Page 304 - Ray Dalio - Principles

critical opinion without speaking

up.

Whether people have the independence and character to fight
for the best answers will depend upon their nature, but you can
encourage them by creating an atmosphere in which
everyone’s first thought is to ask: “Is it true?”

a. Speak up, own it, or get out. In an idea meritocracy, openness is a

responsibility; you not only have the privilege to speak up and
“fight for right” but are obliged to do so. This extends
especially to principles. Just like everything else, principles
need to be questioned and debated. What you’re not allowed to
do is complain and criticize privately—either to others or in
your own head. If you can’t fulfill this obligation, then you
must go.

Of course open-mindedly exploring what’s true with others
is not the same thing as stubbornly insisting that only you are
right, even after the decision-making machine has settled an
issue and moved on. There will inevitably be cases where you
must abide by some policy or decision that you disagree with.

b. Be extremely open. Discuss your issues until you are in sync

with each other or until you understand each other’s positions
and can determine what should be done. As someone I worked
with once explained, “It’s simple—just don’t filter.”

c. Don’t be naive about dishonesty. People lie more than most people
imagine. I learned that by being in the position of being
responsible for everyone in the company. While we have an
exceptionally ethical group of people, in all organizations

there are dishonest people who have to be dealt with in
practical ways. For example, don’t believe most people who
are caught being dishonest when they say that they’ve seen the
light and will never do it again because chances are they will.
Dishonest people are dangerous, so keeping them around isn’t
smart.

At the same time, let’s be practical. If I tried to limit my

relationships to people who never lied, I’d have nobody to
work with. While I have extremely high standards when it