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What the man who built the world's largest hedge fund taught me about the moment we're experiencing—and why the future belongs to the entrepreneurial, not just to entrepreneurs. Sales is the perfect training ground for preparing and thriving in this new world.

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Diving deep this week

A heads up before we start: this one is a long read.

I usually keep these essays tight enough to finish with your first coffee. Not this week, and that's on purpose. Sometimes a topic needs to be explored in full depth rather than just skimming the surface, and what I want to walk through today—where the changing world order is actually headed, what that means for your role, and the specific way you should be training right now—is one of those topics.

So pour that second cup of coffee or open this on the web, put your headphones on, and go for a long walk while you listen to it. Or, if now’s not the right time to get into the flow to digest it, save it and come back to it when you’re ready. It will be worth it!

Here's what prompted this essay.

Earlier this week, after returning to Nashville from our three-week RV adventure, I watched Steven Bartlett sit down with Ray Dalio on Diary of a CEO (worth a watch).

If you don't know Ray Dalio, he founded Bridgewater Associates in a two-bedroom Manhattan apartment in 1975 and grew it into the largest hedge fund in the world—something like $53 billion in cumulative gains for his investors, including positive returns in 2008 while the S&P was down nearly 40%.

Bartlett opened by asking Dalio: “Are we in an AI bubble?” He then repeated a line from investor Jeremy Grantham, who told Bartlett in a previous episode that this is "the biggest investment bubble in American history."

Dalio's answer was two simple words: "He's right."

But it's what he said next that has me wanting to deconstruct this further and illustrate how this all ties into our work together. "I don't want to jump to conclusions as much as I want to explain the reasoning that leads up to conclusions. I'm at a stage in my life that I want to help people understand cause-and-effect relationships."

Then he drew three lines.

The Three Lines

Picture a chart.

The first line (in yellow above) is a big cycle that lasts about a lifetime—80 years, give or take. It's the confluence of three orders that affect the world: a monetary order, a domestic political order, and a geopolitical order. All three were last reset in 1945 after World War II. The U.S. became the new World Order leader at that time and has been since.

But according to Dalio, right now, all three are breaking down at the same time. The U.S. government is in extreme debt ($40 trillion and counting). Wealth gaps are widening at an increasing pace and have people at each other's throats. China is now a larger trading partner with most countries than the United States is. The World Order is changing.

When Bartlett asked him where we are in that big cycle, he was quick to say: "the decline" (at stage 14 to be exact, while China is on the rise at stage 6, according to his analysis).

Where Dalio thinks the U.S. and China are on the big cycle. Source: DOAC

A more detailed view of the big cycle

The second line (in orange in the first chart above) represents the short cycles—recessions and recoveries, bubbles and corrections, which happen about every six years, give or take three. This is the line the news covers every day.

The third line (in white) sits underneath both, and it's the evolution of technology. Dalio's describes it as: "This keeps going up in a straight line, because we don't unlearn what we’ve learned (even when cycles go up and down).” In other words, like in past cycles of the Industrial Age, to the Internet Age, to the AI Age—everything keeps developing no matter what happens in the financial or political world.

Whether it was the Great Depression, or the dot-com bubble, or the housing crisis, or COVID—every time, technology kept getting more advanced.

And it left me pondering one question:

Which line is your career attached to?

If you're brutally honest with yourself, most sales careers are attached to the first two. Your job prospects, comp plan, and even sales results are heavily influenced by business lending rates, macroeconomic conditions, and overall market sentiment. Your title and role sit on an org chart someone else creates. Your financial security depends on a company that can restructure your role out of existence on a Friday afternoon. You're tied to the lines that are in perpetual cycles.

The whole game I write about here, and the reason The Purposeful Peformer exists, is learning how to detach your life from the cycling lines and attach it to the one that only keeps going up.

The Bubble and the Revolution Are Both True

Now, let's take a quick detour into economics because this part is important and easily overlooked in the chaos and hustle of modern life.

