Against the Rules
Against the Rules

Episode 1: What’s Wrong with Eric?

Sports fans experience incredible highs and lows, and spend loads of money on a product over which they have no control. But for a long time, no one bothered to study the minds or impulses of fans. Michael Lewis finds out how that's changing as writers and academics learn more about the powerfu

Featured Speakers

Michael Lewis HostEric Simons Guest

Topics Discussed

Episode Summary

Executive Summary: The episode argues that sports fandom is a deeply human, emotionally powerful state that warps perception, fuels superstition, and can be exploited commercially. Through Eric Simons and psychologist Dan Wann, it shows fans cope with losses by rewriting reality, blaming refs, and embracing rituals—then connects this psychology to the explosion of sports’ cultural and financial power, and the rise of betting as a new way to “frack” fan emotion.

Main Topics: The weirdness of being a sports fan (Priority: 5/5): Eric Simons describes the misery and self-awareness that led him to question why fans voluntarily endure frustration, discomfort, and emotional swings for something they cannot control. Dan Wann and the psychology of fandom (Priority: 5/5): Psychology professor Dan Wann accidentally founded a field of sports-fan research and spent decades studying identification, coping, superstition, and fan behavior. Fans as irrational but not uniquely defective (Priority: 4/5): The episode argues fandom is not a pathology limited to sports; it reflects broader human tendencies toward group identity, motivated reasoning, and reality-bending. Sports as a central cultural and economic force (Priority: 5/5): Using TV ratings and team finance examples, the episode shows how sports moved from niche entertainment to a dominant cultural product with enormous economic leverage. The fan as prey in modern business (Priority: 5/5): The show frames fans as consumers with little bargaining power, while leagues, teams, media, and investors extract value from their loyalty and emotional attachment. Betting and the monetization of fan emotion (Priority: 5/5): The episode previews how sports betting and similar products exploit fan attachment even further, turning emotional investment into a directly monetizable resource.

Key Arguments: Sports fandom is a voluntary activity that people pursue even though they often know it will make them miserable at the end of the game. Fan behavior is shaped by universal human psychology: group identity, biased memory, superstition, and the need to protect self-image after losses. Dedicated sports fans are not lazy or antisocial; research suggests they can be more politically active, more culturally engaged, and more educated than non-fans. The lack of early academic attention to fans was striking given how large and socially important the phenomenon is. The cultural and financial rise of sports has made fan attention extraordinarily valuable, and organizations can increasingly exploit it without giving fans real control. Sports betting represents a new frontier in which the emotional state of fandom can be directly monetized and intensified. What looks like irrational fandom is often just normal human cognition amplified by competition, identity, and uncertainty.

Data Points: Year Eric Simons had the BART moment: around 2010 - Eric’s late-night ride home after a miserable game prompted his self-questioning about fandom. Year Dan Wann invented his research path: 1987 - Wann forgot a homework assignment and improvised a hypothesis about sports-fan behavior. Top-rated U.S. TV program in 1987: The Cosby Show - Used to contrast the media landscape of 1987 with the sports-dominated landscape of 2023. Only sports program in the 1987 top 30: Monday Night Football at 16th - Illustrates how marginal sports television once was. Most-watched broadcasts in 2023 that were sporting events: 93 of the 100 - Shows the dramatic rise of sports’ cultural dominance. NFL games outdrawing the State of the Union: 20 - Evidence of sports’ audience scale relative to national politics. NFL and college football broadcasts outdrawing the Oscars: 58 NFL games and 1 college football game - Demonstrates the relative reach of sports vs. major entertainment awards. Packers annual revenues in 1999: about $200 million - Andrew Brandt uses the Packers to show growth in fan monetization over time. Packers annual revenues in 2009: about $450 million - More than doubled in a decade. Packers estimated value in the late 1980s: roughly $90 million - If the team had been legally sellable back then. Packers current Forbes valuation: $5.6 billion - Used as a proxy for the accumulated value of fan loyalty. Left tackle salary last year: $21.3 million - Shows how fan-generated revenue supports massive player compensation. Average superstition impact belief score: about 5 on an 8-point scale - Fans in Dan Wann’s research knew superstitions were irrational but still felt compelled to perform them. Approximate number of years Dan Wann studied fans: 35 years - Wann describes a career-long focus on coping and fandom psychology.

Pivotal Quotes: "What is wrong with me? Why am I sitting here in the corner of a BART train, sweat-stained and smelling on like 8:30 on a Saturday night when everybody else is leading such a pleasant, normal life around me?" — Eric Simons: His self-questioning after a painful sports outing became the seed for his book and the episode’s emotional starting point. "We are so lucky we don't have a big noisy fan base paying much attention to what we do." — Oakland A's management (as cited by Michael Lewis): Used to explain how the absence of intense fan scrutiny gave the A’s a strategic advantage in the Moneyball era. "There’s a word for people who pay more and more for the same product, and who will continue to pay more and more, no matter how badly it makes them feel: addict." — Michael Lewis: Frames fans as consumers whose loyalty is extraordinarily exploitable.

Implications: Sports fandom is both a mirror of human psychology and a business model. As betting, media, and pricing schemes intensify, fans risk becoming easier to manipulate while leagues and platforms extract more value from their loyalty.

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About Against the Rules

Michael Lewis’s best-selling book The Big Short is now 15 years old. The Oscar-winning movie based on it came out a decade ago. To mark the occasion, Lewis has narrated a new audiobook of The Big Short. Here on his podcast, he and co-host Lidia Jean Kott are thinking about the legacy of the book, the movie, and the financial crisis of 2008. Michael catches up with the director of the movie, Adam McKay, as well as some of the real-life characters depicted by the likes of Ryan Gosling, Steve Carell and Jeremy Strong. He also calls up journalists, economists, and historians to make sense of the 2008 financial crisis and to understand how it still affects the world today.

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