Ray Dalio on Economic Trends, Investing, and Making Decisions Amid Uncertainty

Over the years, investor Ray Dalio built his hedge fund, Bridgewater Associates, into one of the largest in the world. He's done that in part by understanding the history of economic cycles and macroeconomic trends. He's also made shrewd investing and management decisions and stands by his values. He shares where he sees the U.S. today in terms of economic power and the progress that leaders of all kinds need to make to better the situation, as well as his personal views on how to lead well. Dalio is the author of How Countries Go Broke: The Big Cycle.

Professional search firms play a big role in discovering and choosing leaders for senior roles. That’s why anyone with C-suite ambitions needs to understand the recruiting process and what these evaluators are looking for. Mark Thompson, chairman of the Chief Executive Alliance, and Byron Loflin, global head of board advisory at Nasdaq, explain the ins and outs of recruitment, how to develop your narrative and navigate formal assessments and reference checks, and the best ways to build ongoing relationships. Thompson and Loflin are authors of the HBR article "How to Stand Out to C Suite Recruiters" and the book CEO Ready: What You Need to Know to Earn the Job and Keep the Job.

How does an organization with 100 years of history stay relevant, adaptable, and forward-looking? Bob Sternfels, who runs McKinsey & Company as the Global Managing Partner, has led the company through a wave of recent challenges while trying to plan the road ahead for the consulting industry leader. He explains the balance he's aiming to strike between AI agents and human employees, how he's handled moments of scrutiny, and the ways in which he's been working to build trust both internally and externally.

How different is the newest generation in the workforce, really? While stereotypes abound — some of them unfair — it’s important to understand what the young adults of Gen Z have in common and how they differ from Millennials, Gen X and Boomers. Tim Elmore is a leadership coach and author who says that this generation in particular craves connection with their colleagues, meaningful work, and assurances that they’re seen as people not commodities. He explains how organizational leaders can adapt to the needs of these workers while still maintaining high standards, providing feedback, and building grit and resilience. Elmore wrote the book "The Future Begins with Z: Nine Strategies to Lead Generation Z as They Disrupt the Workplace."

What does it take to rebuild a legendary brand, lead through failure, and win on the world’s most competitive stage? Zac Brown, CEO of McLaren Racing, which competes in Formula 1 racing, explains how he helped guide the company through a rough chapter of its history, powering through financial strain and declining performance to change the company culture and get it back on the winning track. As part of the HBR Executive Live series, he spoke with host Adi Ignatius about staying sharp in a cutthroat industry, leveraging data and AI to get ahead, and how to lead an organization that is equal parts competition and collaboration.

Senior executives are often told to focus on big-picture strategy while delegating the specifics of execution. But, according to Scott Cook, cofounder and former CEO of Intuit, smart leaders also spend time on the details of how the organization gets work done at every level, including the front lines. Working with Harvard Business School professor Nitin Nohria, he studied companies from Toyota to Amazon to better understand why hands-on leadership, from the CEO down, works and how to do it without micromanaging. They are coauthors of the HBR article "The Surprising Success of Hands-On Leaders."

What does it look like for a business in 2025 to build a strategy around sustainability? In this Future of Business series, IdeaCast hosts Alison Beard and Adi Ignatius sat down with four leading CEOs to understand where global business is going. In this episode, host Adi Ignatius speaks with Poul Weihrauch, CEO of Mars, about how he manages the family-owned global pet care, snacking and food company. They discuss balancing short-term performance with long-term goals, resilience, and the business case for sustainability-driven innovation.

Most companies say they want to be more innovative, agile, and customer-centric. But in reality, many still operate like 20th-century factories: hierarchical, risk-averse, and slow. Jana Werner, executive in residence of enterprise strategy at Amazon Web Services, argues that organizations should instead think of an octopus: an organism that manages complexity, can work in many different modes with some autonomy, but all moving in concert toward a common goal. Werner says the future belongs to companies that distribute decision-making, empower teams at the edge, and treat innovation as everyone’s job, and explains steps you can take as a leader to make this cultural shift. She's the coauthor along with Phil Le-Brun of the HBR article "Become an Octopus Organization" and the book, The Octopus Organization: A Guide to Thriving in a World of Continuous Transformation.

What are CEOs across industries doing to build resilience and strong cultures in an age of uncertainty? In this Future of Business series, IdeaCast hosts Alison Beard and Adi Ignatius sat down with four leading CEOs to understand where global business is going. In this episode, host Alison Beard speaks with Noubar Afeyan, the CEO of Flagship Pioneering and Chairman of Moderna. Afeyan shares the organizational models and practices that work best to produce innovation, the difference between managing risk and managing uncertainty, and what separates true breakthrough innovation from everyday, incremental improvements.

It's harder than ever for companies to get their marketing messages in front of the right customers. One increasingly popular -- but also risky -- tactic is fastvertising, the rapid development of ads that tap into a cultural moment, aiming to increase brand relevance and awareness. Harvard Business School associate professor Ayelet Israeli shares pitch-perfect examples, including those from her coauthor, the actor Ryan Reynolds, and his marketing firm Maximum Effort. She explains the importance of timing, describes the talent, culture, and processes you need to succeed, and outlines how to extend the impact of these ads. Ayelet, along with Leonard Schlesinger, Matt Higgins, and Ryan Reynolds, wrote the HBR article "Marketing at the Speed of Culture."