Ray Dalio: I Predicted The 2008 Crash, I Know What Comes Next

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Where Should Young Entrepreneurs Build Their Business Today?

At 1:09:29 · chapter starts 1:08:21

Bartlett asks whether he would build a company in the UK today. Dalio's answer reframes the question: don't think nationally, think globally. Seek places with education, civility, vibrancy, and capital — what he calls 'Renaissance states' — and have multiple bases, not just one. The Hong Kong proverb 'a smart rabbit has three holes' captures his philosophy perfectly ^{[1] — Ray Dalio "There's a Hong Kong expression. A smart rabbit has three holes. And what it means is like if the one place that you go to, it may not be th…" 1:09:29 Play} . He is honest that the UK, as a whole, is a more difficult environment right now, though London pockets still retain quality. He then turns to the 80-year cycle diagnosis: the US and UK are objectively late in the decline phase, with overindebtedness and loss of power measurable through objective indicators he has tracked across 500 years of historical data.