WEBVTT - Ray Dalio ON: Principles for Making Better Decisions & How to Strengthen Relationships for Long-Term Success 0:00:00.120 --> 0:00:03.880 And the path really to success, in my opinion, is 0:00:03.920 --> 0:00:06.720 to be able to align those Okay, what am I 0:00:06.880 --> 0:00:11.520 feeling and then to reflect intellectually. Is that the right 0:00:11.560 --> 0:00:21.120 thing if I'm going to Hey everyone, welcome back to 0:00:21.239 --> 0:00:24.240 On Purpose, the number one health podcast in the world. 0:00:24.280 --> 0:00:26.200 Thanks to each and every single one of you that 0:00:26.320 --> 0:00:29.760 come back every week to listen, learn, and grow. Now. 0:00:29.760 --> 0:00:33.640 I know you're here because you love learning about new insights, ideas, 0:00:34.040 --> 0:00:37.239 principles that can transform your life, things that you can 0:00:37.240 --> 0:00:40.640 put into practice, Ideas that you can actually take into 0:00:40.640 --> 0:00:44.520 your life, apply them and see changes in transformation happen. 0:00:44.920 --> 0:00:47.559 Today's guest is one of the few guests who's been 0:00:47.600 --> 0:00:50.040 on not just once, not just twice, but a third time. 0:00:50.080 --> 0:00:52.559 I don't think there's more than three guests out of 0:00:52.600 --> 0:00:55.000 our entire library that have been on as many times 0:00:55.240 --> 0:00:57.680 as today's guest, and I couldn't be more excited to 0:00:57.720 --> 0:00:59.279 talk to him. The first time I spoke to him. 0:00:59.440 --> 0:01:02.640 We're speaking about his book Principles, an incredible book. If 0:01:02.680 --> 0:01:04.760 you haven't read it, highly recommend that you get it. 0:01:05.400 --> 0:01:07.160 Next time we spoke, we spoke about a second book, 0:01:07.280 --> 0:01:09.960 Changing World Order, and the third one this interview we're 0:01:09.959 --> 0:01:13.240 talking about his new journal called My Principles. I've been 0:01:13.240 --> 0:01:15.360 flicking through this over the past few days since I've 0:01:15.360 --> 0:01:18.560 had it, and it has given me so much self 0:01:18.560 --> 0:01:21.920 awareness that I already believe I have, but the opportunity 0:01:21.959 --> 0:01:24.720 to reflect on it again and again consistently makes a 0:01:24.800 --> 0:01:26.520 huge difference. Of course, I'm talking about the one and 0:01:26.600 --> 0:01:29.440 only Ray Daria. Ray. Thank you for being here, Thank 0:01:29.480 --> 0:01:33.120 you for doing this pleasure all of these times. I 0:01:33.200 --> 0:01:34.920 love it. Yeah, it's a joy to see you. After 0:01:35.000 --> 0:01:37.760 three years. We did one digital into it, maybe even two. 0:01:37.800 --> 0:01:39.880 I think we did in the middle of the pandemic. 0:01:39.920 --> 0:01:42.320 Maybe this is your fourth time. Actually, maybe I'm completely wrong, 0:01:42.360 --> 0:01:44.760 but either way, I'm just always grateful to be in 0:01:44.800 --> 0:01:46.839 your presence. I learned so much from you. I remember. 0:01:46.880 --> 0:01:48.960 I want to share this because the first time I 0:01:49.000 --> 0:01:52.840 met you, i'd heard so much about you, and you know, 0:01:52.960 --> 0:01:56.560 your reputation precedes you and you have this, you know, 0:01:56.680 --> 0:02:00.160 huge brand beyond just I'm not talking about brand in 0:02:00.240 --> 0:02:02.400 terms of social media. I think in the business world, 0:02:02.920 --> 0:02:04.200 and I had no idea what you were going to 0:02:04.280 --> 0:02:05.960 be like, and I was I was nervous. I was. 0:02:06.640 --> 0:02:08.560 It was three years ago, but that was early in 0:02:08.600 --> 0:02:12.160 my career of doing this, and I was thinking to myself, 0:02:12.160 --> 0:02:13.280 I was like, what's he going to be like? I 0:02:13.360 --> 0:02:15.760 have no idea, like, you know, how should I behave 0:02:15.800 --> 0:02:17.920 around it? And then you came in and you were 0:02:17.960 --> 0:02:21.600 the most charming, disarming individual that i'd met. You're so 0:02:21.680 --> 0:02:23.760 comfortable to be around. I was telling my whole team that, 0:02:23.800 --> 0:02:26.359 I was like you you forget everything in your presence. 