Loss aversion is a very powerful concept outside of financial markets too. And I think it applies as well to sociological dynamics. If you are somebody who had privilege and your family has had privilege socially in the United States, then suddenly there's this prospect that might be exaggerated by politicians. There's this prospect of demographic shifts and global power shifts. You will fight harder to retain your asymmetric privilege than a lot of other folks will have resources to try to gain it in the first place. So I think that those dynamics are at play, not just in the markets, but socially politically. And that I expect better for my country than that.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode