{{Short description|2017 book by Ray Dalio}} {{Use American English|date=April 2019}} {{Use mdy dates|date=April 2019}} {{Infobox book | name = Principles: Life & Work | author = Ray Dalio | image = Principles (book).jpg | caption = First edition | subject = | pub_date = September 19, 2017 | publisher = Simon & Schuster | media_type = Print (hardcover) | pages = 592 | isbn = 1501124021 | oclc = 978287244 }}
'''''Principles: Life & Work''''' is a 2017 book by hedge fund manager and author Ray Dalio based on principles he had developed while leading Bridgewater Associates. The Principles were also made into a short video series by the author.<ref>{{Cite web|url=https://www.principles.com/principles-for-success/|title=Principles for Success|last=Dalio|first=Ray|website=www.principles.com|language=en|access-date=2020-01-19}}</ref> According to ''The New York Times'', staff at Bridgewater were involved in the writing of the book.<ref name=":0">{{Cite news |last=Copeland |first=Rob |date=2023-11-01 |title=How Does the World's Largest Hedge Fund Really Make Its Money? |language=en-US |work=The New York Times |url=https://www.nytimes.com/2023/11/01/business/how-does-the-worlds-largest-hedge-fund-really-make-its-money.html |issn=0362-4331}}</ref>
The book was on ''The New York Times'' Best Seller List<ref>{{Cite news |last=Sorkin |first=Andrew Ross |date=2017-09-05 |title=Bridgewater's Ray Dalio Dives Deeper Into the 'Principles' of Tough Love |url=https://www.nytimes.com/2017/09/04/business/ray-dalio-book-bridgewater.html |access-date=2024-06-30 |work=The New York Times |language=en-US |issn=0362-4331}}</ref> and was the top business book of 2017 on Amazon.<ref>{{Cite news |last=Varadarajan |first=Tunku |date=November 19, 2021 |title='Principles for Dealing With the Changing World Order' Review: Trouble Ahead, As Usual |url=https://www.wsj.com/articles/principles-for-dealing-with-the-changing-world-order-book-review-ray-dalio-trouble-ahead-as-usual-11637335545 |access-date=June 30, 2024 |work=The Wall Street Journal}}</ref> Despite the book's commercial success and several notable endorsements, few people actually implement the principles.<ref>{{Cite web|title=Ray Dalio's Book Has Sold a Million Copies. But Who's Actually Implementing His Ideas?|url=https://www.institutionalinvestor.com/article/b184ggn6dd6090/ray-dalio%E2%80%99s-book-has-sold-a-million-copies-but-who%E2%80%99s-actually-implementing-his-ideas|url-status=live|archive-url=https://web.archive.org/web/20181231194032/https://www.institutionalinvestor.com/article/b184ggn6dd6090/ray-dalio%E2%80%99s-book-has-sold-a-million-copies-but-who%E2%80%99s-actually-implementing-his-ideas|archive-date=2018-12-31|access-date=2018-12-31|website=Institutional Investor |first1=Angelo |last1=Calvello |date=2018-05-10}}</ref>
== Development ==
After receiving a frank memo from his top lieutenants in 1993 concerning his interpersonal performance as a manager, Bridgewater Associates' Ray Dalio began to develop a unique company culture based on principles and unadorned feedback. He originally published a shorter version of ''Principles'' online in 2011, where it received over three million downloads. It was officially released as ''Principles: Life & Work'' on September 19, 2017,{{r|NYT-deeper}} by Simon & Schuster.{{r|NYT-gospel}} ==Reception== The book achieved excellent commercial success selling over five million copies worldwide. It quickly became #1 on ''New York Times bestseller''. It was endorsed by numerous prominent figures including Bill Gates and Arianna Huffington. Referring to the book, Gates said it provided him with "invaluable guidance and insights."<ref>{{cite web|url=https://www.simonandschuster.com/books/Principles/Ray-Dalio/9781501124020|title=Principles|publisher=Simon & Schuster|access-date=January 23, 2026}}</ref>
The ''New York Times'' described the book as "instructive and surprisingly moving."<ref>{{Cite news |date=2017-09-05 |title=Bridgewater’s Ray Dalio Dives Deeper Into the ‘Principles’ of Tough Love (Published 2017) |url=https://www.nytimes.com/2017/09/04/business/ray-dalio-book-bridgewater.html |archive-url=http://web.archive.org/web/20250918163127/https://www.nytimes.com/2017/09/04/business/ray-dalio-book-bridgewater.html |archive-date=2025-09-18 |access-date=2026-01-23 |language=en}}</ref>
