YouSaid · the spoken record

Greg Jensen

lines on the record: 106
first: 2025-11-26
most recent: 2025-11-26
sittings or episodes: 1
sources: podcast

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“TIDs, et cetera, like having meaningful relationships that support you in the difficulty of the things you're trying to do and having meaningful work, which to me that means interesting work with people that push you to be the best. Those are the things that worked. For me, and I was lucky to get them in spades. And I don't know that I had any like. Other than knowing it when I felt it, I don't know that I had any great advice on how to get there. I found these things that I loved and was able to pursue them with great passion. All right, thank you so much.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I'm really bad at this because for me, all I can say is what it was like for me to be happy and to get contentment from life. I was lucky in that I am. Graduate college, come to a place that I fall in love with, that I want to build. And the things for me were a passion for what you're doing, which I had, combined with a community of people that draw out the best in you back to like Ray, like Ray, getting feedback over and over again shapes you if you're willing to take it. And I was surrounded by people that were willing to give me feedback all the time that made me better. And this problem of trying to understand the world, those things came together for me in a way that I don't know that everybody wants those same things or whatever. So I see it more like I could share my journey and what makes me happy. That, and one of Ray's great terms that I totally believe meaningful relationships and meaningful work, my wife, my family, my three.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Kind of happened post COVID in a couple of waves has been extremely painful and extremely powerful at the same time. Those are probably the hardest decisions to take people who are great in the old mode. and move them away as we move to a new mode of how we generate the ideas.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Hardest decision. I'd say. Probably need to give this a little bit of thought. But we've done a lot of reorganizing the investment engine that's been very hard. I mentioned the mistake pre-COVID, but how to get comfortable distributing more of the decision making, empowering people when you're managing a lot of security and intellectual property, how do you actually build that out? So we take big steps to that required Taking a lot of people who had been at Bridgewater for life and removing them from a process because they were slowing down the progress. And that not purposely, like they were great, but they were built in a mode where we centralized the decision making largely at the CIO level and we had a lot of people working for the CIOs versus freeing up great investors, making them independent and doing that. That transition, which we”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“I'd say I learned more from watching him than literal advice, but I would say. Pain plus reflection equals progress is great advice, meaning when, just as I was describing before. Reflect on the pain, don't run from it. And that's how you get progress. I think that's incredible advice. I think his view on compounding understanding on the fact that we should be disciplined and the incredible energy it takes to be excellent. He was a role model in those things and I was very lucky to know him as well. And for as long as I did.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“That is an incredible success story. So, the press loves to pick up on the pain. But if you look at that, that's a huge success story”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“But here you had people like Bob Prince, who's been at Bridgewater 40 years, me, Bridgewater 30 years, Ray had been a Bridgewater for 50 years, all totally committed to making Bridgewater long-term successful, different views on how to do it. But if you have people who are committed to the same goal and they're good people, you will work your way through it. And I don't know, I mean, I'm not sure of a place like Bridgewater that has successfully transitioned the fact that we finished, we started this process 15 years ago, Race stepped out of the CIO thing right after COVID and let us change how we did the investing in a big way. And then step that of management and then stepped off the board and totally out of Bridgewater in June.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“As most great people are. He had a huge impact in shadow on everybody else. And so Ray decided, you know, this was like 15 years ago to replace me, it will take a decade, right? And that sounded kind of crazy and arrogant at the time, but it did. And to his great credit, I believe. He did let go. Meaning it was hard. It was some time, right? Took a lot of time and a lot of pain.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, and so for great reason, right? He came up with so many of the cutting edge ideas on portfolio management. We had a hedge fund for institutions to create uncorrelated alpha way before that existed virtually anywhere. And currency overlay. And if the inflation index bonds and all of these things that Ray was a huge part of that and probably most importantly, Ray was a huge believer in culture and in building something that would outlast yourself. So I have such valuable things. And he was.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it's a really hard dynamic in many ways and a great dynamic, of course. I benefit from the impact Ray had for 50 years because we compounded it all. And Ray had some great cornerstone ideas. Yeah.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“That's the mix, right? And I think two failure modes are people who are too open-minded and won't say what they believe and people who are too assertive and won't actually take in what's coming at them.