What % of what you do is motivated by social influence?
Peer pressure does not go away on the middle school playgrounds. We all make major decisions that are, often in someway, motivated by the actions of others.
Partying. Shopping. Sports. Getting married. A large percentage of our spending can be accredited to the “fear of missing out” (FOMO).
ˈfōmō/ , pronunciation
anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media website.
FOMO is real, and it has been amplified by the digital world.
You cannot login onto Snapchat or Facebook today before catching yourself starting to get jealous over your friend’s illustrious habits.
So what do you do about it? Likely, you are encouraged to go out more. You are encouraged to spend more — motivated by the fear of missing out.
The same applies to the world of investing 💰. No one wants to miss out on money. And investing in stocks makes it seem so easy!
- Tesla ($TSLA): Up 1075.35%
- Facebook ($FB): Up 301.52%
- Boeing ($BA): Up 242.91%
In hindsight, it all looks so simple. If we would have all invested “back then,” we’d be millionaires right now!
My friend Shiv and I just put together this little web app that lets you see (and cry) over how much money you would have made investing over the past 15 years. TL;DR — It is often a lot of money.
The FOMO is real.
You can use the site to see how much you would have made investing in Facebook, Tesla, Apple, Snapchat, Facebook, GoPro, and many other stocks.
Check out ExtremeFOMO on Product Hunt
But back to a more serious tone for a second — I am a big subscriber to the idea of “thinking for yourself.”
There is so much noise out there telling you what you should and should not do with your life. (I sometimes contribute to that, and I always try and make the note that none of this is prescriptive).
At the end of the day, no one can perfectly understand your life. We are all individuals. It is a single player game.
You do you.