Learn The MOST IMPORTANT Skills To Be SUCCESSFUL In The 21st Century | Ray Dalio & Jay Shetty

Last updated: Jun 1, 2023

The video is an interview between Jay Shetty and Ray Dalio discussing the importance of self-awareness and reflection in achieving success in the 21st century.

The video features an interview between Jay Shetty and Ray Dalio, where they discuss the most important skills to be successful in the 21st century. They talk about the importance of aligning emotions and intellect, and how self-awareness can lead to personal growth and transformation. They also discuss Ray's new journal, "My Principles," and how it can help individuals reflect on their values and beliefs. The conversation touches on topics such as fear, clarity, and the importance of having a taste for adventure. Overall, the video provides insights and advice on how to navigate the complexities of the modern world and achieve success.

  • Self-awareness and reflection are important for success in the 21st century.
  • Ray Dalio's new journal, "My Principles," provides self-awareness and reflection to align feelings and thoughts.
  • Ray Dalio has developed clarity over time and has a superb memory within a context or story.
  • Nervous excitement is better than fear because it leads to growth and development.
  • Reflection and self-awareness help individuals make better decisions, learn from mistakes, and grow.
  • Journaling helps to achieve clarity, deal with reality, and communicate better with others.
  • Equanimity and control are necessary for dealing with reality, and acceptance and desire are necessary for achieving balance.
  • Ray Dalio's personal journaling practice helped him communicate better with employees and create an app called Principles in Action.
  • The interactive journal attached to the app has better prompts, exercises, and a QR code for saving and analyzing data.
  • Journaling is a way of life and can be combined with videos and cases to create a reality TV-type experience.

Learn The MOST IMPORTANT Skills To Be SUCCESSFUL In The 21st Century | Ray Dalio & Jay Shetty - YouTube

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Introduction

  • The importance of self-awareness and reflection in achieving success in the 21st century.
  • The purpose of the interview is to discuss Ray Dalio's new journal called "My Principles".
  • The journal provides self-awareness and reflection to help individuals align their feelings and thoughts.
  • The interview is conducted by Jay Shetty, the host of the number one Health and Wellness podcast on purpose.
  • The interview aims to provide insights, ideas, and principles that can transform an individual's life.
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Ray Dalio's Clarity

  • Ray Dalio has the ability to be clear about the language he uses and the emotions he expresses.
  • Clarity is something that Ray Dalio has developed over time.
  • Ray Dalio has a superb memory of how things transpire within a context or a story.
  • Ray Dalio was born with a superb memory, but it only works within a context or a story.
  • Ray Dalio has a lousy rope memory, which means he is terrible at memorizing things without a reason.
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Dealing with Fear

  • Ray Dalio tends to feel nervous excitement rather than fear when meeting someone new.
  • Ray Dalio has a taste for adventure, which makes him excited about new experiences.
  • Ray Dalio believes that nervous excitement is a great refinement.
  • Ray Dalio thinks that nervous excitement is better than fear because it leads to growth and development.
  • Ray Dalio believes that nervous excitement is a sign of ambiguity and a taste for adventure.
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Learn The MOST IMPORTANT Skills To Be SUCCESSFUL In The 21st Century | Ray Dalio & Jay Shetty - YouTube

Reflection and Self-Awareness

  • Reflection and self-awareness are essential for success in the 21st century.
  • Reflection and self-awareness help individuals align their feelings and thoughts.
  • Reflection and self-awareness help individuals make better decisions.
  • Reflection and self-awareness help individuals learn from their mistakes.
  • Reflection and self-awareness help individuals grow and develop.
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Importance of Reflection

  • Ray Dalio developed the principle of pain plus reflection equals progress.
  • He would pause and reflect whenever he made a decision, especially if it was a painful one.
  • Reflection helps to gain clarity and calmness after a storm or an adventure.
  • Writing down reflections in a journal helps to achieve clarity.
  • Reflections help to deal with reality and influence it based on reactions.
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Meditation and Reflection

  • Meditation helps to be calm and see clarity.
  • Reflection helps to deal with circumstances well.
  • Accepting reality is important because life comes at you and you can't change it.
  • Reflections help to tell you something about reality and how to deal with it.
  • Acceptance and the desire to influence are important for achieving balance.
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Equanimity and Control

  • Equanimity is important for dealing with things coming at you.
  • Being hijacked by emotions produces bad results.
  • Learning equanimity is like learning not to put your hand on a hot stove.
  • Acceptance and control are both necessary for dealing with reality.
  • Desire and acceptance are both necessary for achieving balance.
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Dealing with Reality

  • Accepting reality is important because it is what it is.
  • Dealing with reality requires a combination of acceptance and control.
  • Equanimity is important for dealing with things coming at you.
  • Reflections help to deal with reality and influence it based on reactions.
  • Acceptance and the desire to influence are important for achieving balance.
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Benefits of Journaling

  • Journaling helps you navigate reality by identifying resources and seeking help.
  • Journaling provides a way to deal with reality while still being self-aware.
  • Journaling helps you communicate better with others.
  • Journaling allows you to write down your decision rules for the markets and go back to test them.
  • Journaling helps you gain perspective on decision-making by looking at past experiences.
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Ray Dalio's Personal Journaling Practice

