Economics, Customer Insight & the Psychology Behind Investment Decisions | DisrupTV Ep. 83

In this episode, hosts R “Ray” Wang and Vala Afshar sit down with:

  • Barry Ritholtz, Co-Founder & Chief Investment Officer at Ritholtz Wealth Management.
  • Michael Robison, CEO & Co-Founder at One Pebble.
  • Esteban Kolsky, Principal & Founder at ThinkJar.

They discuss how investment strategies are influenced not just by data and markets, but by human behavior, trust, customer feedback, and how those interrelate with macro-economic forces. The episode blends insights from finance, technology, and customer experience.

Key Takeaways

Behavioral Economics in Investment
Barry Ritholtz highlights how investor decisions are often influenced by cognitive biases, emotion, fear, and greed — not just cold hard analytics. Understanding these psychological drivers is critical for both wealth management and innovation.

Value of Customer Feedback & Trust
Esteban Kolsky emphasizes that organizations often accumulate data, tools, and tech, but overlook what people truly need. Customer trust and perceived value matter more than having the latest systems if those systems don’t drive real, meaningful experiences. 

Innovation & Risk Appetite
Michael Robison discusses how startups, products, and business models need to balance risk and innovation — that being too conservative stifles creativity, while unbridled risk leads to instability. Finding that equilibrium is key. 

Macro Trends & Their Impacts on Decisions
Broader macroeconomic trends — interest rates, regulation, global markets — exert strong influence on how investors think and where organizations allocate capital. Planning without sensitivity to macro is planning without grounding. 

Transformation is as Much People-Driven as Technology-Driven
Across the discussion, there’s a recurring theme: even in finance and innovations, the most successful transformations are those that align with human behavior, trust, cultural readiness. Technology or data alone are insufficient.

Final Thoughts

  • Decision-making in both investing and enterprise innovation is deeply relational: trust, clarity, human psychology, and customer feedback must be central, not peripheral.
  • Wealth management and venture creation benefit from integrating behavioral insights — anticipating how emotions, biases, and expectations will tilt outcomes.
  • Macro forces are sometimes ignored in innovation conversations; but remain powerful levers and constraints. Leaders who understand, anticipate, and plan for global/regulatory/economic shifts will be better positioned.
  • For change to work, the human side must be addressed: communication, transparency, trust, culture, feedback loops. Technology or financial models without that dimension are fragile.

Related Episodes

 

Business Research Themes

Future of Work, Tech Optimization

Roles

Chief Executive Officer, Chief Financial Officer, Chief People Officer