Ray Dalio, a well-renowned hedge fund chair, begins his talk on transparency by stating that algorithmic decision making is becoming more and more prevalent, meaning that it's likely to impact all big businesses in the near future. He says that this is because it's now incredibly easy to enter data that can help business owners to have more meaningful connections with their employees, resulting in better practices and more positive working environments.
As Dalio has experienced failure throughout his career, he's realized that arrogance can be one of the most dangerous things for business owners, and that silencing ideas that differ from his own prevented him from being successful in the past. With this in mind, Dalio created a system of absolute transparency that allows those with constructive ideas to give their opinions, which are then scaled with an algorithm that shows overall feelings. In doing this, Dalio enables everyone to communicate what they're thinking, while helping to find where a certain employee would fit best within his company. Although Dalio agrees radical transparency isn't for everyone, he believes it has the power to bring more meaningful relationships and work, and prompts his audience to consider its effectiveness so that they can avoid mistakes down the road.
Ray Dalio's Talk on Transparency Shows How Companies Can Improve Practices