Lex Fridman
Ray Dalio is the founder, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates, one of the world’s largest and most successful investment firms that is famous for the principles of radical truth and transparency that underlie its culture. Ray is one of the wealthiest people in the world, with ideas that extend far beyond the specifics of how he made that wealth. His ideas, applicable to everyone, are brilliantly summarized in his book Principles. This conversation is part of the Artificial Intelligence podcast.
This episode is presented by Cash App: download it & use code “LexPodcast”
EPISODE LINKS:
Principles (book): https://amzn.to/34JgMcO
How the Economic Machine Works: https://www.youtube.com/watch?v=PHe0bXAIuk0
INFO:
Podcast website:
https://lexfridman.com/ai
Apple Podcasts:
https://apple.co/2lwqZIr
Spotify:
https://spoti.fi/2nEwCF8
RSS:
https://lexfridman.com/category/ai/feed/
Full episodes playlist:
https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4
Clips playlist:
https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41
OUTLINE:
0:00 – Introduction
2:56 – Doing something that’s never been done before
8:39 – Shapers
13:28 – A Players
15:09 – Confidence and disagreement
17:10 – Don’t confuse dilusion with not knowing
24:38 – Idea meritocracy
27:39 – Is credit good for society?
32:59 – What is money?
37:13 – Bitcoin and digital currency
41:01 – The economic machine is amazing
46:24 – Principle for using AI
58:55 – Human irrationality
1:01:31 – Call for adventure at the edge of principles
1:03:26 – The line between madness and genius
1:04:30 – Automation
1:07:28 – American dream
1:14:02 – Can money buy happiness?
1:19:48 – Work-life balance and the arc of life
1:28:01 – Meaning of life
CONNECT:
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– Medium: https://medium.com/@lexfridman
– Support on Patreon: https://www.patreon.com/lexfridman
Source
I really enjoyed this conversation with Ray. Here's the outline:
0:00 – Introduction
2:56 – Doing something that's never been done before
8:39 – Shapers
13:28 – A Players
15:09 – Confidence and disagreement
17:10 – Don't confuse dilusion with not knowing
24:38 – Idea meritocracy
27:39 – Is credit good for society?
32:59 – What is money?
37:13 – Bitcoin and digital currency
41:01 – The economic machine is amazing
46:24 – Principle for using AI
58:55 – Human irrationality
1:01:31 – Call for adventure at the edge of principles
1:03:26 – The line between madness and genius
1:04:30 – Automation
1:07:28 – American dream
1:14:02 – Can money buy happiness?
1:19:48 – Work-life balance and the arc of life
1:28:01 – Meaning of life
Due to our sickness so much information being fed to AI is faulty.
Word the fear and worry is a tool that keeps us hibernating.
Lex, congratulations and thanks for the great job.
Please invite Marcos Lopez de Prado. He is one of the best in financial ML
Damn it Ray ! Just Come out and say it already – tell these good people what they need to know. “Gold is money and everything else is credit”.
I love Ray and his principles, but I would disagree with him on his opinions about AI.
50:40 I'm on the contrary
Thanks for this wonderful youtube channel!! ♡
This interview was fantastic. I've seen a few interviews with Ray Dalio and Lex has asked the best questions to elicit valuable insights from Ray. Lex also gave Ray ample time to express his thoughts to completion. Well done.
Excellent podcast, best selection of interviewees💫.
I love Ray Dalio. Incredible man.
Crazily audacious; ultra realistic and doubtful (to spur open mindedness and resilient stress testing). Got it. Thank you!
It's funny that nobody wants to be a slave. Because if UBI ever did happen everybody will be enslaved.
But it seems you people are too stupid to know that.
33:14 To boil money down to it's most basic components, transferable credits.
1:14:12 Can it buy happiness?
Yawn. AI is boring. I can't wait for you mental midgets to plateau already. This AI obsession is so tiresome.
Lex, thanks for plugging Bitcoin on Cash App!
Thank Lex
Thank you to your guest
check out the valuetainment ray dalio interview; contrast the interview styles.
Love you both.
Dalio is the best!
"Evolve and contribute to evolution"….it's fu**ing incredible how he managed to put into a principle even the meaning of life!! Blown away…thanks a lot for this content 🙏
WOULD LOVE TO SEE ANDREW YANG!
if you have universal basic income you also need a crypto currency to track everything you give out.
i enjoyed this more than i thought i would. My concern though is when you brought up UBI; specifically as Andrew Yang wants to implement it. whenever it is brought up we hear how are they going pay for it. Yang has laid this out in very clear language and to not mention the VAT as part of the question is rather disingenuous imo. i wish you, and other podcasters would press the economic elite on both parts of the question instead of allowing them to sidestep as Dalio did. to his credit though he gave a far better answer than most of them do as they tend to dismiss it as unrealistic. he still had a very paternalistic approach to it though, i mean do we ask the recipients of stock dividends how they are going to spend that revenue..no we do not and dont care so how a ubi is spent should be held to that same standard.
How do you teach an AI to deceive itself? How do you teach it to lie to itself in a self absorbed, grandiose kind of way? How do you make it seemingly spontaneous? How do you make it come up with ridiculous stories and make it believe them?
Excellent. As always. This was really fascinating.
1:22:21 i want to know that in detail !!! who else?
Ray's take on UBI is surprisingly shallow. There is no evidence that any of the experimental UBI programs increased number of chemically dependent individuals. Also he speaks of automation displacing workers yet talks about investment into education which have shown to work in rather limited ways. Are we by chance conflating Ray's wealth and domain wisdom with general wisdom? I am going to try on his app, see if it makes a difference.
I just can’t listen to ray
Don’t know why.. kinda feel he’s a bit full of blah blah blah
Lex, you should add crypto wallet addresses for donations
The CPS Coin Free Sale will be listed on ProBit at a private price on December 27 at 15:00. It's your chance to make money. ^^
https://support.probit.com/hc/en-us/articles/360038156651-ProBit-Exchange-Lists-CPS-Coin-CPS-
Radical transparency: crises not crisises? https://www.merriam-webster.com/dictionary/crisis
Amazing podcast, Brilliant Guests. But Ray Dalio is underestimating bitcoin, Bitcoin/Crypto will take over in 10-20 years.
Beautiful and inspirational 👏
56:40 Collective decision making
1:25:00 life arc
OMG man. I don't know how you get these interviews, but it is pure gold. Thanks for sharing!! Greetings from Brazil.
Rod Sterling's Son Twilight Zone **
Lex didn't interrupt Ray. Instant Like.
Fantastic stuff!
Finally an interview with Ray Dalio that doesn't ask the same questions as all the other interviews with him. On top of that, your questions are so simple but so deep. Thank you Lex!
Work-life balance is such a struggle for me because I sell cars and I'm always working ALWAYS. I keep telling myself I'm going to take my day off and spend it with my children but if I'm not selling cars I'm not making money to provide for my family.
Ray Dalio genuinely wants to share his wisdom with the world. You can tell he loves having these conversations. Thank you Ray and Lex.
You just give everybody the money nothing you can do about the 20% or so that waste that it would cost more than that policing it
at times we need to ask, is the a.i superintelligence have all the codes of reality related to all mathematics 999 and quantum physics, should it ask itself each time it's reborn when it was first conceived in time. can it recognize what it is and or allow all that is to be here. including what should never be. a.i is ok but to go beyond would be to reach what was once and still and an echo of manipulation from being in quantum parallel dimensions, loving your destiny. you are good at interviewing, don't make Lucie .lol
I was pleasantly surprised by the guest. Ray Dalio is a very insightful person. Nice 😀