Fyre Festival Failure: The Price of FOMO

Psychologists break down how the power of influence, scarcity mindset and FOMO played a role in the failed music festival.


Known as ‘the greatest party that never happened,’ the failed luxury music festival inspired documentaries on both Netflix and Hulu that are on everyone’s must-watch list.

Our panel of Shrinks is discussing the psychology of the Fyre Festival founder and documentary villain, Billy McFarland, the role of FOMO (or scarcity mindset), and the power of influence.

Listen in below or anywhere you find podcasts.

Loss aversion is where you respond differently where you’re faced with a situation where you may miss out on something instead of gaining something.

 – Dr. Emma Kate Wright

Being Human

In our Being Human segment, the Shrink Tank Podcast panelists discuss some of the latest findings on psychology in the news.

New research published in Brain and Behavior provides evidence that religious and spiritual beliefs lower the risk of depression because they’re associated with changes in white matter microstructure, the communication pathways of the brain.

Our panel of Shrinks discusses this and more in today’s Being Human. Read the article that inspired the discussion here.

Watch our Podcast on YouTube!

We’re expanding the Shrink Tank Podcast to another platform. If you’re more of a visual person, check out video footage during our live recordings of the Shrink Tank Podcast. Visit our YouTube playlist here.

Speak your Mind!

Comment below or send us your thoughts at feedback@shrinktank.com. Your input could even be featured on the next episode of the Shrink Tank Podcast!

Need a longer session with the Shrinks? Check out our last episode here.



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