Most of the debate happening in the media today usually sits on one of two sides: "AI is in a bubble" or "AI will change everything.” Dalio's entire point is that they're both true at the same time, and that this is exactly how it has always worked.

In the 1920s, he explained, the revolutionary technologies were real. "Everybody knew that they were going to be great in the future and they were great in the future." The assembly line, then the car, then the airplane. They were all amazing technologies that changed people’s lives. But the Great Depression still happened despite all of the technological progress. In 2000, the internet was real and has reshaped modern life and the economy. But the dot-com bust happened anyway. The pattern isn't that the technology fails. The pattern is that people bet on real technology at any price, often with borrowed money, and then discover a very harsh truth:

"Wealth is not the same as money. You see a lot of people getting wealthy, but you can't spend the wealth. You have to sell the wealth to get money because you can only spend money."

For example, if a founder at a hot AI startup raises $50 million at a billion-dollar valuation, they become a billionaire, but only on paper. Nobody actually paid them a billion dollars that they can touch. "There's almost nothing that's easier to produce than stock," Dalio said. Paper wealth expands until somebody needs actual money—then everyone finds out the difference at the same time.

So will it pop? Probably, at some point, maybe even soon. Even Dalio won't call the timing: "Sophisticated investors have a real challenge even in timing a bubble ... the important thing always is to diversify."

→ This is a good time to revisit and complete the work inside What Real Diversification Looks Like.

That's his answer for holding a portfolio of assets that can survive any cycle from the first two lines. But hold that thought, because the rest of this essay is about a different piece of the portfolio—the one staring back at you in the mirror.

"Your Only Asset Is Yourself"

Midway through the conversation, Bartlett asked an important question: “What should someone do who doesn't have assets yet?” No stock portfolio, no property, just an income and some ambition.

Dalio didn't hesitate. "Your only asset is yourself ... you selling yourself is the main thing."

Then he shared what he called a formula of life. "If you could invest 10% more of your time and your effort for your skill to go up ... you will get twice as much for 10% better."

In other words, if something is just 10% better (say, like your writing, executive presence, or creating systems), it can command more value in the right circumstances. This is a rule he's noticed with art, furniture, and even people's work. The best in any field can charge much more than the average, and the gap between average and the best isn't as big as it seems.

Then Bartlett added something worth embracing. The same skill, he pointed out, gets valued wildly differently depending on where it’s applied: "You could be an Uber driver or you could chauffeur Ray Dalio ... the same skill of driving a car, broadly speaking, but you get paid very differently."

Translation: It’s not just about getting a raise or a promotion; sometimes it takes changing the room you’re in completely.

I experienced this myself. The skills I carried into LivePerson when I joined a newly created strategic accounts team in 2018 were not dramatically better than the skills I'd been using at Revel, when I was an Enterprise AE pursuing smaller brands at a smaller company. What changed were the rooms I entered. I had deliberately pointed my experience at a transformative industry—conversational AI, back when most enterprises thought chatbots were a “nice-to-have”—and in my first full year, I grossed just over $200K. The following three years, I averaged $1.1M annually.

As I’ve written about often, my writing was at the heart of my sales strategy that paid the big bucks. Yet, I was often working 50-60 hours a week, especially in the first couple of years in the strategic sales role. But now, I work closer to 24 hours per week.

My total work time from last quarter (source: the Early app)

My writing today includes contributing to my upcoming book, writing posts on LinkedIn (some of which I get sponsorship money for), and essays and lessons inside The Purposeful Performer that generate six figures in ARR. When you consider my tax rate is 0 compared to 37% in my W-2 role, and I’m working almost a third less, that’s real value that compounds in my favor, even if on paper, I’m making less.

Said another way: I’m the same driver driving the same car, but on a completely different road.

I now see it playing out in real time with my Inner Circle Members. Together, we’re turning their unique capabilities, amplified with AI, into more value—either in the form of more time, energy, attention, and money (or all of them at once).

