Unbelievable! What a Billionaire did after his Own Employee Called Him Out on a Mistake

by Uche Onegeria 18 Feb , 2016  

 Ray Dalio is the billionaire CEO of the enigmatic investor company, Bridgewater.
Business Insider has this to say about his company.“In 2010, a company’s returns exceeded the combined profits of Google, eBay, Yahoo, and Amazon. It wasn’t a tech giant; it was Bridgewater, a hedge fund that has been recognized for making more money for clients than any hedge fund in the history of the industry.”

Business Insider also encapsulates 3 amazing points about Bridgewater below:

  1. Its billionaire founder, Ray Dalio has been called the Steve Jobs of investing (Wait a minute. I thought that was Warren Buffet?).
  2. It predicted the financial crisis and warned clients in 2007 about the impending crash.
  3. The company encourages group thinking from every employee. Ray believes that “no one has the right to hold a critical opinion without speaking up about it.” (Hmm. Tell that with other CEOs – especially the Nigerian ones. Never try this with the Ibo ones).
For proof of #3, find (below) an email that an employee sent to Ray Dalio after a meeting with an important potential client: 

“Ray — you deserve a “D‑” for your performance today . . . you rambled for 50 minutes . . . It was obvious to all of us that you did not prepare at all because there is no way you could have and been that disorganized at the outset if you had prepared. We told you this prospect has been identified as a “must-win”. . . today was really bad . . . we can’t let this happen again.”

First and foremost, this would not have happened, had this CEO not encouraged a culture where employees trust that they are a part of something phenomenal and are thus passionate about the business. If this happened otherwise, then I would say this employee is just asking to be fired, or is careless or is just one of those few people that live like they were given the truth serum at birth.

You will never believe how this billionaire CEO, Ray approached this situation.
He responded by asking the rest of the meeting participants to give him honest feedback and grade him on a scale from A to F. Then, instead of hiding behind his alleged blunder, he copied the email trail to the entire company for everyone to see.

Wow!!!
Image from clip-art hut

Read more at Business Insider

 

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