Ray Dalio: How to build a company where the best ideas win
راي داليو: كيف تبني شركة لا يفوز فيها إلا أفضل الأفكار؟
Ray Dalio is the founder, chair and co-chief investment officer of Bridgewater Associates, a global leader in institutional portfolio management and the largest hedge fund in the world. Full bio
Double-click the English transcript below to play the video.
decision-making is coming at you fast,
ستتغلغل سريعا في حياتكم،
to take algorithms
نأخد خوارزميات
that you're leaving on yourself
كل بيانات البحث والاستخدام
to interact with you
than most people can.
and I have found it to be wonderful.
وأجده رائعا.
to have meaningful work
عندي عمل ذا معنى
with the people I work with,
and that algorithmic decision-making.
و خوارزمية صنع القرار تلك.
that I'm going to show you
I've had a terrible rote memory.
لدي ذاكرة حفظ سيئة،
how things worked for myself.
عمل الأشياء المختلفة.
with trading the markets.
التجارة في الأسواق.
and I put it in the stock market.
ووضعته فى تجارة الأسهم.
the stock market was hot at the time.
جذابا في هذه الوقت.
of Northeast Airlines.
"نورثيست إيرلاينز".
the only company I heard of
الوحيدة التي
than five dollars a share.
من خمس دولارت.
المزيد من الأموال.
because I got lucky.
ثلاث مرات بسبب الحظ فقط.
الأخرى عليها،
سهلة على الإطلاق.
against the consensus and be right.
ضد الجميع وتكون على صواب.
the consensus and be right
العام ويكون رأيك صواب
is built into the price.
في الرأي مبني على الأسعار
the consensus and be right.
العام وتكون على صواب.
and an investor --
رجل أعمال ومستثمر
is making a lot of painful mistakes.
العديد من الأخطاء.
began to change.
so I wouldn't make that painful mistake?
أتفادى هذه الأخطاء المؤلمة؟
so I would remember them
أتمكن من تذكرها
would be embedded in computers,
في أجهزة الحاسب الآلي،
make decisions along with me;
القرارات معي،
we would make these decisions.
من اتخاذ هذه القرارات.
then compared with my own decisions,
مع قراراتي الخاصة
those decisions were a lot better.
أفضل بكثير.
could make decisions much faster,
القرارات بشكل أسرع،
my decision-making.
صنع القرار لدي.
البنوك الأمريكية
to emerging countries
البلدان الناشئة بدلاً
were going to be able to pay back
the greatest debt crisis
kind of a crazy point of view.
since the Great Depression.
فترة الكساد العظيم.
and appear on "Wall Street Week,"
وأن أظهر في "وول ستريت وويك"،
I've got a clip here,
to be able to appear before you
العظيم أن أجلس امامكم
is going wrong with our economy.
quoted in an article.
with absolute certainty
with absolute certainty
and the world as a whole,
level of liquidity
to an era of stagflation."
"What an arrogant jerk!"
من أحمق مغرور!".
went up rather than going down,
بدلاً من الانخفاض.
for myself and for my clients
وأموال عملائي
my operation pretty much,
4,000 dollars from my dad
4000 دولار من والدي
experiences of my life ...
ألماً في حياتي...
one of the greatest experiences of my life
تجاربي في الحياة
about decision-making.
اتخاذ القرارات.
people who would disagree with me
قد يختلفون معي
stress test my perspective.
I would lead and others would follow
والآخرون يتبعون فقط
points of view were equally valued,
وجهات نظر الجميع بنفس القدر.
in which the best ideas would win out.
بحيث لا ينجح إلا أفضل الأفكار.
radical truthfulness
and radical transparency
what they really believed
tape almost all conversations
an idea meritocracy.
الأفكار الجديرة.
and say what they want.
ويقولون ما يريدون.
to everybody in the company.
today in the meeting ...
you could have been that disorganized."
I needed feedback like that.
كنت بحاجة لتقييم مثل هذا
and people like Jim,
والأشخاص مثل جيم،
ما هي عليه الآن.
for everybody to see,
that's how we've been operating.
هذه هي الطريقة التي نعمل بها.
with this radical transparency
those principles into algorithms.
the investment business,
with the people management.
مع الموظفين.
into what this looks like,
called the "Dot Collector"
would mean for the US economy.
على الاقتصاد الأمريكي.
different opinions on the matter
مختلفة حول هذا الأمر
approaching the discussion.
هذه الأراء.
about another person's thinking,
عن طريقة تفكير شخص آخر،
to convey their assessment;
and provide a rating from one to 10.
