segregated society. He grew up to lead numerous campaigns against racial

segregation, including the Montgomery bus boycott after Rosa Parks refused to give

up her bus seat to a white man. To the march on Washington, where he spoke the

immortal words I have a dream. Martin Luther King embodies the first of Ray

Dalio principles. Which is embrace reality, and deal with it. Moving from

an idealist to a hyper realist will let you see things for what they are. If you

only see things for what they should be, you'll miss the opportunity to change.

Now, this principle isn't just for the external world. It's also a principle to

use on yourself. If you're not a realist about who you are, how can you identify

opportunities for you to become better? Now ray likes to apply algorithms to his

principles to live by. The algorithm for this principle is: dreams plus reality

plus determination equals a successful life. Martin Luther King saw the dream of

equality, understood the reality of segregation, and had the determination to

change it. And now her success is immortalized around the world.

There was this company founded in 1888 who grew to dominate the photography

industry during the 1900's. 1981 marked the beginnings of the digital

photography era, and this company was well aware of it. Leading research into

the field. In fact in 1986 this company produced the first in megapixel camera.

However, the executives of this company decided to stay true to traditional

photography. Failing to see digital cameras as the disruptive technology of

the future. This company is Kodak, and in 1997 they had a market value of 30

billion dollars. In 2012 the company filed for bankruptcy and today, in 2018,

the value of the company is 200 million dollars. Just 0.7 percent of its 1997

high. The Kodak moment used to be something worth capturing forever, but

now I think of it as the failure to adapt and the associated consequences

the second aspect of this embrace reality and deal with the principle is:

evolve or die. Evolving as life's greatest accomplishment, and its greatest

reward. But trust me. Sometimes evolution doesn't feel good. You have to get

outside of your comfort zone. Do you ever have those moments where you

look down and you're eating a whole tub of ice cream? Or maybe you eat a few too

many slices of cake? and suddenly you think to yourself oh my god! Why did I

let myself eat all that cake? This is a situation where your emotional

unconscious mind won a fight against your rational conscious mind. Your ego

also resides in this unconscious part of your brain, acting as a subliminal

defense mechanism that makes it hard to accept mistakes, weaknesses, and being

wrong. And so this causes a constant struggle between your to you's. The

conscious you, and the unconscious you. Now imagine you're having a conversation

with someone and you disagree with them. And you're having this struggle going on

inside of you, with your rational mind thinking play it cool. And your ego

trying to burst out and yell at the other person because you can't be wrong.

And then think about the other person who's in the exact same fight between

their conscious then and unconscious them. Because both of you want to be

reasonable but neither of you want to be wrong. And even after you've finished

arguing with them, you both walk away thinking you were right and the other

person was wrong. Which leads us to Ray's 2nd principle: be radically open-minded

the algorithm that's associated with this principle is pain plus reflection

equals progress. You need to recognize your two barriers: your ego, and your

blind spots you cannot let your need to be right be more important than finding

out what is true. When you come out of those arguments and reflect on them

you'll find that you're able to be more analytical and less emotional next time

you enter a similar situation. Part of being radically open-minded as learning

to appreciate the art of thoughtful disagreement. When we think about the

previous example of two people arguing and both walking away thinking

they were right, there's something fundamentally wrong with that picture.

When two people disagree one of them is typically wrong. And in this quest for

finding out what is true it's incredibly important to find out if you were wrong.

We all like to talk about innovative people who think outside the box and

there's insinuates that we all have a box in which our mind operates. And the

four walls of this box create limitations to our thinking, or blind

spots to what we see and perceive. They cause us to think that we have thought

of everything. Aand maybe we have, but it's only everything inside our box. But by

having thoughtful disagreements with people, we add the four walls of their

box to our own. Do this enough, and suddenly you have a cube of thoughts all

looking at the same thing from different angles and perspectives. Reducing the

impact our blind spots have on our ability to find what is true. The art of

thoughtful disagreement comes from asking questions rather than making

statements, and to give people time to respond. Instead of saying: "I could be

wrong but I don't think that's a good idea because of X, Y & Z". Ask: "how do you

think they'll impact X, Y & Z". Because that gives them the ability to show you

their truth. That doesn't mean that they're right, but they may point out

something in your blind spot.

You need to triangulate your position by bouncing ideas of believable people who

are willing to disagree with you. So, to recap. Embrace reality and deal with it

evolve or die, and be radically open-minded.

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