It’s worth noting from my story. I didn't all of a sudden get 7x better at strategic selling between 2018 and 2019. I intentionally placed myself at the forefront of a trend where Fortune 500 brands were beginning to adopt Human + AI partnerships that could be implemented widely. This capability helped me achieve things that hard work or learning new skills alone, especially staying in my old role, couldn't have accomplished.

Keep that mechanism in mind. A bigger wave is coming, and more smart people are talking about it.

Entrepreneurial, Not Entrepreneur

Near the end of the episode, Bartlett asked Dalio what he'd tell a 16-year-old—what to study, what career to pick, how to prepare. His answer is the thesis of this whole essay, so I'll quote it in full:

"History has shown that it's not the most intelligent people that are the most successful, and it's not necessarily those that work the hardest, although these things are very important. It is those who are also most adaptable."

And then he made it painfully current: "It used to be, make sure that you know how to code. And then Claude Code comes along, and all of those who are coding worry about their jobs. So what is it that matters? It is the approach to life, in a sense, that produces the general understanding and also the adaptability."

What does adaptable actually look like for someone with a corporate boss and a quota?

For most of our lives, the answer to career anxiety has been: become an entrepreneur. Quit the job. Found something that solves a big problem. Raise the money. Build the empire. Change the world. And I get why it's seductive (I write about leaving corporate for a living after all).

But I think that answer is wrong for most sellers, and I say that as someone who left the corporate world to pursue my own thing.

The future isn't about being an entrepreneur. It's about being entrepreneurial.

The difference isn’t semantic. An entrepreneur is an identity—a legal structure, a payroll, one big concentrated bet that consumes your life whether it works or not. Entrepreneurial is a capability—training yourself to be really good at something that travels with you, then pointing that something at whatever opportunity, industry, or season of life you happen to be in, pursued at the intensity you choose. One is a title (dare I say, burden) you have to carry. The other is a property of you, and it goes wherever you go. It’s lighter and more freeing.

The futurist Sinead Bovell, whose work I shared back in April, has been describing where the third line in the chart above is taking us. As AI unbundles jobs into tasks, "work becomes more entrepreneurial for all of us. Instead of holding a single role at a single company, you offer your skills to several. You assemble a portfolio of engagements. You operate more like a small business than like an employee."

Notice she doesn't say everyone becomes a founder. Everyone becomes entrepreneurial—whether they choose to or not. The key now, which wasn’t always the case when I was coming through in sales, is whether you train for it in advance or have it forced on you in a RIF.

Longtime readers know I've been circling this since the very beginning. I’ve written in my own experience that sales is the rare profession with no barrier to entry and no ceiling ("very akin to entrepreneurship"), and that sellers should start with an entrepreneur's heart while the entrepreneur's brain comes later, with experience. What I couldn't fully see when I wrote that series is what I can see now: for most of you, the brain doesn't have to arrive in the form of founding a company at all. It arrives as judgment you pick up along the way—knowing what you're unreasonably good at, and knowing where that thing is most valuable this year, this cycle, this era.

My cold-calling script from my SMB AE days was worthless by the time I got to a mid-market IT consulting firm. Every specific hard skill I ever learned had an expiration date stamped on it somewhere. What never expired: the eagerness to learn, the organization, the timing instinct, the work ethic—and above everything else for me, the writing. The craft traveled with me. The temporary scripts didn't.

That's the training I’m all about inside here, whether you’re working through the content on your own or working with me one-on-one, or ideally both in tandem. It’s not "learn to run a business and escape corporate early." It’s more about getting really good at something and then letting it naturally carry you into rooms that don't exist yet.

The Best Training Ground on Earth

So where do you train for that?

I’m biased, and I'm also right: you're already standing in it.

You were already in sales before you got your first sales job. And if you're in strategic or enterprise tech sales today, you’re getting paid—likely multiple six figures—to practice the exact entrepreneurial capabilities everyone else will soon pay handsomely to learn. Finding problems worth solving. Building trust with strangers who control budgets. Turning a complicated story into a narrative an executive team will act on. Creating value first, so revenue naturally comes next.

