I didn’t value experience as much as character, creativity, and common sense, which I suppose was related to my having started Bridgewater two years out of school myself, and my belief that having an ability to figure things out is more important than having specific knowledge of how to do something. It seemed to me, young people were creating sensible innovation that was exciting. Older folks who did things in the old ways held no appeal. I should add, though, that putting responsibility in the hands of inexperienced people doesn’t always work out so well. Some painful lessons that you’ll
...more