In his book, ''The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend'', Rob Copeland has heavily criticized Dalio's principles and their implementation at Bridgewater Associates. Copeland argued that the company's "radical transparency" has led to various issues including harassment, surveillance, and public shaming of employees.<ref>{{cite magazine |url=https://www.newyorker.com/books/under-review/a-hedge-fund-founders-obsessive-storytelling |title=A Hedge-Fund Founder’s Obsessive Storytelling |author=Jessica Pressler |magazine=The New Yorker |date=November 16, 2023 |access-date=January 23, 2026}}</ref><ref>{{cite news |url=https://www.nytimes.com/2023/11/06/books/review/the-fund-rob-copeland.html |title=Book Review: ‘The Fund,’ by Rob Copeland |work=The New York Times |date=November 6, 2023 |access-date=January 23, 2026}}</ref>
== References == {{Reflist|refs=
<ref name="NYT-deeper">{{Cite news |last1=Sorkin |first1=Andrew Ross |title=Bridgewater's Ray Dalio Dives Deeper Into the Principles of Tough Love |work=The New York Times |date=2017-12-22 |url=https://www.nytimes.com/2017/09/04/business/ray-dalio-book-bridgewater.html |language=en-US |issn=0362-4331 |df=mdy-all }}</ref><!-- more in source -->
<ref name="NYT-gospel">{{Cite news |last1=Stevenson |first1=Alexandra |last2=Goldstein |first2=Matthew |title=Bridgewater's Ray Dalio Spreads His Gospel of Radical Transparency |work=The New York Times |date=2017-09-08 |url=https://www.nytimes.com/2017/09/08/business/dealbook/bridgewaters-ray-dalio-spreads-his-gospel-of-radical-transparency.html |language=en-US |issn=0362-4331 |df=mdy-all }}</ref>
}}
== Further reading == {{Refbegin}}
* {{Cite news |last1=Corkery |first1=Michael |title=Money Talks: A Hedge-Fund King Philosophizes on Truth and Weasels |work=Wall Street Journal |date=2010-06-19 |url=https://www.wsj.com/articles/SB10001424052748704256604575294381732663678 |language=en-US |issn=0099-9660 |df=mdy-all }} * {{Cite web |last1=Fessler |first1=Leah |title=Bridgewater's Ray Dalio turned his management principles into an animated adventure show |work=Quartz at Work |date=2018-05-17 |url=https://qz.com/work/1279629/bridgewater-ceo-ray-dalio-turned-his-management-principles-into-an-animated-video-series/ |language=en |access-date=2019-04-14 |df=mdy-all }} * {{Cite web |last1=Johnson |first1=Eric |title=Bridgewater Associates founder Ray Dalio has a 'magical formula' for better decision-making |work=Recode |date=2017-11-06 |url=https://www.recode.net/2017/11/6/16610878/bridgewater-associates-ray-dalio-book-principles-life-work-decision-formula-kara-swisher-podcast |access-date=2019-04-13 |df=mdy-all }} * {{Cite web |last1=Malkiel |first1=Burton G. |title=Ray Dalio's Principles for Success |work=Barron's |date=2017-11-11 |url=http://www.barrons.com/articles/ray-dalios-principles-for-success-1510374544 |language=en-US |access-date=2019-04-14 |df=mdy-all }} * {{Cite web |last1=O'Keefe |first1=Brian |title=An Inside Look at What it Was Like to Work at Bridgewater in 2009 |work=Fortune |date=2016-07-28 |url=http://fortune.com/2016/07/28/bridgewater-ray-dailo/ |language=en |access-date=2019-04-13 |df=mdy-all }} * {{Cite web |last1=Ovide |first1=Shira |title=More on Bridgewater's Ray Dalio, Wall Street's Oddest Duck |work=Wall Street Journal |date=2010-10-22 |url=https://blogs.wsj.com/deals/2010/10/22/more-on-bridgewaters-ray-dalio-wall-streets-oddest-duck/ |language=en-US |access-date=2019-04-13 |df=mdy-all }}
{{Refend}} ==See also== * Bridgewater Associates * Self-help * Ray Dalio * The Changing World Order * How Countries Go Broke
==External links== * {{cite journal|title=Principle For Success by Ray Dalio (In 30 Minutes)|date=May 21, 2018|publisher=Principles by Ray Dalio|website=YouTube|url=https://www.youtube.com/watch?v=B9XGUpQZY38}}
{{Authority control}}
Category:2017 non-fiction books Category:Business books Category:English-language non-fiction books Category:Simon & Schuster books