Ray Dalio (photo via Bridgewater Associates) and Alex Lazarow (photo by Lindsay Upson)

In a recent conversation with Bridgewater Associates Founder Ray Dalio (MBA 1973), Alex Lazarow (MBA 2010) gleaned three insights (and one bonus) from the global hedge fund leader on the forces that will shape global business in the future. Writing for his Substack newsletter 99% Tech, Lazarow, a managing partner at Fluent Ventures and author of Out-Innovate, notes, “Dalio believes that existing reserve currencies, including the US dollar, ‘will have significantly diminished roles as storeholds of wealth ten years from now.’ The balance is shifting against the dollar due to factors like declining demand for dollar debt, increasing transactions denominated in other currencies, and rising geopolitical risks.”

Dalio also offers his interpretation of the time-honored importance of diversification to decrease risk, in addition to highlighting the five forces that will shape our future (unsustainable government debt is No. 1). And regarding that bonus item—it has to do with culture, something Dalio is well known for: “Bridgewater’s culture is unique and authentic to Ray’s leadership style,” writes Lazarow. “Founders should find an approach that works for them, aligns incentives, allows people’s voices to be heard and helps everyone be the best they can be every day.”

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LISTEN: Lazarow discuss how entrepreneurs and ecosystems across the globe are challenging the Silicon Valley model on the Skydeck podcast episode “The Camel and the Unicorn”.

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