Less than five percent of it has been explored," he wrote. "But far more importantly, manned sub diving is critical for ocean discovery which is good for humanity because it provides learning about and protecting the world's largest and most important natural resource. 'The world's largest and most important natural resource' While the tragedy has brought a lot of media attention to risks related to deepwater voyages, such expeditions are safe as long as proper safety standards are met, Dalio said. The company had reportedly avoided industry-standard safety tests, used lighter and cheaper materials to build the submersible and dismissed concerns raised by its own staff. Several experts have pointed out that the accident appears to have been caused by OceanGate's poor safety standards. All five passengers, including OceanGate CEO Stockton Rush and British billionaire Hamish Harding, were killed. Given this excellent track record, diving in a classed submersible is no more risky than taking a commercial flight or driving in a car," he added.ĭeep-sea exploration has come under intense public scrutiny after US-based OceanGate's Titan submersible imploded less than two hours after it set out on June 18 to explore the remains of the RMS Titanic located nearly 13,000 feet underwater. "Over the last four decades, no sub that has gone through the certification process has experienced any form of catastrophic event even though more than 2 million dive trips in these vehicles now happen every year. "Manned submersible diving isn't risky - it's very safe when well-established protocols, most importantly the certification process, are followed," the founder of the world's largest hedge fund, Bridgewater Associates, said in a lengthy LinkedIn post Wednesday. But billionaire investor Ray Dalio, also the founder of the nonprofit ocean exploration initiative OceanX, has pushed back against the paranoia. Deep-sea exploration has come under a cloud of skepticism and uncertainty in the aftermath of the recent OceanGate submersible tragedy.
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