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think also evolved, right? And so I'd say. A lot written in the press that has nothing to do with what happens to Bridgewater, as I'm sure you can imagine a press written about you. But the basic picture is, look, it's a very unique place. It's not for everyone. This thing that we're talking about, transparency, some people, just the pain of that is too much. I'd say this balance between the thing that the two failure modes for people are either being unwilling to say what they believe or being unwilling to listen to other people. So we try to balance open-minded and assertiveness. If you're, say, the two things you want in yourself as much as possible is to be really open-minded and be really assertive. And those two things are somewhat in conflict, but it's the way to get to improvement. Because if you're open-minded to people listen, but you're willing to say what you believe,”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Exactly. And so, and that's the thing back, like, and that's the worst of me, right? And if you know it and you expose it and you help other people show it to you when you're doing it, that's great, right? The same thing as the 26-year-old. Like, you got to flip that on the other side. The 26-year-old's unlikely to say it to you, even though, man, how much better are you to have these observations about yourself? There's no actual downside. There's only downside because you're a weak, fallible human. Like what's the actual downside? If I listen and think hard about, wait, what am I missing? I'm still rich. I'm still like, and if I don't, I miss out on all of these jewels. So I am definitely flawed in that. I feel it. I feel that anger. I feel that like, who the fuck are you? Sorry about that. But I feel that. And I have so much experience with this and say, when I feel that.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“This morning, meaning like I was sort of annoyed with because I made a decision to say, okay, somebody could talk to the press about this thing and I didn't feel follow our process. I thought it was a small thing, like meaning like, and my, and just yesterday, one of the members of the team was talking about how some of the things I've been wrong about that I, merculism being one, like I thought I would have bigger impact than it has, as an example, and that I kind of can explain it away a little bit like I did today. Well, there was AI on this side. And so I get this feedback. And I think you have a thing.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's a huge problem, right? People, that's back to you, you have to fight human nature, right? Look, I'm powerful, they worry about insulting me or whatever and worry about me being mad at them. So how do you fight that, right? A, you measure it and you treasure it. So A, we look at the best managers in the company are the ones that get the most negative feedback. Try to encourage this. People think terrible things about you. They must. They're independent thinkers. They must think you're screwing things up. They're smart people. The people that are able to draw that out, which we measure, we have ways of measuring. Are you drawing out the criticism about you? The worst managers in the company are the ones that their people say all good things about. So I could whip out our tool here, but you could see the incredible amount of negative feedback I get. And I'm still sure that people don't tell the total truth or anything like that. But that's...”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, for a while, I'd say the demand of transparency and the demand of feedback was all kind of top down, pushing down. You must be transparent. You must get this feedback. You must, and actually transparency.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“You need transparency. Now, we say radical transparency, and I want to differentiate that from complete transparency. That doesn't mean everything's complete transparency. It's just radically transparent, meaning compared to most other organizations. And if you're trying to get to the best ideas, you have to fight against certain human things. Like humans, most humans like order. They like the person at the top to make the decision and whatever. You need to fight against the political things that are natural and allow the best ideas to win. And one part of that that's so critical is take all the decisions you make at the top and make them as transparent as you possibly can so people can push back on all of these things. And so for us, the radical transparency of saying, hey, we've got to share why we're doing what we're doing and take feedback on those things. I think that if you go back to things that made Birgit Water successful, that is really important. We've screwed that up in many ways.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“I think radical transparency is critical. If you come back to what's necessary to compound understanding in a community, very different than it's poker's an individual game, that's the kind of the problem. But if you want to compound understanding in a community”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“In poker, because literally there's like a good theory on how to handle it. Now you need to modify it for who you're playing against, but there's good theory on how to bluff absolutely. You cannot play poker if you don't know how and when to bluff.