[16:00] Pain + reflection = progress [16:30] Creating a meritocracy
to draw the best out
of everybody [18:30] How
to raise your probability
of being right [18:50] Why we are conditioned
to need
to be right [19:30] The neuroscience factor [19:50] The habitual and environmental factor [20:20] How
to get to the other side [21:20] Great collective decision - making [21:50] The 5 things you need
to be successful [21:55] Create audacious goals [22:15] Why you need
problems [22:25] Diagnose the
problems to determine the
root causes [22:50] Determine the design for what you will do about the
root causes [23:00] Decide
to work with people who are strong where you are weak [23:15] Push through
to results [23:20] The loop
of success [24:15] Ray's new instinctual approach
to failure [24:40] Tony's ritual after every event [25:30] The review that changed Ray's outlook on leadership [27:30] Creating new policies based on fairness and truth [28:00] What people are missing about Ray's culture [29:30] Creating meaningful work and meaningful relationships [30:15] The importance
of radical honesty [30:50] Thoughtful disagreement [32:10] Why it was the relationships that changed Ray's life [33:10] Ray's biggest weakness and how he overcame it [34:30] The jungle metaphor [36:00] The dot collector — deciding what
to listen
to [40:15] The wanting
of meritocratic decision - making [41:40] How
to see bubbles and busts [42:40] Productivity [43:00] Where we are in the cycle [43:40] What the Fed will do [44:05] We are late in the long - term debt cycle [44:30] Long - term debt is going
to be squeezing us [45:00] We have 2 economies [45:30] This year is very similar
to 1937 [46:10] The top tenth
of the top 1 %
of wealth = bottom 90 % combined [46:25] How this creates populism [47:00] The economy for the bottom 60 % isn't growing [48:20] If you look at averages, the
country is in a bind [49:10] What are the overarching principles that bind us together?