What is new in the corporate world? What kinds of jobs will our students hold later? Here is a snapshot of some developments published in:
The Man and the Machine
Bridgewater, the world’s largest hedge fund, is making waves again. This time, its controversial founder Ray Dalio is reportedly developing technology to automate the firm’s management decisions. Bridgewater is already famous (or infamous?) for its blazingly-transparent management structure, laid out in its publically-available 123-page manifesto, “Principles.” Since his return to running Bridgewater this year, Dalio has been working on the technology to turn those Principles into software, fittingly called PriOS:
- Employees at Bridgewater are encouraged to challenge and criticize each other openly. While this may be why one of five new hires leave within the first year, it’s also attributed to the firm’s success: Bridgewater manages a whopping $160 billion.
- Dalio literally believes that humans work like machines, with emotional interference as the most dangerous flaw. Principles, and now PriOS, are aiming to overcome that human defect. Within the next five years, the software could be making 75% of all management decisions—yes, up to and including firing and hiring decisions.
- What’s left for the humans of Bridgewater? Eventually, the role of employees won’t be to make choices, but to continue to perfect the decision-making system’s software.