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There's lots of domains, like in finance, bonuses are a big part of the pay.

In many cases, it's most of the pay. Do you know of any industry where negative bonuses are common?

None. And why? Because people hate them. So instead of paying somebody

$100,000, unless you do something bad in which says it's 90, pay them 90 and say if you do something good you get 100 people will be much happier and

they'll keep working for you which is necessary for anything to work good morning everybody

this is guy Kawasaki and this is another episode of the Remarkable People podcast

where we bring people like Jane Goodall and Tony Fauci and Nobel laureates like today's guest,

Richard Thaler, also with Alex Imos. So these are two behavioral economists that have really changed the world. And I got to tell you that they both teach at the University of Chicago Booth School of Business, but their impact is worldwide.

I'm a little bit of a fanboy today because interviewing Richard Thaler is a big freaking deal for me.

And there's Jane Goodall, there's Tony Fauci, it's Richard Thaler, there's Angela Duckworth,

Carol Dweck.

This is all just game changers and you don't get to talk to people like this very often.

So we're going to talk about behavioral economics and the anomalies in life. So

welcome to the show Alex and Richard. It's great to be here. Thanks, Guy. And Alex is,

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