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E002 - James Smith: Backpack My Way To Success
First Things THRST
Would You Shave 10 Grand Off Your Tax Bill?
At a bias of the mind, loss aversion, people find the psychological pain and loss is much worse than the equivalent gain. People come to Dubai and you get that pleasure from not losing money. So when we look at that, if you have an endorsement or a gym brand or a deal that's paying you, let's say 10 grand a month, for you to break free of the reins of that brand deal, the psychological pain is bad. You feel like you're giving up all of those things in a bid for freedom. And it's very difficult for people to rationally make that decision.
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