“FOMO (fear of missing out) is the enemy of valuing your own time.” -Andrew Yang
FOMO- The Fear Of Missing Out. A social anxiety that reigns over a variety of individual’s decision making skills. A force that drives people to make impulsive, not very well thought out and sometimes irrational choices.
This FOMO can come from a variety of situations. From our social lives to our economic outlook- there’s always something that can tempt us to act out of fear.
We don’t want to fall behind and settle for subpar when the brand new has everything you could want. Or miss an opportunity- whatever that may be: A fun time, a chance at something you’ve wanted for a while, a positive turn on an investment, the list goes on. This might be the only time to get it before it’s gone…
The Age of Information and Advancement
In this day and age, it sure seems like that for a lot of things, that this might be the only time- now or never. We have the internet in our pocket. Stimulation at the ready, wherever we are, whenever we want. We can move from one thing to the other faster than ever-thought possible.
Everything is moving exponentially faster into the future. Technology only continues to improve- new features added to things year after year. Solutions are constantly being sought and pursued for just about any problem that mankind can face.
FOMO in Crypto and Other Assets:
As time seems to only get faster and faster, it’s only natural that some might feel overwhelmed by the amount of change going on around them. Take Bitcoin for example. Some are reluctant to even think of the subject of digital currency being a legit form of payment. Others are curious and see the hype and potential yet have little to no understanding of Bitcoin or any other currency. These and the others who invest in times of inclines, see the green and try to get in before it’s too late- classic FOMO.
It happens in stocks, crypto, gold, phones, cars, real estate… anything really. There’s always a prime opportunity to get into any asset, and investors don’t want to miss out- so much so that many ensnare themselves into buying in at ATHs just before dips occur, often resulting in a negative sell off. Or they spend a good bit of coin on the “latest and greatest” when last year’s model is pretty much the same.
That temptation is real. You see the possible gains and they allure us into thinking we might have a chance at success. “ What if it’s up 200% tomorrow morning?” “But this phone is so much better than the one from last year.” “What if I never get this chance again?” These are the kinds of thoughts that can lead to ruin if not kept in check.
Need for FOMO?
But is there a need for this fear? Fear shouldn’t dictate our decisions, if you ask me. Logic, research and faith (faith meaning positive certainty expressed in action) should determine the direction of our choices. However, with that being said, one can’t help but to wonder… should I be putting my money into these things? Am I really going to miss out here?
With the trends of innovation and technological advancement, stretching across every field with an ever changing focus of pop culture, there truly is no reason to fear. DeFi, crypto, EVs, sustainable energy… we’re still in early phases of the “next big thing.” Trends and growth spurts come and go. If you have an idea of what’s hot or not in the economic, social and political spheres, then you have a chance at making a move to change your future.
We’re not going to catch everything. That’s just how it is. We’re all kicking ourselves for certain investments we missed. But if we’ve got money to invest and we’ve given attention to the world around us, we’ve got some hope. Invest wisely. No need for FOMO.