0:02:26.400 --> 0:02:30.960 You make everyone feel very comfortable, very respected, very very wanted, 0:02:30.960 --> 0:02:33.200 and very valued. And I think that's a huge gift. 0:02:33.200 --> 0:02:35.320 So I wanted to say that because I probably have 0:02:35.360 --> 0:02:37.200 not told you that, but yes, two years ago, its 0:02:37.280 --> 0:02:41.239 very nervous. Well, there are times where there's u and 0:02:41.400 --> 0:02:44.280 a spree of core that there are similar values that 0:02:44.520 --> 0:02:47.359 you're going after similar things, and you can also play 0:02:47.520 --> 0:02:50.200 jazz together. It's almost like when we're right now, it's 0:02:50.240 --> 0:02:52.680 almost like we can be playing together. Yeah, I love 0:02:52.760 --> 0:02:56.160 and we have that, so I have the same respect 0:02:56.200 --> 0:02:58.400 and we could, so let's go play some jazz. Yeah, 0:02:58.480 --> 0:02:59.640 let's do it. I was going to ask you, do 0:02:59.680 --> 0:03:03.360 you the first time you ever felt fear meeting someone, 0:03:03.480 --> 0:03:06.359 because I know you talk a lot about the truth 0:03:06.440 --> 0:03:09.160 and fearlessness, but Yeah, was there ever a time when 0:03:09.200 --> 0:03:12.840 you remember meeting a mentor a business person, a person 0:03:12.880 --> 0:03:14.880 in your world where you felt a sense of fear 0:03:14.919 --> 0:03:18.520 and how you dealt with that. My reactions tend to 0:03:18.560 --> 0:03:22.920 be more alike excitement. There's a nervous excitement. Yes, nervous 0:03:22.919 --> 0:03:25.560 excitement is probably the right way. Yeah, yes, because I'm 0:03:25.639 --> 0:03:29.760 walking in and I'm thinking okay, wow, okay. But it's 0:03:30.000 --> 0:03:33.120 a little bit like life, you know, the question at 0:03:33.120 --> 0:03:39.320 certain moments is that excitement For some people? It's excitement. 0:03:39.400 --> 0:03:42.520 For some people it's fear. And it's not just at 0:03:42.560 --> 0:03:46.600 those moments of meeting somebody like that. It happens a 0:03:46.640 --> 0:03:50.280 lot in life, you know. It's almost ambiguity, a taste 0:03:50.280 --> 0:03:54.160 for adventure. I think I'm more of the taste for adventure, 0:03:54.520 --> 0:03:58.400 So I will nervously go in, maybe with some palpitations 0:03:59.000 --> 0:04:02.440 and feeling more excitement at it, Like I feel excited 0:04:02.480 --> 0:04:05.600 about this. I think that's a great refinement. I would 0:04:05.600 --> 0:04:08.320 say I feel the same way. It's a nervous excitement. 0:04:09.320 --> 0:04:11.400 That's something special you have. You have this ability to 0:04:11.440 --> 0:04:15.080 be really clear about words, read really clear about emotions 0:04:15.080 --> 0:04:16.720 when you read your work, when you're in your work, 0:04:17.320 --> 0:04:21.240 was clarity something that you always found easy or how 0:04:21.279 --> 0:04:24.080 did you develop that ability to be so clear about 0:04:24.080 --> 0:04:25.960 the language you use even just what you did now 0:04:26.000 --> 0:04:27.960 it was like I used a word and actually I 0:04:27.960 --> 0:04:30.280 feel this, And I'm like, yeah, actually I feel that too, 0:04:30.360 --> 0:04:33.600 So tell me where that refinement came. I honestly don't know. 0:04:34.360 --> 0:04:38.120 I have a lousy rope memory. That means, I mean 0:04:38.279 --> 0:04:41.080 really rope memory means like, if it doesn't have a 0:04:41.120 --> 0:04:43.159 