وإعطاء تقييم من صفر إلى عشرة.
بإعطائي تقييم 3...
of open-mindedness and assertiveness.
ما بين الانفتاح والثقة.
added up like this.
have different opinions.
آراء مختلقة.
going to have different opinions.
باختلاف الأشخاص.
about how I was doing.
بشأن أدائي.
behind the numbers.
درجات التقييم.
gets to express their thinking,
in the company.
and right out of college,
والخريجة حديثا من الجامعة،
that I'm approaching things terribly.
بأن أدائي سيىء للغاية.
both express their opinions
في التعبير عن آرائهم
from their opinions
من منظور أعلى.
from inputting their own opinions
من إدخال آرائهم الخاصة
as just one of many
واحدة من عديد
from seeing in one dimension
من الرؤية من خلال بُعد واحد
from arguing over our opinions
بشأن آرائنا
for determining which opinions are best.
من أجل تحديد أفضل الأراء.
is a computer that is watching.
حاسب آلي يقوم بالمتابعة.
these people are thinking
هؤلاء الأشخاص
with how they think.
back to each of them based on that.
منهم بناءً على ذلك.
from all the meetings
من كل اللقاءات
of what people are like
عن صفات الناس
to match them better with their jobs.
في توافقهم أكثر مع وظائفهم.
who's reliable but not creative.
غير مبدع ولكن جاد في عمله.
also allows us to decide
أيضا في تقرير
based on people's merits.
إلى مزايا الناس،
of people felt one way ...
based on people's merits,
استنادا على مزايا الناس،
not based on democracy,
ليست على أساس الديمقراطية
people's believability into consideration.
تأخذ مصداقية الناس في الحسبان.
one of the greatest tragedies of mankind,
من وجهة نظري
in their minds that are wrong,
أفكار خاطئة في عقولهم،
to stress test them.
above our own opinions
من أنفسنا فوق آرائنا الخاصة
through everybody's eyes,
من خلال عيون الأخرين،
better than individual decision-making
من اتخاذ القرارات الفردية
behind our success.
more money for our clients
المزيد من الارباح لعملائنا
23 out of the last 26 years.
من ال26 عام الماضية.
with being radically truthful
بالصدق المطلق
من الناحية العاطفية
for a brutal work environment.
لبيئة عمل قاسية.
with how are brains are prewired.
علاقة بطريقة عمل الدماغ.
that would like to know our mistakes
يحدد أخطائنا
so we could do better.
لنتلاشاها فنصبح أفضل.
the prefrontal cortex.
which views all of this as attacks.
والذي يعتبر كل هذا كتهديد.
there are two you's inside you:
هناك شخصيتان داخلك:
that we can win this battle.
أنه يمكننا كسب هذه المعركة
prefer operating this way,
تفضل العمل بهذه الطريقة،
in a more opaque environment.
there's not the brutality of --
behind-the-scenes --
كل ماهو خلف الكواليس
where people can speak up.
يستطيع الناس أن يتحدثوا بما يريدون.
more effective relationships.
25 or 30 percent of the population
إلى 30 بالمائة من السكان
about everything.
that their bald spot is growing
شخصا أن الصلع في رأسة يزداد
in conversations with others.
محادثاتك مع الآخرين.
what they were really thinking,
what they were really like ...
تعرف حقيقتهم وطبائعهم...
what you were really thinking
together more effective.
أكثر فعالية .
your relationships.
all of that information
كل هذه المعلومات
in an idea-meritocratic way.
بشكل أكثر جدارة.
is coming at you
سيتغلغل في حياتك
ABOUT THE SPEAKER
Ray Dalio - Hedge fund chairRay Dalio is the founder, chair and co-chief investment officer of Bridgewater Associates, a global leader in institutional portfolio management and the largest hedge fund in the world.
Why you should listen
Dalio started Bridgewater out of his two-bedroom apartment in New York City in 1975 and has grown it into the fifth most important private company in the U.S. (according to Fortune magazine). Because of the firm’s many industry-changing innovations over its 40-year history, he has been called the “Steve Jobs of investing” by aiCIO magazine and named one of TIME magazine’s "100 Most Influential People."
Dalio attributes Bridgewater’s success to its unique culture. He describes it as “a believability-weighted idea meritocracy” in which the people strive for “meaningful work and meaningful relationships through radical truth and radical transparency.” He has explained this approach in his book Principles, which has been downloaded more than three million times and has produced considerable curiosity and controversy.
Ray Dalio | Speaker | TED.com