  • Ray Dalio started journaling about 25-30 years ago when he was building his company.
  • He started journaling because he needed to communicate better with his employees and write down his decision rules for the markets.
  • He combined journaling with videos and cases to create a reality TV-type experience for his employees.
  • He used journaling to bring people together and help them understand each other better.
  • He created an app called Principles in Action that combines journaling with videos and cases to help people reflect and communicate together.
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Interactive Journaling

  • The journal attached to Ray Dalio's Principles in Action app is interactive.
  • The journal has better prompts than most journals and includes exercises.
  • The journal has a QR code that can be scanned on every page.
  • The app allows you to save your journal online and play around with the data.
  • The app is free and rated 4.9 stars.
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Journaling as a Way of Life

  • Journaling is not just about writing down your feelings or thoughts.
  • Journaling is a way of life and an approach to life.
  • Journaling helps you reflect on your experiences and gain perspective on decision-making.
  • Journaling helps you communicate better with others and bring people together.
  • Journaling can be combined with videos and cases to create a reality TV-type experience.
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The Importance of Writing Down Principles

  • Writing down principles is important because it allows us to pass on valuable lessons to others.
  • It helps us to teach others how to deal with pain and make successful decisions.
  • It is important to write down principles because it allows us to help others even after we are gone.
  • By writing down principles, we can help others to deal with situations they may face in life.
  • Writing down principles is foundational for life.
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Exposing Yourself to Different Ideas

  • Exposing yourself to different ideas is important because it allows you to find what you can hold on to and develop yourself.
  • It is important to be exposed to a lot of different insights to find what works for you.
  • By being exposed to different ideas, you can develop yourself and become a better person.
  • Exposing yourself to different ideas is a key part of personal growth.
  • Being open to new ideas can help you to find your own path in life.
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The Arc of Life

  • The Arc of Life is an exercise in the book on the Larkin life that's New York in life.
  • It is a script that shows all the different things that happen to you at each stage of life.
  • By going down this script, you can see where you are and what is coming next.
  • The Arc of Life helps you to gain perspective on your life.
  • Understanding the Arc of Life can help you to connect intellectually with what is happening subliminally and emotionally.
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The Joy of Helping Others

  • The greatest joy that one can have is to help people be successful without oneself.
  • It is important to help others be successful and pass on valuable lessons.
  • Helping others is a key part of personal growth and development.
  • As we age, our greatest joy may shift from being successful ourselves to helping others be successful.
  • Helping others is a way to leave a lasting impact on the world.
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The Importance of Coaching and Mentorship

  • There are two schools of thought on the importance of mentors and coaches in achieving success.
  • Some entrepreneurs believe that mentors and coaches are integral to their success, while others believe they are self-made and don't need anyone's advice.
  • Ray Dalio believes that everyone should be assertive and open-minded at the same time.
  • Triangulation is key to success, which means getting the three smartest people you know who will disagree with you and stress test your ideas.
  • It's important to get other perspectives and not blindly believe in your own ideas.
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The Power of Journaling

  • Journaling is a practice that has stood the test of time and is used by many successful people.
  • It helps with self-reflection and self-awareness, which are important for personal and professional growth.
  • Journaling can also help with stress management and problem-solving.
  • It's important to be honest and vulnerable in your journaling to get the most out of it.
  • Journaling can also help with decision-making and tracking progress towards goals.
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The Importance of Self-Awareness

  • Self-awareness is crucial for personal and professional growth.
  • It involves understanding your strengths and weaknesses, as well as your biases and blind spots.
  • Self-awareness can help with decision-making, communication, and building relationships.
  • It's important to seek feedback from others to improve your self-awareness.
  • Self-awareness can also help with managing stress and emotions.
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The Power of Radical Transparency

  • Radical transparency is a key principle at Ray Dalio's company, Bridgewater Associates.
  • It involves being completely honest and transparent with yourself and others.
  • Radical transparency can help with decision-making, problem-solving, and building trust.
  • It's important to create a culture of radical transparency in your personal and professional life.
  • Radical transparency can also help with personal growth and self-improvement.
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The Importance of Open-Mindedness and Thoughtful Disagreement

  • Knowing people from different backgrounds, walks of life, and expertise leads to healthier debates and better answers.
  • Individuals who are highly opinionated and refuse to exchange different opinions are a threat to society.
  • Empathy and the ability to understand different sides are important skills to have.
  • Ideology is not a safety net and can prevent individuals from gaining knowledge and understanding.
  • The fear of making mistakes should motivate individuals to take in different perspectives and weigh things.
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The Art of Thoughtful Disagreement

  • Win-win relationships are better than lose-lose relationships.
  • Knowing the approach to making choices and having mutual respect for others' points of view is important.
  • The art of thoughtful disagreement is the basis of an innovative and harmonious society.
  • A mediator is an important role in resolving disagreements.
  • Finding a fair judge and mediator can help individuals get past disagreements.
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The Importance of Self-Reflection

