126. Loss aversion and why that makes us lose more
Do You F*cking Mind?
Alexis Fernandez-Preiksa - Neuroscientist and Mindset Coach
4.9 • 914 Ratings
🗓️ 21 February 2023
⏱️ 44 minutes
🧾️ Download transcript
Summary
This episode explains what loss aversion is, how it impacts your decisions around risk and major life changes and how it impacts your view on failure and success. If you can understand loss aversion you will learn to cut your losses, lose less and take more strategic risks.
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Transcript
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| 0:00.0 | Hello everyone. Hello, my beautiful angels. Today, this episode is going to be all about |
| 0:07.7 | turning failure into your ally. It's kind of what I want to explain to you guys is this kind of |
| 0:15.2 | innate thing that we have built into us and I think we've perpetuated it even worse just with |
| 0:20.6 | society and with how we |
| 0:21.8 | treat failure and how we perceive failure how avoiding losses actually makes you lose so much |
| 0:28.4 | more in your life and I'm going to go into that obviously in a whole lot more detail but it is |
| 0:33.1 | really interesting and once you kind of grasp this concept and understand why that is the case, |
| 0:39.4 | then you're able to be a bit more aware of what's going on and you're going to get better at |
| 0:44.1 | cutting your losses, knowing when to take risks that are going to benefit you and knowing |
| 0:49.4 | when to stop partaking in a behaviour, kind of like quit, how to know how to quit when you are |
| 0:56.1 | still ahead kind of thing. So I'm going to break that all down. I'm not going to give you too |
| 1:01.7 | much of an update other than I'm literally now going to, in the near future, I'm going to |
| 1:07.8 | start filming my episodes, my podcast episodes. So it's going to be a really big |
| 1:13.9 | transitional period for me because I'm so used to just kind of recording the episodes wherever I want, |
| 1:20.3 | just plugging in the roadcaster to my computer and directly recording it. I can kind of, |
| 1:25.1 | when I make a mistake, I just stop, I can take a break, |
| 1:28.5 | I fuck around, return back to it. It's a very, very, very casual event. If you saw it, you would |
| 1:35.0 | just, you would be either surprised or impressed because it's just, I can literally just be |
| 1:40.6 | lounging around in my pajamas, out of bed recording it or you know |
| 1:44.8 | anyway now I'm going to be filming these episodes and it's going to be full episodes but I also want to |
| 1:51.0 | have like more like short snippets of the episodes so there's like key moments that I can edit and |
| 1:57.1 | crop and share them on my social media and things like that so I think it's going to be really |
... |
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