Disconsolately pondering, this morning, the media frenzy over the KFC Bubble Brown Burger or whatever the thing is called, as I make my way to a briefing on the Reserve Bank’s financial stability report.
Well, I say ‘media frenzy’. The fact is people seem keen to read stuff about a burger. This coverage is demand-driven, dammit.
Now, I know media, especially online, is being driven these days by a thing called ‘FOMO’ – Fear of Missing Out. FOMO sounds to me, in fact, like some sort of psychological condition driven by insecurity. Either that or the brand-name of a personal hygiene product. (Or both, I suppose.)
FOMO would seem to be driving the demand for news about this new burgery thing.
Apparently this cholesterol-laden comestible item is a complex beast, and people need to study the aspects of it closely in case they don’t quite get it.
FOMO never seems to apply to things like prudential funding requirements, for some reason, at least not until it is too late (cf October 2008, Lehmans).
