Re: Famous truths...
I think you broke it, not fixed it. FOMO is not a Millennial thing -- the effect has been around, and exploited, for as long as marketing has existed.
That said, I honestly never understood the effect personally. I just know it's effective from marketing classes as well as personal observation. I don't think I've ever experienced a fear of missing out. Either I want/need something or I don't -- whether others are getting the thing (or what kind of deal they're getting) doesn't enter into it.
But then, I've been in business a very long time, and have learned that if someone is pressuring me to "buy now!", either explicitly or implicitly, the thing that's being pitched is more than likely not a good deal for me.