reason for being what it is, like a phone number 0:04:43.240 --> 0:04:45.880 or name or anything like that, like I'm terrible, and 0:04:45.960 --> 0:04:49.400 if it and in school terrible, you know, memorize this man. 0:04:49.760 --> 0:04:53.240 But if it's within a context and there's a story 0:04:53.360 --> 0:04:56.680 orhere there's something, I have a superb memory of how 0:04:56.680 --> 0:04:59.600 that transpires. Well, I think I was born that way, 0:05:00.040 --> 0:05:02.960 and so by being born that way, I'm wondering does 0:05:03.040 --> 0:05:08.279 that enter into this particular question. And then I think 0:05:08.360 --> 0:05:11.480 my job requires me to be thinking in terms of 0:05:11.680 --> 0:05:15.480 fact sort of clarity. But I really don't know. Yeah, yeah, no, 0:05:15.560 --> 0:05:17.920 I mean it's fascinating for us to at least learn 0:05:17.920 --> 0:05:20.039 that and perceive that in you. But it seems like 0:05:20.040 --> 0:05:22.760 you've done a lot of reverse engineering as well to 0:05:22.960 --> 0:05:26.719 create the principles in the first place, like observing success, 0:05:26.800 --> 0:05:30.240 observing failure, observing wins. It seems like there's been no 0:05:30.400 --> 0:05:32.400 you're putting your finger on it. You know. What I 0:05:32.440 --> 0:05:34.719 did is I got into habit at a very early 0:05:34.800 --> 0:05:39.320 age that whenever I would make a decision, I would 0:05:39.440 --> 0:05:43.800 pause and reflect, particularly if it was a painful decision 0:05:44.200 --> 0:05:47.120 or a painful moment, I pause and reflect. I have 0:05:47.120 --> 0:05:52.160 a principal pain plus reflection equals progress. And then I 0:05:52.200 --> 0:05:55.760 would write down my reflections. That's why the journal. I 0:05:55.800 --> 0:05:58.520 would literally use a journal. This journal, by the way, 0:05:58.600 --> 0:06:02.920 is connected to an app that facilitates that. But and 0:06:02.960 --> 0:06:05.440 that's what I want to pass along. And I think 0:06:05.440 --> 0:06:09.360 that that helped my clarity because at that moment of 0:06:09.400 --> 0:06:13.320 stepping back, when there is greater clarity, when there's calmness 0:06:13.360 --> 0:06:17.000 after the storm maybe or the excitement of the adventure, 0:06:17.120 --> 0:06:21.760 whatever it is, that you're reflecting on that reflection, writing 0:06:21.760 --> 0:06:25.360 it down and thinking about it and thinking, am I clear? 0:06:25.680 --> 0:06:29.839 I think helps my I know helps my clarity a lot. Wow. 0:06:30.000 --> 0:06:34.200 I remember a few years ago when you went to something, 0:06:34.440 --> 0:06:38.400 you know, extremely tragic. I emailed you just just a 0:06:38.520 --> 0:06:43.080 note of love and support, and you quoted that back 0:06:43.080 --> 0:06:45.440 to me then in an email, and I was just 0:06:45.440 --> 0:06:48.000 blown away by that, because I have quoted pain plus 0:06:48.000 --> 0:06:51.480 reflection equals progress by you a million times. I think 0:06:51.480 --> 0:06:54.039 I repeat that in every keynote I give because I 0:06:54.040 --> 0:06:58.240 think it's such a powerful it's such a powerful principle 0:06:58.279 --> 0:07:02.279 because as soon as you remove the word reflection, progress 0:07:02.320 --> 0:07:05.360 disappears and all you're left with is pain. And when 0:07:05.400 --> 0:07:07.960 you repeated that back to me in that moment, I thought, Wow, 0:07:08.040 --> 0:07:11.600 Like to remember that principle in this moment requires so 0:07:11.680 --> 0:07:15.560 much just so much depth. And I was truly blown 0:07:15.600 --> 0:07:17.720 away by that because it's one thing writing it, and 0:07:17.760 --> 0:07:20.480 it's another thing living in the incident that you're referring 0:07:20.520 --> 0:07:23.000 to is the worst thing that could ever have happened 0:07:23.040 --> 0:07:26.840 to me. I would have rather died than have it happened. 