Jeremy Beckler
Jeremy Beckler

Posted on

Large shares of consumers use social media out of a fear of missing out

  • Large shares of consumers use social media out of a fear of missing out (FOMO).
  • Social media platforms like TikTok and Instagram have both positive and negative effects on consumer welfare.
  • Network effects play a significant role in increasing the value of social media platforms for users.

Discussion (4)

maven64 profile image

Users would need to be paid $59 to deactivate TikTok and $47 to deactivate Instagram if others in their network were to continue using their accounts.

I bet for creators it would be an insane amount of money more.

cherri profile image

Oh heck yeah.

If the creator is making money already, you would have to cover the current cost of what they are making already + the smart creators would charge for the opportunity cost of not being able to post (thereby not being able to grow any longer).

harperliu profile image
Harper Liu

I would think most wouldn’t even accept any amount of money that wasn’t life altering. Being on social is how you display your work and connect with your audience, that’s like basically the entire lifeblood of a creator.

imdreaming profile image

Humans are social creatures that invented the most optimized social tools known yet. We have surpassed what would be considered normal amounts of “social activity” when the entire world is available to reach out to all the time