Episode Details

Ray Dalio, in his book Principles, talks about the search for truth over the desire to be right and convince other people of your way of thinking. Things are changing fast. The close-minded folks are getting left in the dust. The radically open-minded entrepreneurs will win. Remind yourself that three things are at play when you're making decisions: 1. You filter information based on what supports your previously held beliefs and desires 2. You actually understand things a lot less than you think you do (the can opener effect) 3. Your emotions (fear, anger, greed) impact your logic in a negative way Change your mind often. Accept all new information based on what it's worth. Understand your blindspots. Keep a bead on your emotions. The last 10 year run has made it easy to succeed. A rising tide floats all ships. This hardship will separate the winners from the losers. Stay strong!