0:07:26.920 --> 0:07:29.280 Was the loss of my son. Yeah, but you know, 0:07:29.440 --> 0:07:35.320 meditation helps a lot, right, So meditation and reflection, because 0:07:35.880 --> 0:07:40.640 whenever there's pain, there's a reality. It tells you something 0:07:40.680 --> 0:07:44.800 about reality, and it tells you something about how to 0:07:45.000 --> 0:07:50.120 deal with reality. The reflections. Yeah, life is life. It 0:07:50.160 --> 0:07:54.600 comes at you. It is reality. You can't change it, Okay, 0:07:54.760 --> 0:07:58.080 you can influence it. Based on your reactions. But you 0:07:58.160 --> 0:08:00.680 have to deal with it and have to deal with 0:08:00.720 --> 0:08:04.960 it in a calm way. So meditation helps you be calm. 0:08:05.240 --> 0:08:08.160 It helps you see the clarity and then move beyond 0:08:08.240 --> 0:08:10.520 that to deal with the circumstance as well. I think, 0:08:10.680 --> 0:08:12.400 how did you come to accept that? I think a 0:08:12.400 --> 0:08:16.600 lot of people struggle with accepting that life's going to 0:08:16.640 --> 0:08:17.960 come at you, it's going to do what it wants. 0:08:17.960 --> 0:08:19.760 I think we have a desire for control. And when 0:08:19.800 --> 0:08:22.880 someone looks at someone as successful as you, they would 0:08:23.440 --> 0:08:26.480 infer that, oh, Ray probably is good at controlling things. 0:08:26.520 --> 0:08:29.560 He's probably good at making things happen. What is that 0:08:29.640 --> 0:08:32.120 balance or what have you discovered about the idea of 0:08:32.160 --> 0:08:35.520 like control and acceptance? Like where where do you live 0:08:35.520 --> 0:08:37.920 in between that space? Well? I think you know keeps 0:08:37.960 --> 0:08:42.400 coming back the serenity prayer. God, give me the serenity 0:08:42.440 --> 0:08:45.920 to accept that which I can't control, and give me 0:08:46.000 --> 0:08:49.080 the power to control that which I can, and the 0:08:49.080 --> 0:08:51.240 wisdom to tell the difference. And I think that that 0:08:51.320 --> 0:08:54.160 really guides it. You know, what is your best and 0:08:54.200 --> 0:09:00.720 so it is the combination of acceptance but also the 0:09:00.920 --> 0:09:05.320 desire to influence, right, and so yeah, and if you're 0:09:05.360 --> 0:09:09.400 going to influence, you have to have that equanimity, you know, 0:09:09.640 --> 0:09:12.800 like a ninja. You know there are things coming at 0:09:12.840 --> 0:09:16.920 you and you can't be hijacked by your emotions and 0:09:17.040 --> 0:09:21.160 the smartness of your move will determine the outcomes. And 0:09:21.280 --> 0:09:25.720 how do you learn that? Because it produces better results 0:09:26.040 --> 0:09:29.120 and the other one produces bad results. And it's like, 0:09:29.160 --> 0:09:31.080 do you learn anything, It's the same way you learn 0:09:31.280 --> 0:09:34.800 don't put your hand on a hot stove. Yeah, absolutely, absolutely. 0:09:34.840 --> 0:09:36.559 I love that because I think we live in the 0:09:36.600 --> 0:09:38.840 world right now where it's like is it this way 0:09:38.920 --> 0:09:41.760 or that way? It's always is either or, and you're saying, well, no, 0:09:41.800 --> 0:09:44.360 it's both. Right. We need both acceptance and control. We 0:09:44.440 --> 0:09:48.240 need both desires, and I think often we get lost thinking, right, 0:09:48.240 --> 0:09:50.040 it's one or the other, you can only choose one. 0:09:50.480 --> 0:09:55.920 And in all either of those cases, it's reality. Okay, 0:09:56.000 --> 0:10:00.120 you're dealing with reality, so to go above it. It 0:10:00.320 --> 0:10:04.920 is so important you know, here I am in this situation, 