If you find this interesting, Dalio has been posting extended context of these thoughts (unfortunately I've only seen them on LinkedIn, or I suppose you can wait for the release of his new book for which these posts seem to be excerpts).

The most recent one is below:

https://www.linkedin.com/pulse/delving-six-stages-internal-c...

Agreed with Dalio on this one. "Commerce is only good until it's bad."