Billionaire investor Ray Dalio, the founder of the world's largest hedge fund Bridgewater Associates, believes that mistakes are a natural part of the evolutionary process, it was reported in October 2022.
The author of the bestselling book Principles also quotes Amazon.com, Inc. AMZN founder Jeff Bezos on how important the willingness to fail is. Jeff Bezos described it well, when he said, You have to have a willingness to fail repeatedly.'' He said if you don't have the willingness to fail, you're going to have to be very careful not to invent.
Dalio said if one can't tolerate being wrong, one won't grow. He said that you'll make yourself and everyone around you miserable, and your work environment will be marked by petty backbiting and malevolent barbs rather than by a healthy, honest search for truth.
The billionaire investor stated that there is a scope to learn a lot while also increasing effectiveness if one doesn't mind being wrong on the way to being right. He said that you should not let your need to be right be more important than your need to find out what's true.
Dalio believes fairness should not be taken for granted and is a big proponent of fairness. He explained last week that people should be able to distinguish between fairness and generosity, and that people should be able to distinguish them through a series of tweets.
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