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#096: How Cognitive Biases affect media consumption – Dan Monheit

By Jordan Michaelides

Dan Monheit ( @DanMonheit ) is the Co-Founder and Director of Strategy at creative agency Hardhat, Co-Host of the Bad Decisions Podcast, MC of lecture series Real Big Things and a self-confessed sneakerhead.

As I’ve said in our previous episode, Dan truly embodies the archetype that is “Chutzpah” – combine that with his need for incessant learning on cognition and you have one impressive media brain. From small beginnings lecturing at Monash University, to jumping straight into his own agency, Dan is full of that entrepreneurial spirit we see common amongst our guests. Couple that with running a podcast, a series of lectures with a fascinating premise and running the strategy of HardHat – you have an immovable force in a rapidly changing industry.

His thirst for cognitive biases is fascinating to me, being that I’m also obsessed with psychology. This was a great catch-up episode that allowed us to go much deeper on those specific topics, where we discussed:

  • Talking about podcast setups
  • The Benjamin Franklin Effect
  • The Six Second Film Festival
  • Indulging in curiosity through multiple projects
  • Real Big Things, running events
  • Ad agencies and the value of brands
  • The future challenges & what hasn’t changed in media
  • Behavioural economics & cognitive biases
  • Differentiation between co-founders
  • Leaders he respects in the ad space

Listen to the episode

Watch the episode: 

SHOW NOTES:

01:17 – Introduction
04:15 – Podcast setups
06:01 – The Benjamin Franklin Effect
07:52 – The Six Second Film Festival
15:23 – Indulging in curiosity through multiple projects
17:39 – Real Big Things, running events
20:53 – Ad agencies and the value of brands
26:12 – The future challenges in media
30:33 – What hasn’t changed in media
33:24 – Behavioral economics in advertising
37:45 – Cognitive biases
45:01 – Applying and understanding biases
48:01 – Growing a small agency
55:47 – Differentiation between co-founders
01:01:08 – Leaders he respects in the ad space
01:02:14 – Exercise routine
01:02:43 – If he had to do a Real Big Things talk on something different
01:04:21 – What is obvious to him, but not to others
01:05:15 – A quote he lives by

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