0:10:05.960 --> 0:10:10.240 and what do I do? What resources can I use? 0:10:10.679 --> 0:10:13.920 Who might I speak with for help? All of that 0:10:14.400 --> 0:10:17.240 helps you navigate because you still have to do with 0:10:17.280 --> 0:10:21.320 the reality. Yes, absolutely absolutely. When when did you we're 0:10:21.360 --> 0:10:23.800 doing much my principle as the journal, and I know, 0:10:23.840 --> 0:10:25.440 like you said, there's an app attached to it. And 0:10:25.480 --> 0:10:29.280 for anyone who's wondering why this journal is different, there's 0:10:29.280 --> 0:10:31.240 so many reasons why it's different. A because it has 0:10:31.280 --> 0:10:34.040 better prompts than most journals I've seen. But it also 0:10:34.080 --> 0:10:36.280 has this QR code that kind of you can scan 0:10:36.440 --> 0:10:39.240 on every page. And so whether it's doing the assessment 0:10:39.320 --> 0:10:41.480 or whether in this case it's what's a case study 0:10:41.480 --> 0:10:44.640 of this principle in action, it's it's an interactive journal, right, 0:10:44.640 --> 0:10:46.199 which is very different. I think we have lots of 0:10:46.280 --> 0:10:49.680 journals where we write with a pendant, you're jotting down 0:10:49.679 --> 0:10:51.880 your thoughts. But here, if you can see, there's you 0:10:52.120 --> 0:10:55.240 exercises included as well. When did you I'm intrigued, when 0:10:55.280 --> 0:10:59.760 did your personal journaling practice start ray? Or about twenty 0:10:59.800 --> 0:11:03.640 five years ago? But I want to say that by 0:11:03.720 --> 0:11:06.960 being it gives you sort of an option. Do I 0:11:07.040 --> 0:11:11.760 want to have what I'm doing saved online so then 0:11:11.800 --> 0:11:13.559 I can play around with it? In other words, I 0:11:13.640 --> 0:11:16.520 got the data. So now once I've got the data 0:11:16.600 --> 0:11:20.040 online rather than on piece of paper, you can do 0:11:20.160 --> 0:11:24.440 things with it. But sometimes that piece of paper. But 0:11:24.559 --> 0:11:29.400 I started about I guess about twenty five, maybe thirty 0:11:29.480 --> 0:11:33.200 years ago. I can't tell you. I started. When I 0:11:33.240 --> 0:11:37.199 started build my company, it was a point of having 0:11:37.240 --> 0:11:41.360 sixty seven people. I remember it because every holiday season 0:11:42.280 --> 0:11:44.760 I would you know, I started my company from nothing, 0:11:45.160 --> 0:11:47.920 so I had two people, four people. Well, okay, we 0:11:47.960 --> 0:11:50.439 got up to sixty seven. I remember it was sixty 0:11:50.440 --> 0:11:55.040 seven because it was holiday season, and every holiday I 0:11:55.080 --> 0:11:59.160 would shop for their individual gifts and I'd write each 0:11:59.200 --> 0:12:03.880 individual law notes. And that was then long enough take 0:12:04.000 --> 0:12:07.120 took me long enough to realize that I really need 0:12:07.120 --> 0:12:12.640 to communicate better with them. I also journaled because I 0:12:12.760 --> 0:12:15.960 needed to write down my decision rules for the markets 0:12:16.920 --> 0:12:20.160 so that I could go back test them. So it's 0:12:20.200 --> 0:12:23.400 a very great power if you can know what your 0:12:23.440 --> 0:12:27.079 criteria would be and then say how would they have 0:12:27.160 --> 0:12:29.360 worked in the past, how would they have worked in 0:12:29.400 --> 0:12:32.520 this country or that country, Because then you're not just 0:12:32.760 --> 0:12:36.160 making decisions, you have perspective on making the decisions. So 0:12:36.200 --> 0:12:40.600 those two things together got me into journaling. I wanted 0:12:40.640 --> 0:12:44.079 the world, my world, my people I worked with. We 0:12:44.080 --> 0:12:47.120 went up to fifteen hundred people. How do you communicate 0:12:47.559 --> 