Ray Dalioâs Key for Developing Good Workplace Culture
2026-01-29
Iâve learned that culture isnât something you write downâitâs something that emerges from how people actually behave.
The incentives you create, the feedback you allow, and the principles you enforce will determine whether an organization learns and evolves or repeats the same mistakes. If you want better outcomes, start by designing a culture thatâs aligned with reality.
The Time the United States Ran Out of Money
2025-11-11
When I was a young clerk on the floor of the New York Stock Exchange in 1971, the US ran out of money and defaulted on its debts.
Now, they didnât say it that way. But by moving away from the gold standard â the idea that people could exchange paper dollars for gold â money, as we understood it, ended.
I expected the stock market to plunge the next day, but when the opening bell rang the market was way up. And it went on to rise nearly 25%.
That surprised me, because I had never experienced a currency devaluation before. But when I looked into it, I discovered the exact same thing happened in 1933 and it had the exact same effect.
But in both cases, breaking the link to gold allowed the US to continue spending more than it earned, and so the value of each dollar fell.
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