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Sean Combs and Ray Dalio shake hands. Photo: J. Countess via Getty Images

Ray Dalio is more investor than businessman. Still, after making billions in the rarefied world of finance, he found himself on Forbes magazine's list of "100 Greatest Living Business Minds," which in turn led to him being introduced to entrepreneur and rapper Sean Combs (aka Diddy) — who also made the list.

Driving the news: Dalio released a 24-minute video of a "mentor session" he had with Combs, all part of his quest to "help other people." It's even more excruciating than the Blackstone holiday mascot video, if only because it's longer.

  • Given the opportunity to ask questions of the world's third wealthiest hip hop artist — the marketing genius who's behind Cîroc vodka and who also founded Bad Boy Entertainment, Revolt and the Sean John clothing line — Dalio instead talked to Combs about spec sheets, "radical open-mindedness," and how "pain and reflection equals progress."
  • The racial dynamics are hard to ignore: A white billionaire explains to a successful black entrepreneur the ideal "formula for success" — despite the fact that Dalio has just as much to learn from Combs.
  • This is a rather stark contrast to the genuine and symmetrical friendship seen between Martha Stewart and Snoop Dogg.

What they're saying: Axios asked for a comment from Bridgewater about what Dalio learned from Combs. Dalio replied he “learned that [Combs] has that powerful combination that exceptionally successful people have of humble open-mindedness, intelligence and determination.”

  • Dalio’s response points out what he learned about Combs, not from him.

Our thought bubble, via Axios' Felix Salmon: A one-on-one mentoring session with Dalio can be looked at as an invitation to the world's worst VIP room. It's something extremely exclusive, and certain people would pay a lot of money to experience it, but it ultimately provides nothing of real value.

Go deeper: Teaching the ethics of entrepreneurship

Go deeper

Updated 1 hour ago - Politics & Policy

British national named in Colleyville synagogue standoff

A law enforcement vehicle sits near the Congregation Beth Israel synagogue on Jan. 16. Photo: Brandon Bell/Getty Images

British national Malik Faisal Akram took four people hostage at a Texas synagogue outside Fort Worth on Saturday, the FBI said in a statement.

State of play: Authorities had initially declined to release the name of the 44-year-old suspect or identify the hostages, all adults, though police chief Michael Miller confirmed that one of those held was Rabbi Charlie Cytron-Walker, who leads the congregation.

Updated 1 hour ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Concerns grow over CDC's isolation guidelines — Experts warn of more COVID-19 variants after Omicron — WHO recommends 2 new treatments — What "mild" really means when it comes to Omicron — Deaths are climbing as cases skyrocket.
  2. Vaccines: America's vaccination drive runs out of gas— Puerto Rico expands booster shot requirements— Supreme Court blocks Biden's vaccine mandate for large employers.
  3. Politics: Vivek Murthy calls SCOTUS vaccine mandate block "a setback for public health" — Focus group says Biden weak on COVID response, strong on democracy
  4. Economy: America's labor shortage is bigger than the pandemic— — CDC COVID guidance for cruise ships to be optional starting Saturday — The cost of testing.
  5. States: West Virginia governor feeling "extremely unwell" after positive test — Youngkin ends mandates for masks in schools and COVID vaccinations for state workers — America struggles to keep schools open
  6. World: Beijing reports first local Omicron case weeks before Winter Olympics — Teachers in France stage mass walkout over COVID protocols.
  7. Variant tracker
7 hours ago - Sports

Novak Djokovic loses Australian visa appeal

Novak Djokovic of Serbia plays a forehand during a practice session ahead of the 2022 Australian Open at Melbourne Park on January 14, 2022. Photo: Daniel Pockett/Getty Images

Tennis star Novak Djokovic left Australia on Sunday evening, facing a three-year visa ban after an appeals court in the country revoked his visa.

Driving the news: Djokovic will not be able to defend his Australian Open title when the tournament starts in Melbourne. The World No. 1 is looking to break a three-way tie with Roger Federer and Rafael Nadal for most Grand Slam men's singles titles.