Dalio & Diddy

December 11, 2019 9:50 AM

Diddy & His Mentor Ray Dalio | Inside a Meeting

[via Bloomberg's Matt Levine, who says I found this conversation educational, but I can’t really believe that Diddy did. The thing that I mostly thought, watching this video, was just, why do these people have time for this? Aren’t they busy? Don’t they have businesses to run or yachts to sunbathe on? What do they get out of this? Surely it is not just tips on how to hire help. Surely it is branding and cross-promotion: Dalio gets to be the sort of hedge-fund billionaire who hangs out with rap moguls; Diddy gets to be the sort of rap mogul who hangs out with hedge-fund billionaires. If you’re successful enough, the real payoff is not that you can hire talented people for relative peanuts to do work for you; the real payoff is that you can get really talented people to further your success for free, because you’re doing the same for them. ]

posted by chavenet (1 comment total)

I'm with Matt Levine on this: they are both rubbing each others' financial and street creds on each other. They both mistakenly assume that success in one place will lead to success anywhere for others.

Frankly I am a little more impressed that Diddy has been successful in a hostile and competitive industry with few retired rappers as leaders. There is no good reason successful hip hop artists shouldn't be in a similar position.

Fun fact: There are over 200,000 links to the words Dalio and cult. Many of his critics have discussed how radical transparency and other aspects of his philosophy sound like a Landmarky new religion. Lots of fear-based and humiliation-based management allegations.

-Taped phone calls
-Taped daily interactions
-Executive meetings ending in tears

Dalio makes money in spite of himself.
posted by Freecola at 10:14 AM on December 11, 2019 [3 favorites]