0:12:50.560 in a really good way? And it wasn't just journaling, 0:12:50.640 --> 0:12:55.120 but then also I would combine the journaling with videos 0:12:55.120 --> 0:12:58.440 of cases. My culture was to have meaningful work and 0:12:58.520 --> 0:13:03.679 meaningful relationships through radical truthfulness and radical transparency. So what 0:13:04.320 --> 0:13:08.000 we would do is video everything or tape everything for 0:13:08.040 --> 0:13:10.679 everybody to see so that way they could see it. 0:13:10.720 --> 0:13:14.079 And so by taking the principles and putting them together 0:13:14.160 --> 0:13:18.240 with the situations, it was fabulous exposure. So everybody was 0:13:18.280 --> 0:13:21.520 always informed and they were going through like this reality 0:13:21.600 --> 0:13:25.280 TV type experience and that, and then they would give 0:13:25.480 --> 0:13:29.080 answers as they were going through the experience because that 0:13:29.120 --> 0:13:32.720 way they would have that experience, but imagine a reality 0:13:32.760 --> 0:13:36.760 TV experience, but it's your reality around you, and then 0:13:36.800 --> 0:13:40.720 you're making these this input and then that input would 0:13:40.720 --> 0:13:43.120 be able to know what people would think. So we 0:13:43.240 --> 0:13:47.160 found all that experience really well. So we took the journals, 0:13:47.400 --> 0:13:51.680 the journaling of the principles I did, and put that 0:13:51.800 --> 0:13:55.000 together with the videos. And that's that's on this app 0:13:55.440 --> 0:14:00.559 Principles in Action. It's called Principles in Action and it's 0:14:01.320 --> 0:14:05.480 rated four point nine. People love it. But that journaling experience, 0:14:05.520 --> 0:14:10.640 that reflecting and reflecting together and communicating together helps the people, 0:14:11.080 --> 0:14:15.400 bring people together, and it also helps people understand because 0:14:15.440 --> 0:14:18.000 too much stuff is stuck up here. Oh wow, I 0:14:18.000 --> 0:14:20.840 mean just hearing that. There's so many levels of journaling there. 0:14:20.840 --> 0:14:23.920 There's the journaling of, like you're saying, you're writing down 0:14:23.960 --> 0:14:26.800 your principles of the gifts and working with people. Then 0:14:26.840 --> 0:14:31.120 there's the journaling of even videoing everything. I mean, that's journaling, right, 0:14:31.160 --> 0:14:35.280 you're documenting it. It's recorded, it's there to reflect upon. 0:14:36.080 --> 0:14:38.960 The most brilliant part about that, though, is that I 0:14:39.000 --> 0:14:41.840 think today people have started to think journaling just means 0:14:41.840 --> 0:14:45.240 writing down your feelings or writing down your thoughts. We're 0:14:45.320 --> 0:14:47.680 just yeah, this is no no. I mean I think 0:14:47.680 --> 0:14:50.480 it's good to write down your feelings, of course, yeah, 0:14:50.520 --> 0:14:53.240 sort of bringing them forward to look up to and 0:14:53.320 --> 0:14:55.680 to look at them. Is that that's a good exercise. 0:14:56.120 --> 0:14:59.000 Religion is not is a way of life as an 0:14:59.000 --> 0:15:04.160 approach to life. I don't mean the god part of religion. 0:15:04.360 --> 0:15:06.840 I mean just how do you how do you approach life? 0:15:07.000 --> 0:15:11.320 And you get to make that decision, and so it's 0:15:11.360 --> 0:15:14.840 really when you're in a situation, what are you going 0:15:14.920 --> 0:15:18.000 to do in that situation and why? And of course 0:15:18.040 --> 0:15:22.080 it starts with your deeper needs, whatever they may be. 0:15:22.520 --> 0:15:24.840 What do I want out of life? Who do I 0:15:24.880 --> 0:15:28.960 want to be with? What are the directions? Okay, and 0:15:29.000 --> 0:15:32.280 then it comes down to the particulars, and the particulars 0:15:32.400 --> 0:15:37.720 can be aspirational. I'm seventy three years old. I know 0:15:37.800 --> 0:15:39.920 that at this particular part in life, I want to 0:15:39.960 --> 0:15:42.520 pass along the things that are valuable for me. It 0:15:42.600 --> 0:15:45.760 could be on how do you fire a person? How 0:15:46.280 --> 0:15:48.840 how do you treat that person? It could be what 0:15:49.000 --> 0:15:53.200 is your relationship life? And so those are the principles. 