Mike Michalowicz
speaker
1,537 appearances
2 recordings
1 series
first heard Feb 2026
last heard 20 Feb
Mike Michalowicz’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Feb 2026 with 2.
Appearances
Yeah.
Loss aversion is so interesting.
Loss aversion is once we possess something, we'll go to extremes to retain it, even though it's illogical, but we won't go to those same extremes to gain it.
So we'll do more to retain than we will to gain.
Classic example, you drove up in a nice car.
I was admiring your car.
Yeah, I love it.
Purpley pink Porsche.
It's gorgeous.
And so this Porsche pulls up, and a Porsche would be a dream car for me.
I do have another dream car I love, but...
If I bought that Porsche, I would put it into my garage and save it, and drive around and show it off and polish it.
If I didn't have enough money saved and couldn't pay for it, and the dealer calls me and says, we're gonna claim the car back and take the slips back, I will maybe take a second job, maybe I'll drop insurance, maybe I'll stop driving, I'll just keep it in my garage because it's my baby now.
But here's the thing, I'll do extraordinary things to retain it, second job, drop the insurance, but I won't do those things to get it in the first place.
That's loss aversion.
When we have a certain life standard, it is very hard to reverse that.
So now I live in my new beautiful home.
I'm not going to lose that.
And so we will go to extreme measures to keep it, and sometimes illogical.
I'll take on debt.
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