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We wanted to specifically differentiate
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between FOMO and the idea of regret. So
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some people I think use the word FOMO,
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but they just regret not being there.
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>> Sure.
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>> And we wanted to define our FOMO as
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specifically not regret
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>> um and as specifically having to do with
00:00:20
social media. So social media
00:00:21
exacerbates it. And we also found from
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all our work over the 10 years that FOMO
00:00:28
tended to be used more when it had to do
00:00:31
with social groups, right, than when it
00:00:34
had to do with just missing an event,
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per se. So what you were feeling FOMO
00:00:38
was about something that you missed that
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your friends were doing that you weren't
00:00:44
part of, right? And what we found is
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that's what people really meant when
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they were saying FOMO and that's how it
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differentiated from regret. So something
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like if you missed out on a concert that
00:00:54
your friends were going to and they were
00:00:56
going to have that great experience but
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you were not going to have it,
00:00:58
>> right? And that's what over the years we
00:01:01
started saying that's where FOMO is
00:01:02
different than regret. You might regret
00:01:04
missing the concert, right?
00:01:06
>> But you feel FOMO if your friends went
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to the concert and you didn't. And so
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that's what we were really trying to
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tease apart. What does that FOMO mean?
00:01:15
What is it that you're missing? Right?
00:01:16
>> And what we thought it was is you were
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missing being there with your friends.
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>> So you were missing part of the social
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history that was being developed around
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your friend group.
00:01:26
>> And I'm guessing the component of social
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media then comes in when those friends
00:01:30
are maybe posting pictures or posting
00:01:32
videos from the event that you miss out
00:01:35
on. You see it and it just kind of it
00:01:38
doubles the the angst that you feel.
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>> Right. So that's what ended up being
00:01:42
what we started to study. It was
00:01:44
something. It's not just missing an
00:01:45
event. It's missing specifically an
00:01:47
event that your friends have that you're
00:01:49
not at. And it becomes exacerbated
00:01:52
because you're seeing all these pictures
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and you're imagining what went on that
00:01:57
you weren't a part of.
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>> So there's an element of that you're
00:01:59
looking at specifically kind of at the
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psychology behind a lot of this,
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>> right? And so just before I get to the
00:02:05
business implications of it, it took us
00:02:07
forever to publish this. So we're not on
00:02:09
publishing on the business yet, but we
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have thought about it and we have run a
00:02:13
bunch of studies on it. But there was a
00:02:15
couple things that was interesting about
00:02:16
this. So the first thing is it's not
00:02:20
about the event. So you can feel FOMO
00:02:22
even for a negative event, right?
00:02:24
>> Um so like you could your friends might
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go to a funeral and you regret not being
00:02:29
there because your friends were bonding
00:02:31
over things that happened at the
00:02:33
funeral. So it's it's not the event per
00:02:35
se, it's the bonding. The other thing
00:02:37
that we discovered the more we did
00:02:39
research on it was that it's not really
00:02:42
a fear. It's more like an anxiety. And
00:02:45
the difference is is an anxiety is kind
00:02:48
of cognitive. It's the way you think
00:02:50
about it. So you're imagining [music]
00:02:52
what you're missing out and it may be
00:02:55
you're not maybe missing out on that
00:02:57
much. It's just that you think you're
00:02:59
missing out on it.
00:03:01
>> Thank you for listening to the ripple
00:03:02
effect. We hope you found this episode
00:03:04
informative and engaging. Don't forget
00:03:06
to subscribe and leave us a review so
00:03:08
that we can continue to bring you the
00:03:10
best [music] insight from the Warden
00:03:12
School.