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think people, the biggest thing is. Let me see A, and this maybe happened 15 years ago or so, but really starting to understand how to think about the range rather than think about your cards. Think about the range of cards you could have and that your opponent can have and how to handle that. That was kind of building block number one. That was a big deal of how to play ranges rather than playing the individual cards you have, how to get to the math of bluffing, right? A lot of people, like they were just building on their intuition of when and how often to bluff there is a real math to how to bluff that That people just didn't understand. It was a hard thing to take out. Everybody knew you had to bluff a certain amount.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“In poker, there's a lot of that in poker. But I would say my interest in what drew me back to poker was I thought it was at a very good intersection, which is also happening, of where you had this breakthrough around eight years ago where machines got better than poker, than people, and most people didn't know it. And that was a huge opportunity because if you could conceptually see what computers had discovered, people had played poker for hundreds of years, and they were really bad at it. If you play poker 20 years ago, you play poker today, totally different despite the fact hundreds of years of trying to get good at poker, people had no idea what they were doing. And that is like a pretty amazing thing. I mean, I think I always spoke.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think predicting the future in the end, markets are really tough. How do you win in markets, right? You have to know the future. Better than other people. Otherwise, you should just be a benchmark, which is totally reasonable. And that's very, very hard to do. So first off, in that way, it's a probabilistic exercise where you have to be used to being wrong. You have to get more right than you're wrong about. You have to make decisions in high quality ways with a lot of uncertainty. And so in those ways, it's sort of like a game. And that's what it takes to be good over a long period of time. And there's some of that.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Probably one thing well at a time. I can do this badly and think about 12 other things. But poker, look, there's... I like poker before I like markets, and what I think the markets and the thing that we do is much better, much bigger, much more impactful. But it was a good stepping stone for me that dealing with incomplete information, that dealing with probability, the dealing with making good moves and being wrong, and learning how to handle that, and then also being able to find your bad moves, all of those things are really helpful.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I'd say a couple things. So the things I like about poker, first off, it's very meditational to me because I'm playing poker. I can zero in on poker and everything else can go away. That's a very rare. Usually there's, I'm talking to you, I've got 12 different ideas going on in my head and I'm distracted. And poker allows like it, I need to. And when I do it, I could just totally focus on it.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there was a time, I mean, this is a bold statement, but there was definitely a time when I think I was in the top couple hundred people at poker”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Not good enough. I did win a bracelet in the World Series of Poker. I was, I had an edge for a while, particularly when the machines had learned more about poker than humans had and many humans hadn't caught up, but I knew a lot about what machines had learned about poker, and it was good.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“And we totally screwed it up because we were trying to systemize, we got caught in our straitjacket that if you couldn't systemize it, okay, we had done work on the 1917 Spanish flu, but the economic didn't... We got stuck with our process and we didn't take in what we knew and apply that quick enough. Since then, a bunch of things that we did organizationally to say, okay, that can't happen again. And that led to things where our systematic ideas get in much quicker. Our researchers have a lot more independence to move faster. And that led to where quote-unquote overruling system, although all I would I would really more describe it as accelerating new research such that you can use it in an intermediate phase before it's totally done when necessary is a big part of what has made Pure Alpha better since COVID than it was before.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Barely, but yes, and that's why we do it only because we don't do it very often. And we're very disciplined in when to do it. And there's different types of things, right? The one thing that we've done a lot better is what do you do when you have research in the lab, like actually building it out so that it's sustainable or whatever takes some time, you've researched in the lab. It's not quite ready yet, but you think it would change your positions, right? We've created a process to allow that to happen much more quickly. So when new things are happening, if you're like the worst moment at Bridge Moment in my career I failed the most was COVID. We had the best research on COVID. We were incredibly on top of it from the very beginning. We have a huge presence in China. We had a very good understanding of what was going on”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so yes in both cases. Look, I am the reason to have all this compound understanding so that you can reflect your thinking in a way much better than you can. But it can't be a straightjacket.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“People, do you think, look, performance has luck in it, but mainly it's the work of so many people. I sit in this incredibly lucky seat to have 50 years of compound understanding and a couple hundred people who are trying to make that better. That's what's doing it. I am trying to make that meritocracy work as well as possible, evolve that process as well as possible. But those are the things that make this performance this year happy.