  • Self-reflection is important in gaining self-awareness.
  • Self-awareness is important in achieving success.
  • Reflecting on past mistakes and learning from them is important in personal growth.
  • Having a mentor or coach can help individuals gain self-awareness and improve.
  • Being open to feedback and criticism is important in personal growth.
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The Importance of Principles and Values

  • Having principles and values is important in decision-making.
  • Principles and values help individuals make choices that align with their goals and beliefs.
  • Principles and values help individuals stay true to themselves and their beliefs.
  • Having a clear set of principles and values can help individuals navigate difficult situations.
  • Principles and values can help individuals build trust and credibility with others.
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The Importance of Finding Truth

  • Winning a debate doesn't necessarily mean you have found the truth.
  • The real winner is the one who learns something and improves their understanding.
  • Approaching disagreements with curiosity and a desire to find the truth can lead to a wonderful experience.
  • Admitting a mistake or discovering the truth should not be seen as weakness.
  • The education system's focus on finding the right answer can be problematic as it doesn't prioritize the sequence of discovering truth.
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Changing Behavior to Improve Relationships

  • People can change their behavior to become more curious and open to different points of view.
  • Reflecting on one's own behavior and asking why they are blocking ideas can lead to changed behavior.
  • Changed behavior can lead to better decisions and relationships, ultimately leading to a better life.
  • It takes time to change behavior, but it is possible to train oneself to approach disagreements with curiosity and a desire to find the truth.
  • Creating a culture of self-reflection and self-improvement can make it easier to have conversations with disagreement and debate.
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The Importance of Understanding Opposing Arguments

  • Debating based solely on why your point is better is not enough.
  • To become a great debater, you must also deeply study the opposing argument.
  • The real winner is the one who improves their understanding, not just the one who ends up with the position they started with.
  • Approaching disagreements with a desire to understand the other person's point of view can lead to a better understanding of the truth.
  • People who are successful in school are not always successful in life because the education system doesn't prioritize understanding opposing arguments.
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The Problem with Our Culture of Winning

  • Our culture prioritizes winning and being right over finding the truth.
  • Admitting a mistake or discovering the truth is often seen as weakness.
  • The education system's focus on finding the right answer doesn't prioritize the sequence of discovering truth.
  • Creating a culture of self-reflection and self-improvement can help change this mindset.
  • Approaching disagreements with curiosity and a desire to find the truth can lead to better decisions and relationships.
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Importance of Self-Awareness and Reflection

  • There is a subliminal emotional part of our brains that operates without our knowledge.
  • Asking someone if they want to hear criticism can help them become aware of their emotional and intellectual conflict.
  • Debates between the emotional and intellectual parts of ourselves are the biggest debates we have.
  • Success is aligning our emotions and intellect to make better decisions.
  • Meditation can help us achieve alignment and make better decisions.
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Challenges in Society

  • Studying history can help us prepare for and navigate through crises.
  • The three big challenges in society are financial, internal conflict, and populism.
  • The creation of a lot of debt and printing of money is producing unprecedented stagflation.
  • Large wealth gaps and intransigent win-at-all-cost mentalities are causing internal conflict.
  • Populism is a political representation that promises to fight for the people and win at all cost.
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The Macro Perspective

  • There are three major problems that create conflict in the world today.
  • The first problem is the wealth gap, which produces financial problems and stress.
  • The second problem is the rise of powers that challenge the United States, such as Russia and China.
  • The third problem is the potential for irreconcilable differences in the next presidential election.
  • All of these problems make for greater conflict in the world.
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Understanding Historical Arcs

  • Ray Dalio studied the last 500 years of history to see the repeating arcs that take 100-150 years to complete.
  • He wrote a book called "Changing World Order" and created a free video to convey the message to people.
  • It's important to understand these arcs and approach the current circumstances with equanimity and other principles.
  • The key to navigating any environment well is to know how to deal with it.
  • Dalio wrote different principles in his book on how to deal with the current environment.
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The Basics of Human Interaction

  • The key to dealing with the current environment is to understand how people interact with each other.
  • Having thoughtful disagreement, compromise, and working together is better than fighting with each other.
  • The challenge is the massive disparity between the problem and our skills to deal with it.
  • Studying historical revolutions shows that when conflict intensifies, people stop listening to each other and start fighting.
  • Human nature can destroy each other, but it's the same human nature that has created more wealth and longevity than ever before.
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Lessons from History

  • Studying history can teach us what not to do.
  • Visiting Rwanda and its genocide Memorial Museum showed the healing power of forgiveness and collective consciousness.
  • Leadership can spearhead a journey towards bringing people together and recognizing our similarities.
  • Recognizing the progress made by countries like Rwanda can inspire us to work towards a better future.
  • Learning from history can help us avoid repeating past mistakes.
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The Typical Cycle of War and Peace

  • The typical cycle involves a war or civil war, a fight for power, and a horrendous experience.
  • Out of this comes a new system or a new leader.
  • The cycle swings towards peace and prosperity, but a new generation may come along and start the cycle again.
  • We need to understand the consequences of war and work towards win-win relationships and compromise.
  • Worrying about the consequences can help us avoid repeating the cycle.
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