Ray Dalio, founder of Bridgewater Associates, has raised serious reservations about the viability of the “pod-shop” or multistrat hedge fund model over the long term, telling Bloomberg's Odd Lots podcast that while it may work for investment management, it is “not a fine way for building a 50-year-old business". Pod shops operate by having capital allocated between individual teams of investors, each pursuing their own strategy. Dalio says that this siloed approach makes it harder for traders to build relationships and benefit from the synergy of their different skills, undermining competitiveness and employee continuity. Dalio's Bridgewater was famous for a close-knit culture which encouraged open disagreement, recording meetings, and ranking of employees on attributes such as believability. He stepped down as co-CIO in 2022.