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When entering this second phase of life, you are almost certainly making the mistake of thinking you know more than you actually know—especially if you got good grades in school. You were taught that success is a matter of learning what you were taught and not making mistakes. That probably made you a bit arrogant, like I was when I graduated. But it is living life and encountering your realities that will truly teach you. The question is, will you learn? 

You can watch the full speech at the link in my bio. #principles

If both parties are peers, it’s appropriate to argue. But if one person is clearly more knowledgeable than the other, it is preferable for the less knowledgeable person to approach the more knowledgeable one as a student and for the more knowledgeable one to act as a teacher. Doing this well requires you to understand the concept of believability. I define believable people as those who have repeatedly and successfully accomplished the thing in question—who have a strong track record with at least three successes—and have great explanations of their approach when probed.

If you have a different view than someone who is believable on the topic at hand—or at least more believable than you are (if, say, you are in a discussion with your doctor about your health)—you should make it clear that you are asking questions because you are seeking to understand their perspective. Conversely, if you are clearly the more believable person, you might politely remind the other of that and suggest that they ask you questions.

All these strategies come together in two practices that, if you seek to become radically open-minded, you must master. #principleoftheday

Some ways of thinking will serve you well for some purposes and serve you poorly for others. It is highly desirable to understand one’s own and others’ ways of thinking and their best applications. Some qualities are more suitable for some jobs. For example, you might not want to hire a highly introverted person as a salesman. That’s not to say an introvert can’t do that job; it’s just that a gregarious person is likely to be more satisfied in the role and do a better job.

If you’re not naturally good at one type of thinking, it doesn’t mean you’re precluded from paths that require it. It does, however, require that you either work with someone who has that required way of thinking (which works best) or learn to think differently (which is difficult or even impossible). #principleoftheday

When debt levels reach extreme sizes relative to income, governments are left with a limited set of choices. They can cut spending, raise taxes, restructure the debt, or print money. 

History shows that most systems end up relying heavily on the last option, but printing money doesn’t eliminate the problem–it just shifts how the debt cycle plays out. 

Understanding this dynamic is key to understanding the economic environment we’re in.

#raydalio

If you don’t mind being wrong on the way to being right you’ll learn a lot—and increase your effectiveness. But if you can’t tolerate being wrong, you won’t grow, 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. #principleoftheday

The biggest issue right now is the power of the United States as a world empire and whether it will remain a dominant power. This shifting dynamic is causing leaders in different countries to think differently about their economics, as well as the reality of American treaties and military protections.

We are seeing a real test of whether this war strengthens the US in that regard or ultimately weakens it. Right now, it’s a problem for the US.

There is a public expectation that a war has to be over in weeks, without too high gas prices, and without losing anybody. It takes much more than that to fight a war. This reality changes everything in terms of defense and global positioning.

It is unacceptable to use your personal influence to help someone get a job because doing so undermines the meritocracy. It’s not good for the job seeker, because it conveys they did not really earn it; it is not good for the person doing the hiring, because it undermines their authority; and it is not good for you because it demonstrates you will compromise merit for friends. It is an insidious form of corruption and it must not be tolerated. #principleoftheday

The answer doesn’t have to be in your head; you can look outside yourself. If you’re truly looking at things objectively, you must recognize that the probability of you always having the best answer is small and that, even if you have it, you can’t be confident that you do before others test you. So it is invaluable to know what you don’t know. Ask yourself: Am I seeing this just through my own eyes? If so, then you should know that you’re terribly handicapped. #principleoftheday

Knowing your nature is critically important to understanding what success is for you.

I can’t tell you literally what is best for you, but I can tell you that success is not having a lot more money or status than you need. Having the time and freedom to do what you most want to do is far more important.

What is success for most people? It is a matter of having meaningful work and meaningful relationships. If you can make your work and your passion one and the same, and do it with people who you care about and care about you, you will have a happy, successful life.

Remember that your goal is to put the right people in the right design. First understand the responsibilities of the role and the qualities needed to fulfill them, then ascertain whether an individual has them. When you’re doing this well, there should almost be an audible “click” as the person you’re hiring fits into his or her role. #principleoftheday

Open-mindedness doesn’t mean going along with what you don’t believe in; it means considering the reasoning of others instead of stubbornly and illogically holding on to your own point of view. To be radically open-minded, you need to be so open to the possibility that you could be wrong that you encourage others to tell you so.

#principleoftheday

The most valuable thing you can have in the next phase of your life is not your diploma or even what you’ve learned thus far. It is your approach to life.

If you take advantage of your experiences—good or painful—as opportunities to learn, you will find great principles that will help you deal with your realities well. In the process, you will discover your nature and find excellent work and excellent relationships that will suit you, which will give you the best possible life.

You can watch the full speech at the link in my bio. #principles