That last one is the reframe I built my entire book around. Most sellers think they're revenue generators. But to generate revenue, you first have to create value—which makes you something closer to a creative: a person whose work is to bring value into existence where it was hidden or didn't exist before. Your title says quota-carrier, but your actual function is value creator.

Redefine your role around value creation, and pair it with long-term thinking, and something shifts. Your day job becomes what I've always said it is … not the destination, but the training ground.

When Dalio was asked who benefits from the AI revolution, he was blunt: "Those who benefit from it are those who are the capitalists with the ideas ... If you look at the share that is going to workers, you see that share going down. And if you look at the share that's going to those who own that business, that share is going up."

I hear that as get yourself some ownership. Not necessarily just equity in a startup or your tech employer, but ownership of a craft, a body of work, an audience, a product, a reputation that compounds while you sleep. These things are more accessible than ever. The question I asked back in February is still the question worth asking now (and often): what are you building that you own?

The Partnership Curve

Now for the part I promised—the machines, and the once-in-a-lifetime opportunity taking shape.

When Bartlett pressed Dalio on who actually wins as AI eats up most of the work, he gave this answer:

"I think that for the foreseeable future, those who can work very well where they have an exceptional human intelligence and work in partnership with the artificial intelligence—they are going to be at the cutting edge of all of this."

Notice what he didn't say. He didn't say AI-proof jobs. He didn't say prompt engineers. He said partnership—a human with real judgment, working with the machine, riding the third line instead of swept up by the other two. He estimated the group that captures this ranges from a fraction of a percent to maybe 10% of the population.

That door to the top 10% is an invitation.

Because that 10% isn't an IQ cutoff. Dalio said it himself—it's not the most intelligent who win, it's the most adaptable. Getting into this space is a behavior, not a birthright. It's built from exactly the raw material you've been stockpiling your whole career without knowing it: your judgment, your taste, your point of view earned through real deals and real consequences. The machine has none of those. It's generated from patterns, not from principles or lived experience.

Last week I told you I hit send on a 57,000-word manuscript at 1:30 in the morning before hitting the road. I'll say it again: I didn't write my book from scratch. Seven years of writing every single week wrote the book. What the machine did was collapse the distance between the mounting pile and something resembling a finished product. The standard stayed mine. The machine complemented the work, but never the personal taste.

That's what partnership looks like in practice, and it's why Dalio's practical advice to his own grandkids is so simple: "Just maximize your ability to know things, which is so easy to do nowadays ... and then use that to maximize your usefulness, in jobs that make you happy."

The Once-in-a-Lifetime Part

Let’s revisit the three lines happening to all of us right now.

The 80-year line: three world orders, all reset in 1945, all turning over at once. The six-year line: a bubble that even the man who called and survived 2008 says is real. And underneath them both: a learning line that has never gone down, always up and to the right, which AI is just making steeper as we go.

Dalio pointed out that the last time this configuration showed up—revolutionary technology, extreme wealth concentration, an old order wobbling—was the Gilded Age. What happened in moments like that is the same thing that happens every time the board resets: individuals capture what institutions used to keep.

That's the moment you're standing in. It’s not a scary time that happens to contain opportunity. It’s once-in-a-lifetime repricing of individual capability built on judgment, taste, craft, and trust, and it’s arriving at exactly the moment machines are making everything else cheap.

You don't need permission to act on this. You need what you've needed all along, the things no employer can give you or take away: transferable skills that create value, a financial runway, the ability to own the majority of your calendar, and a few options you’re obsessed with pursuing.

The entrepreneur bets everything on one thing all at once. The entrepreurial build a steady portfolio over decades. It’s never been a better time in history to be entrepreneurial rather than risk it all as an entrepreneur, and sales is the perfect launchpad and training ground for it.

Train the craft. Study the wave. Partner with the machine on your terms, with your high standards. And keep asking the only interview question the that will matter over the next decade: not "what do you do?" but "what can you build?"

The third line will never come down. The only decision left is whether your life is attached to it.

That's the anatomy. The architecture is yours to build.

Next week, I’ll lay out what’s to come in Learning Path 6: AI Fluency. See you then!

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