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FOMO is disastrous for company strategies

rubenugarte.com

41–50 of 90 posts

Re: FOMO is disastrous for company strategies

#41

I would love to have whatever problems Google has, and if FOMO is how Google got to be/remain Google, please yes give me lots and lots of FOMO... My point is that maybe one of the most successful companies on the planet might not be a good example for illustrating "disastrous company strategies". I do agree, generally, with the article FWIW.

Google did not get to be where it is via FOMO.

Re: FOMO is disastrous for company strategies

#42
post #25
post #19

Earlier quoted context omitted.

But that bigger complaint didn't come up in this case, so why are we talking about it? It's not like the article dives into terms like SE, ICP, AE, CSM, or anything like that. "Non-trivial consequences," lol, cracks me up. Won't anyone think of all the lost productivity?

Are you the comment police or something? I replied to someone talking about not spelling out acronyms by talking more about not spelling out acronyms. I don't know much more on topic I could possibly be. Sorry if I offended I guess? I'll try not to discuss things as much on this discussion board.

[deleted]

Re: FOMO is disastrous for company strategies

#44

I would love to have whatever problems Google has, and if FOMO is how Google got to be/remain Google, please yes give me lots and lots of FOMO... My point is that maybe one of the most successful companies on the planet might not be a good example for illustrating "disastrous company strategies". I do agree, generally, with the article FWIW.

Google did not get to be where it is via FOMO.

Definitely not. They started with a good idea for search, and then they acquired a really good approach to selling ads. Everything else is a sideline, and most of those sidelines have lost money.

Re: FOMO is disastrous for company strategies

#45
The other side of FOMO is appearing as the US transitions to a shortage economy, like the former Soviet Union. It used to be that if something was popular, more of it would be made, and then the price would go down. Now, if something is popular, the seller is likely to restrict the supply to push the price and margins up. Buy now, while you still can.

Cars. Houses. AWS S3 space. Meta's VR headgear. Meat. Most of the toiletries and drugs CVS and Walgreens sell.

Re: FOMO is disastrous for company strategies

#46
post #45

The other side of FOMO is appearing as the US transitions to a shortage economy, like the former Soviet Union. It used to be that if something was popular, more of it would be made, and then the price would go down. Now, if something is popular, the seller is likely to restrict the supply to push the price and margins up. Buy now, while you still can. Cars. Houses. AWS S3 space. Meta's VR headgear. Meat. Most of the…

Meat is interesting... when I read this at first I was taken aback, thinking that while there might be 1-3 years lag in producers responding to demand, surely meat is nearly a pure commodity without market power being involved?

Then I remembered slaughterhouses:

https://www.whitehouse.gov/briefing-room/blog/2021/12/10/rec...

Re: FOMO is disastrous for company strategies

#47
It seems as though larger companies are typically those who fall prey to FOMO strategies, but many of them do successfully usurp smaller companies' markets simply by copying features. Sure, some of those features flop, but that doesn't make FOMO disastrous. Ex - after Snapchat launched stories, every tech company tested a copy. For Instagram, the copy was wildly successful, even if it was a relative failure for FB, LinkedIn, etc.

Re: FOMO is disastrous for company strategies

#48
post #32
post #6

Earlier quoted context omitted.

There is not much that is more annoying than an author assuming the reader knows the acronyms that they want to use. This particular case isn't as bad as others, but especially when getting into any sort of technical conversation it's wildly frustrating to see multiple acronyms used with no indication of what they stand for. Then you go to look it up and there's like 29 results that fit the acronym, half of them bein…

I swear the acronym BOGO appeared ex nihilo three years ago. I’d literally never seen it before then and was very confused about what it meant, and still am convinced it’s an acronym that a marketing firm invented to sound hip. (buy one get one for anyone out of the loop)

Merriam-Webster is reporting that the first attested usage of BOGO was from 1983, but I had never encountered the term until last night when my wife used it in conversation! It confused me so much she had to finally say "buy one..."

Then I got to explain bogo as a prefix in computing and chess before picking nits like "shouldn't it be BOGOF" (typical HN commentor that I am)?

Re: FOMO is disastrous for company strategies

#49
post #45

The other side of FOMO is appearing as the US transitions to a shortage economy, like the former Soviet Union. It used to be that if something was popular, more of it would be made, and then the price would go down. Now, if something is popular, the seller is likely to restrict the supply to push the price and margins up. Buy now, while you still can. Cars. Houses. AWS S3 space. Meta's VR headgear. Meat. Most of the…

I can just go buy a meta headset on their store, it's been that way a while I dunno if I would say there's a shortage there lol

Other headsets are more difficult to buy yea but the meta one is very much available

Re: FOMO is disastrous for company strategies

#50
post #45

The other side of FOMO is appearing as the US transitions to a shortage economy, like the former Soviet Union. It used to be that if something was popular, more of it would be made, and then the price would go down. Now, if something is popular, the seller is likely to restrict the supply to push the price and margins up. Buy now, while you still can. Cars. Houses. AWS S3 space. Meta's VR headgear. Meat. Most of the…

Things like cars -- and especially houses -- are in a different category than some random piece of hardware or a bit of server space, though.

With limited exceptions, no one is making more land. So there's a hard limit on the supply of cars and houses, at least until we manage to cover Mars in shopping malls and billboards.

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