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Bestselling author Michael Covel is the host of Trend Following Radio with 10+ million listens. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trading -- all passionately explored and debated. Guests include Nobel Prize winners: Robert Aumann, Angus Deaton, Daniel Kahneman, Oliver Hart, Harry Markowitz & Vernon Smith. More guests: Jack Canfield, Howard Marks, James Altucher, Dan Ariely, Jean-Philippe Bouchaud, Kathleen Eisenhardt, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Tucker Max, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams.

Praise:

“Your questions were excellent questions. I enjoyed this very much.”

--Vernon Smith, Nobel Prize in Economics

“You’ve surrounded yourself with one of the most advanced group of mentors possible…The people on your podcasts, and people in your life, all are people with strong opinions, all people that make you think and make you grow. You just have some kind of an affinity for people like that, and that’s part of what makes you good at what you do.”

--Ed Seykota

“Michael Covel’s podcast has had over [9.5] million listeners and he’s completed [900+] episodes. He’s probably the most established podcaster on this list—and it shows. Mr. Covel’s podcast is great for those looking for alternative views on the market, those who are tired of hearing the same old stories told on CBNC and other traditional outlets. This is highly recommended if you are looking to expand your mind in investing. Mr. Covel has had some incredible guests, to include multiple Nobel Prize winners and world-famous investors. One of my favorite episodes was when Mr. Covel interviewed Annie Duke, a former professional poker player who has some incredible insights on decision making. Mr. Covel always has me thinking and Annie Duke only amplified my brain-wave activity.”

--Wall Street Journal

Sep 20, 2021

Most marketers, innovators, executives, activists, or anyone else in the business of creating change, operate on a deep assumption. It is the belief that the best (and perhaps only) way to convince people to embrace a new idea is to heighten the appeal of the idea itself. We instinctively believe that if we add enough value, people will eventually say “yes.”

This reflex leads us down a path of adding features and benefits to our ideas or increasing the sizzle of our messaging – all in the hope of getting others on board. We call this instinct the “Fuel-based mindset.” The Fuel-based mindset explains so much of what we do, from adding countless trivial features to software, to bolting a sixth blade onto a shaving razor.

By focusing on fuel, innovators neglect the other half of the equation – the psychological Frictions that oppose change. Frictions create drag on innovation. And though they are rarely considered, overcoming these Frictions is essential for bringing new ideas into the world. David Schonthal highlights the four Frictions that operate against innovation:

  • Why their best ideas get rejected – despite their undeniable value.
  • How to disarm the forces of resistance that act against change.
  • How to transform the very Frictions that hold us back into catalysts for change.

David Schonthal’s The Human Element is an great resource to help people overcome the powerful forces of human nature that instinctively resist change.

Bio: David Schonthal is a Clinical Professor of Innovation & Entrepreneurship at Northwestern University’s Kellogg School of Management, where he teaches courses in new venture creation, design thinking, business acquisition, healthcare entrepreneurship, corporate innovation and creativity. He is also a Senior Director of Business Design at IDEO.

In this episode of Trend Following Radio:

New Ideas and Innovation
The Human Element
Improving the Idea
Four Primary Frictions
Apple Products
Simplicity in Design
Dating Apps
Medical Innovations