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“I'd say one pure alpha is the center of it. It's like if you were to just like, how do you take everything that we've ever learned and apply that? That's pure alpha, right? We also have bespoke solutions that take advantage of Some of that alpha, but also our strength in how to build great portfolios. We've thought about that question for a long time. If you say, why do we survive? Bridgewater is a hedge fund in 1991. If you looked at our competitors in 1991, none of them exist anywhere, right? The reason we survived was partially this process of saying is good and you make good decisions, but much more important is risk control, much more important is how you take the fact that we're all flawed and survive.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“A couple hundred people. We have people then building the technology that support that, another couple hundred people that build the infrastructure that support that. Then we, back to our mission to build portfolios and understand the world, we have a big team of people supporting our partners, our clients all over the world who we have great relationships with where we share our understanding. They share what they're seeing in the world. So that's another big chunk. And then you're running a large company. So you have internal processes that are super important to us of how do you hire the best people, how do you motivate them well, how do you support that whole ecosystem.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“So At the center of it is our alpha engine, where there's a couple hundred people thinking about looking at everything that we've ever figured out in the world of 50 years of compounded understanding. And because that's all systemized, they could just focus on what we're missing. What is happening in the world today that you're worried that process doesn't have reflected, right? And there's a lot. Modern merculism, all that. Like there's a lot of it.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Incredibly efficiency gaining. You see this in China all the time. If you try to get robots to do what humans do, you're in a mess. That, I think, is the same thing in one of the reasons that AI hasn't swept through corporate America is people keep trying to replace humans with it rather than design around the technology and reset their processes.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I really do. I think it's changing now. I think we are bringing it back together again now. But at that time, and I'd still say for everybody, this is like, I love this lesson from Amazon, but when they started trying to build robots for their warehouses. Sucked in the beginning because they tried to have robots do what people were doing. As soon as they were like, no, no, no, let's let robots do what they do. I don't need a robot that's human shape. I need the robots just like move the stuff in the warehouse. Once they design it around the robots.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“But it didn't have access to all 50 years of intellectual property. Now AI being able to, but it was setting it up so that we would design the AI that eventually could suck in that intellectual property and be that much better. And the third reason was I don't want a copy of us. We're so flawed. We're so bad at so many things. I want something better than us. And if you start particularly before, but if you start AI and you give it too much stuff that it can cling on to it gets stuck there. You really want it to be able to generate its own independent ideas. So I wanted AIA to be uncorrelated to Pure Alpha. I wanted it to generate.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Bridgewater's not like that, right? Bridgewater, like what people want from technology is they want it to help them work. And so to me, I wanted to do this where you put AI at the center and you hire the different kind of people and you build a team that's going to say, okay, how do I make the AI work and how do I fill in the things AI is bad. The way humans tend to look at it is like, how do I get this technology to help me? So two different factors. Now more and more we're using AI in the other factory because it does actually allow us to systemize ideas we couldn't do before. It allows us to accelerate that process so it's coming more in there. The second reason is the security challenge. Like look, what you couldn't do then, we're much closer now is put this over all of your proprietary stuff so that I had just had access to the data, had a lot of benefits of being in myths of Bridgewater.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so the reason was a couple of reasons, but most importantly is the nature of the technology at this point, although this is changing, but let's say in 2022, is you need to people who wanted to do it, that were 100% in this, and it had to be the whole thing. So we designed a factory, idea factory in AIA, where AI is at the center. And the people are trying to help make the AI work.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Platform, you change that and you compound it across the whole thing in a better way. We were always trying to do that. But manifesting your culture both in technology and in process is super important and that's what we did there. And which also sets us up for what it's worth because of that sets you up for this world that we're now in, where, look, it's very hard for humans to go dissect all of that. AI is built to dissect that stuff.