I think the industry can probably self-correct without regulation, but I don't believe an individual outlet can regulate itself.
Ray DalioIf it didn't happen in your life before, then you're not paying attention you don't think it's possible. But almost all important events never happen in your life before.
Ray DalioPrinciples are what allow you to live a life consistent with those values. Principles connect your values to your actions.
Ray DalioRemember that experience creates internalization. Doing things repeatedly leads to internalization, which produces a quality of understanding that is generally vastly superior to intellectualized learning.
Ray DalioWhen I say I believe in radical truth and radical transparency, all I mean is we take things that ordinarily people would hide, and we put them on the table, particularly mistakes, problems, and weaknesses. We put those on the table, and we look at them together. We don't hide them.
Ray DalioI learned that everyone makes mistakes and has weaknesses and that one of the most important things that differentiates people is their approach to handling them. I learned that there is an incredible beauty to mistakes, because embedded in each mistake is a puzzle, and a gem that I could get if I solved it, i.e. a principle that I could use to reduce my mistakes in the future.
Ray Dalio