FOMO markets: individuals would prefer others not to use a particular product (e.g. TikTok), in which case they themselves would not use it. But given the others use it they feel compelled to use the product even if it makes them collectively worse off.
https://cepr.org/voxeu/columns/product-market-traps-case-social-media

🐦🔗: https://nitter.cz/lugaricano/status/1723993114925310321#m

[2023-11-13 09:16 UTC]