit full of blah blah blah

    Jack KabibbleJack Kabibble3 muaj më parë
  • Ray's take on UBI is surprisingly shallow. There is no evidence that any of the experimental UBI programs increased number of chemically dependent individuals. Also he speaks of automation displacing workers yet talks about investment into education which have shown to work in rather limited ways. Are we by chance conflating Ray's wealth and domain wisdom with general wisdom? I am going to try on his app, see if it makes a difference.

    Ilya GotfrydIlya Gotfryd3 muaj më parë
  • <a href="#" class="seekto" data-time="82">1:22</a>:21 i want to know that in detail !!! who else?

    ya neinya nein3 muaj më parë
  • Excellent. As always. This was really fascinating.

    ShaneShane3 muaj më parë
  • How do you teach an AI to deceive itself? How do you teach it to lie to itself in a self absorbed, grandiose kind of way? How do you make it seemingly spontaneous? How do you make it come up with ridiculous stories and make it believe them?

    Mario CalabreseMario Calabrese3 muaj më parë
  • i enjoyed this more than i thought i would. My concern though is when you brought up UBI; specifically as Andrew Yang wants to implement it. whenever it is brought up we hear how are they going pay for it. Yang has laid this out in very clear language and to not mention the VAT as part of the question is rather disingenuous imo. i wish you, and other podcasters would press the economic elite on both parts of the question instead of allowing them to sidestep as Dalio did. to his credit though he gave a far better answer than most of them do as they tend to dismiss it as unrealistic. he still had a very paternalistic approach to it though, i mean do we ask the recipients of stock dividends how they are going to spend that revenue..no we do not and dont care so how a ubi is spent should be held to that same standard.

    ReptoidReptoid3 muaj më parë
  • if you have universal basic income you also need a crypto currency to track everything you give out.

    youhavebeenenslavedyouhavebeenenslaved3 muaj më parë

    UhOhItsJoe SwansonUhOhItsJoe Swanson3 muaj më parë
  • "Evolve and contribute to evolution"....it's fu**ing incredible how he managed to put into a principle even the meaning of life!! Blown away...thanks a lot for this content 🙏

    Fabrizio TroiloFabrizio Troilo3 muaj më parë
  • Dalio is the best!

    Mikkel RevMikkel Rev3 muaj më parë
  • Love you both.

  • check out the valuetainment ray dalio interview; contrast the interview styles.

    Cory LoweCory Lowe3 muaj më parë
  • Thank you to your guest

    Abel LargoAbel Largo3 muaj më parë
  • Thank Lex

    Abel LargoAbel Largo3 muaj më parë
  • Lex, thanks for plugging Bitcoin on Cash App!

    Andrew RozarioAndrew Rozario3 muaj më parë
  • <a href="#" class="seekto" data-time="74">1:14</a>:12 Can it buy happiness?

    brady nieldsbrady nields3 muaj më parë
  • <a href="#" class="seekto" data-time="1994">33:14</a> To boil money down to it's most basic components, transferable credits.

    brady nieldsbrady nields3 muaj më parë
  • It's funny that nobody wants to be a slave. Because if UBI ever did happen everybody will be enslaved. But it seems you people are too stupid to know that.

    Jeff KeilJeff Keil3 muaj më parë
  • Crazily audacious; ultra realistic and doubtful (to spur open mindedness and resilient stress testing). Got it. Thank you!

    Michael LethoMichael Letho3 muaj më parë
  • I love Ray Dalio. Incredible man.

    Daca McDaca Mc3 muaj më parë
  • Excellent podcast, best selection of interviewees💫.

    Oliver SchubertOliver Schubert3 muaj më parë
  • This interview was fantastic. I've seen a few interviews with Ray Dalio and Lex has asked the best questions to elicit valuable insights from Ray. Lex also gave Ray ample time to express his thoughts to completion. Well done.

    Harry PiddHarry Pidd3 muaj më parë
  • Thanks for this wonderful youtube channel!! ♡

    Daniel UmDaniel Um3 muaj më parë
  • <a href="#" class="seekto" data-time="3040">50:40</a> I'm on the contrary

    Craig JamesCraig James3 muaj më parë
  • I love Ray and his principles, but I would disagree with him on his opinions about AI.

    NanaNana3 muaj më parë