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, some stuff we've started to try to cut back. We used to keep all of the videos and everything. And so we'd cut back some of it. But massive, massive amount. But what it is, but it's curated, right? So you can go in there and say, okay, I'm interested in modern mercantilism. I'm interested in oil. Let me get every manifestation of that organized for me, right? And so that it's both computer and human readable. So I can go in and see the algorithm that's making our decisions on this process, or I could see the charts that that generates to help me think about those problems. And that thinking was like, how do we take it? Because if you were at Bridgewater before that, right, one person would do something in Excel. Another person would do it in C++. Another person would do it over here. It was impossible, right? Like to go, you have to go like nine different languages and all of these different ways to manifest it by agreeing that no, no, we will build the best way to do that across the whole company. And everybody will work on that.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“People have It's all written. I mean, we have tools to make it better, but meaning written and translated into algorithms. Meaning, like, there is a plain English version of everything we did, and then there are algorithms that represent that so that when you're done with it, you have this idea, I want to go buy this thing, I want to go do that thing, that the reasoning is written and the manifestation of that reasoning in code exists, and otherwise you get no credit for it.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it's super hard. So, the thing that I did in 2012, or maybe a little before that, and I said it doesn't exist unless it's compounded. You get no, you don't get any bonus, nothing that you did. I don't care how great your results were. I don't care what happened. If that knowledge is not in what we call our secure garden, but if it hasn't been translated into compounded knowledge, it does not count zero. You get nothing.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Discipline Like, you don't need it that day. Why am I writing down what I'm doing? And it just takes so much goddamn discipline and people are lazy. And so...”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think if you look at, I mean, this is how society progress, right? Like writing was such a, if you take major... Major technological advances, right? The printing press, and once you started being able to compound human knowledge through the printing press, et cetera, that is like at a society level we're doing that. We do that inefficiently. We do that in certain ways. But institutions rarely do. People come in, like, how much?”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Because you can't You can't carry in your brain all of the things that you've thought about and forgotten, not even just that you've done. Now we have hundreds of people that have studied these issues in China that if you start and you start from somebody's understanding that's been what we say is to compound it, what I mean by that is it's got to be human readable and computer readable, meaning like a human's got to be able to pick this thing up and make sense of it. And a computer's got to be able to run it. That is extremely powerful to have everything that we've ever believed.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“No, because of security, but you could. Like meaning if we didn't have security constraints. We could make that all value. You could literally see everything. And one of the amazing things that we built, which I think is super important, is not only everything, how it changed. Every time we learned something new, what we replaced with what we built, that's all available, right? I can go in there and see everything and for what it's worth, AI could read over everything we've ever believed about markets, all the rules we had, how we change them, why we changed them.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“The idea that you have to do that by compounding understanding. You have to discipline to write down what you believe and why you believe it. Share that with others so that they could assess what's wrong about that, what's right about that, build that out and keep compounding understanding. So to me, basically, the focus on those things, getting a culture of people who people who care deeply about how those two things work, and then taking everything we ever learned and having the discipline to write it down, translate it into algorithms, and keep moving forward that way. Those are the magical pieces.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“I think the most important. Thing that Bridge Order did well was to say. A, we're focused two things. How do you deeply understand how the global financial system works and how do you build great portfolios? Those are the two things that we do. And then to drive that”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“I think so. I mean, bubbles are always, but I would say the crypto area is just focused for that edge of corruption. If you look at the companies that just buy the Bitcoin and put in their treasury or whatever, the things going on there, I don't think they're supported by the use cases. And I think the idea because there is some good to the idea of taking a database and then distributing it so that no one person has that power, no one entity has that power. You get the need for that in this world, particularly in the world. But that's what it does. That's a more inefficient database, maybe more, it may be necessary because you can't trust anyone, but it's basically built on a technology that deals with a trust issue that makes it more inefficient living in a world when no trust is a very inefficient world and crypto represents that.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source
“Cryptocurrency was like a, it was a magnet for the most corrupt people in finance because there's low, I mean, just for the reasons, low regulation.”
2025-11-26 · In Good Company with Nicolai Tangen · Greg Jensen: Building Bridgewater, mastering AI and the power of radical transparency · IDENTIFIED FROM THE TRANSCRIPT · source