Principles

Marty Cagan argues that product managers should learn the underlying principles behind their practices, since techniques change constantly while principles endure and let people judge new methods. He recommends Ray Dalio's book Principles, which he considers the most important business book of 2017, though he stresses it was not written for product management specifically. Cagan explains that Bridgewater's extreme culture of radical transparency and meritocracy is hard to transplant into existing companies, but that many of Dalio's life and work principles apply broadly to tech. He praises Dalio for taking the effort to articulate his principles explicitly, which is a rare gift.

01Key takeaways

• Focus on the principles behind practices so you can judge when a technique fits and when it does not.
• Principles endure while techniques change, so principles are the more durable thing to invest in learning.
• Radical transparency and meritocracy are hard to adopt in existing companies without changing who is hired and promoted.
• Leaders who candidly share feedback and criticism often accelerate the growth of the people they coach.
• Writing down your own principles explicitly is valuable, both for you and for others trying to learn from your experience.

02Key sections

Why principles over techniques

Cagan explains that techniques evolve quickly while the principles behind them remain stable. Understanding principles helps people know when a technique fits and when it does not.

Recommending Dalio's book

He describes Principles as a strong business book that he has urged his teams to read. He notes he had no prior connection to Dalio or Bridgewater.

Bridgewater's culture is hard to copy

The radical transparency and meritocracy culture at Bridgewater depends on specific cultural fit and hiring priorities. Cagan believes adopting it at an existing company would require major turnover.

Broadly applicable life and work principles

Though the culture is extreme, most of Dalio's principles about work and life align with lessons Cagan has learned and taught. Dalio presents them as principles to consider, not rules to adopt wholesale.

Value of writing principles down

Cagan closes by praising Dalio for articulating his principles explicitly, a difficult task, and hopes other leaders will follow.

03From the post

“A partnership dedicated to teaching best practices to product teams and product leaders”

04Frameworks mentioned

Summary and takeaways written by PM Atlas; quotes are short excerpts. © the original author.