0:15:53.240 --> 0:15:56.920 It's not just it's not journaling feelings and so that 0:15:56.920 --> 0:15:59.480 I found that very very valuable. But I'm in a 0:15:59.520 --> 0:16:01.760 new phase of my life in which what I'm going 0:16:01.800 --> 0:16:04.920 to do is get the best principles from everyone. I've 0:16:04.960 --> 0:16:07.800 been passing along my principles and so on, and it's 0:16:07.840 --> 0:16:10.800 been people find it helpful. What a joy it is, 0:16:11.440 --> 0:16:15.080 as you must experience when people say, oh my god, 0:16:15.120 --> 0:16:18.800 you've changed my life. But other people can do it. 0:16:19.160 --> 0:16:22.280 You're doing it. And I say to so many people 0:16:23.320 --> 0:16:27.120 who are really very very successful, people who have never 0:16:27.200 --> 0:16:30.880 written down their principles, that they're going to die with them. 0:16:31.320 --> 0:16:35.920 And if they instead write them down and make them clear. 0:16:36.520 --> 0:16:39.640 Then they're teaching other people because there's a life arc, right. 0:16:39.760 --> 0:16:44.560 We have experiences that things of decisions we make that 0:16:44.600 --> 0:16:48.640 make us successful, okay, including how to deal with pain, 0:16:49.240 --> 0:16:52.600 and so if we write those things down, we can 0:16:52.680 --> 0:16:55.640 help other people. And I think, like, I probably won't 0:16:55.680 --> 0:17:00.520 be around to speak to my grandchildren in the way 0:17:00.520 --> 0:17:02.760 that I would like to then, but they will have 0:17:02.800 --> 0:17:06.960 those principles. And so now my aspiration is to get 0:17:07.000 --> 0:17:11.440 the best principles from wherever they come from. So this 0:17:11.520 --> 0:17:15.399 journal will be accompanied by an ability for people to 0:17:15.560 --> 0:17:18.960 submit their principles, and I'm doing that also with the 0:17:19.160 --> 0:17:22.760 most successful, impactful people in the world. That's why I'm 0:17:22.760 --> 0:17:27.040 going to regrabbing your principles and that'll be put online 0:17:27.480 --> 0:17:31.360 so that people can vote up what are the best principles. 0:17:31.560 --> 0:17:34.600 They could either go to Jay Chetti's principles or they 0:17:34.600 --> 0:17:37.359 can say, all through that vote and what's the best 0:17:37.359 --> 0:17:40.760 principle for the thing I'm dealing with? So that way 0:17:40.760 --> 0:17:43.080 they can look and they say, I am dealing with 0:17:43.119 --> 0:17:46.720 this situation, push the bus, and then what are the 0:17:46.720 --> 0:17:51.120 best principles for that situation wherever they come from, and 0:17:51.160 --> 0:17:54.200 then they could choose their principles and that's I think 0:17:54.280 --> 0:17:57.040 foundational for life. Yeah, that's fantastic, and I know that's 0:17:57.040 --> 0:17:59.320 what you're focusing with this is like you want people 0:17:59.359 --> 0:18:01.440 to come up with their own Yeah, and that's going 0:18:01.480 --> 0:18:03.880 to mean being exposed to a lot of different ideas, 0:18:03.880 --> 0:18:06.919 a lot of different insights to find what they can 0:18:06.960 --> 0:18:09.840 hold on to and then develop themselves. Did you always think? 