Despite this optimism, employers are still cautious about salary increases, perhaps reflecting a concern that rising interest rates might dampen economic growth next year.”
The Principles, as Mr. Dalio has said before, are “being lived out” at Bridgewater Associates, where about 1,500 employees on the company’s pine-forested campus in Westport, Conn., must check their egos and speak their minds while managing $162-billion (U.S.).
He’s so full of energy at the beginning of our interview this summer that his hands tremble. Mr. Dalio says he hates the limelight, but he’s recently started tweeting, just gave a TED Talk and will publish the Principles as a 600-page book for the first time this September. He’s also planning a second title that will detail his economic and investment principles, which he’s closely guarded for years.
(Mr. Dalio plans to relinquish his co-chairman title within the next five years, but he says he wants to be involved in the company’s investments until he dies.) As if that process weren’t daunting enough, the ultimate goal of Mr. Dalio’s successors is nothing short of monumental:
Not only to ensure that the firm’s culture lasts for the next 100 years, but also that Bridgewater become an “everlasting institution.” Although Mr. Dalio prizes his
Most meetings are recorded. Employees must rate one another on one of about 75 attributes – some with funnysounding names such as “Designing the Movie Script” and “Willing to Touch the Nerve” – about 15 times a week to create data to confirm that the right people are in the right jobs and to help them better interact with one another. Mr. Dalio says that as much as 30 per cent of the population couldn’t tolerate a Bridgewater-esque environment.
Their answers are compared with those of other employees and their ratings adjusted accordingly. That emphasis on reinforcing the company’s culture through technology is where things might get even more interesting. Mr. Dalio says he’s thinking about open-sourcing the computer code Bridgewater has developed, an artificial-intelligence program dubbed Principle OS that does everything from summarize meetings to analyze reasons a person might be feeling anger, confusion or embarrassment when interacting with a colleague.
The programs could automate about three-quarters of Bridgewater’s management decisions within the next five years, according to the company.