“Ever since Bob, Giselle, and Dan had presented me with the “Ray Feedback Memo” in the 1990s, I had been much more explicit in writing down and sharing my work principles in the same way I had written down my investment principles. At first, this took the form of shared philosophy statements and emails to the entire company. Then, whenever something new came along that required me to make a decision, I would reflect on my criteria for making that decision and write it down as a principle so people could make the connections between the situation, my principle for handling these situations, and my actions. More and more, we saw everything as “another one of those”—another of a certain type of situation like hiring, firing, determining compensation, dealing with dishonesty—that had principles for handling them. By having them explicitly written out, I could foster the idea meritocracy by having us together reflect on and refine those principles—and then adhere to them.”