FOMO can also affect businesses. Hype and trends can cause business leaders to invest based on perceptions of what others are doing, rather than their own business strategy. This is also the concept of the bandwagon effect, where a person may see others doing something and start to think it must be important because everyone is doing it. They may not even understand the meaning behind it, or completely agree with it. Despite this, they will still participate because they don’t want to be left out.
It’s not just the feeling that there’s something better you could be doing at the moment, but the feeling that you’re missing out on something fundamentally important that someone else is experiencing. In your mind, it seems like everyone else is having this amazing experience and you’re missing out.
It's becoming more common -- in part because of social media -- and can add a lot of stress to your life. It can affect almost anyone, but some people are at greater risk.
I read the news a few days ago. On September 19, 2024, Stephen Shore, an international photography master and world-renowned contemporary photography artist, gave a lecture in the academic lecture hall of the Central Academy of Fine Arts Art Museum. Halfway through his lecture, Stephen Shore found that the students sitting there were all looking at their phones, and angrily returned to the audience. I guess some of the students sitting there are working hard on social apps or games. We will talk about the impact of FOMO in this regard later.
This phenomenon was first discovered in 1996 by marketing strategist Dr. Dan Herman, who conducted research and published it in 2000.Brand Management MagazineHerman also believes that the concept has become more widespread through cell phone use, text messaging, and social media, and has helped flesh out the popular notion of FOMO. Before the internet, a related executive list phenomenon, “keeping up with the Joneses,” was widely experienced. FOMO has pervasively and intensified this experience, as more and more things in people’s lives are publicly documented and easily accessible. Additionally, there is a common tendency to post about positive experiences (like a great restaurant) rather than negative ones (like a bad first date). Studies have found that the likelihood of experiencing FOMO is associated with anxiety or depression.