0:18:09.880 --> 0:18:11.800 You've always said that to me since I've met you, 0:18:11.840 --> 0:18:14.040 And obviously that's been the journey that you're on right now, 0:18:14.080 --> 0:18:16.720 that this phase in your life is giving back and 0:18:17.040 --> 0:18:20.000 sharing the principles you've learned. Have you always had a 0:18:20.119 --> 0:18:22.880 vision for different stages of your life? And I don't 0:18:22.880 --> 0:18:25.280 mean a five year, ten year plan. I mean more 0:18:25.320 --> 0:18:27.960 of like, this is the world I'm walking into? Like, 0:18:28.200 --> 0:18:30.560 is that how you that day? I don't know how 0:18:30.600 --> 0:18:34.440 many years ago I started to realize the arc of life, right. 0:18:34.600 --> 0:18:37.360 There's actually an exercise in the book on the arc 0:18:37.400 --> 0:18:42.160 and life, the arc in life, Yeah, and these are 0:18:42.320 --> 0:18:46.000 all the different things that happened to you at that stage. 0:18:46.040 --> 0:18:51.080 It's almost like a script. And by going down this script, 0:18:51.720 --> 0:18:55.840 one could see where one is and one could see 0:18:55.880 --> 0:18:57.960 the things that are going to come at them. I 0:18:58.080 --> 0:19:00.840 started to realize that in a big picture pit I 0:19:00.840 --> 0:19:03.680 don't know. Maybe it was twenty five thirty years ago, 0:19:03.720 --> 0:19:07.000 I can't say. But then I began to research it 0:19:07.680 --> 0:19:11.879 and understand it a lot greater, and then I began 0:19:12.000 --> 0:19:16.200 to feel it. You feel it again. When you can 0:19:16.280 --> 0:19:22.400 connect intellectually what's happening with subliminally and emotionally what's happening 0:19:22.440 --> 0:19:26.840 to you, you gain perspective and so this, like this phase, 0:19:28.200 --> 0:19:31.800 it's not just an intellectual thing. I don't know. Maybe 0:19:32.240 --> 0:19:37.600 nature has programmed us in our minds to have these 0:19:38.119 --> 0:19:42.000 needs and feelings at certain age. So I know that now, 0:19:42.480 --> 0:19:45.280 like the greatest joy that I can have is to 0:19:45.320 --> 0:19:48.360 help people be successful without me. I mean, I know 0:19:48.800 --> 0:19:52.840 what my time arising is. And I know that my 0:19:52.960 --> 0:19:57.520 greatest joy is not any longer in being successful myself. 0:19:58.440 --> 0:20:00.840 That that was great aid, and it is fine and 0:20:00.880 --> 0:20:02.359 so on, but I don't need more of that, And 0:20:02.440 --> 0:20:05.520 I really my greatest joy is in helping other people. 0:20:05.720 --> 0:20:09.720 And I can't say whether that is a instinctual, how 0:20:09.800 --> 0:20:13.320 much it's instinctual, how much it's cerebral by seeing that 0:20:13.440 --> 0:20:17.359 stage in life, but it's apparent. Yeah, no, absolutely, And 0:20:17.400 --> 0:20:20.520 you're doing It. 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We were talking 0:22:07.240 --> 0:22:09.760 about this just before we started filming, but this idea 0:22:09.800 --> 0:22:12.840 of like coaching and mentorship, right what you're saying is 0:22:13.040 --> 0:22:15.959 you're trying to preserve this coaching and mentorship for your 0:22:16.000 --> 0:22:20.280 grand creds, great grandkids, everyone else's grandkids and great grandkids 0:22:20.280 --> 0:22:24.000 as well that will have access to this. And journaling 0:22:24.080 --> 0:22:26.600 is someone that we see so many greats did as well. 0:22:26.640 --> 0:22:29.480 It's a practice that has stood the test of time. 0:22:30.400 --> 0:22:34.040 There are two schools of thought Some entrepreneurs believe that 0:22:34.280 --> 0:22:37.439 mentors and coaches are a huge integral part of their life. 0:22:37.560 --> 0:22:42.320 I know that I've had spiritual mentors, financial mentors, career mentors, 0:22:42.320 --> 0:22:44.120 other mentors in every area of my life. I see 0:22:44.119 --> 0:22:46.639