Don't be concerned about missed chances

My friend recently told me a story. In which, ten years ago, his family intended to buy some land but ultimately decided not to do it. The land price is now ten times higher. He said that his family regretted not buying it in the past since they were so close to committing.

This is a common occurrence that I see happening around me. People often regret not doing something they should have done in the past. This feeling is kind of like the reverse of a phenomenon people call nowadays ‘fear of missing out’ (FOMO). The fear and regret here don’t look so different to me.

• I should have bought this land 10 years ago.
• The gold price is rising, there might be a recession soon, we should go buy gold like everybody else!
• The AI is here to take our job, what should I do?
• etc.

It’s certainly true that one can take advantage of whatever situation the world presents and achieve a lot. But looking at reality, I find that once one has felt fear and regret set in, they have already lost the chance. What comes after is rarely productive; one might as well just give up.

I believe the principle of “What I don’t understand, I should not regret missing”. What is the use of a good opportunity if I don’t know why I got it in the first place? If I don’t know why I got it, it’s likely that it won’t happen again. It’s like drawing a lottery ticket and winning a small prize; it’s pure luck, you get the small one but you’ll never know where the big prize would come from. The main reason people buy lottery tickets is the big prize, and most of us won’t see it in our lifetime.

What should we do next after the fear and regret set in, you might ask? Do we really want to accept our losses and let the world push us around?

We don’t do that, and we definitely don’t let fear and regret control us. Instead, we learn to gain understanding of the world around us

• Why did the land price rise so much in just 10 years?
• What is gold? Why do people buy it? Why do some countries prefer storing gold, while others invest in cash?
• What is AI? How does it work? Can I use it?
• etc.

You might ask me, ‘What is the use of learning about these things after the deed has been done?’. You’re right, there is no immediate use. It’s unlikely that the same event will occur again in exactly the same way. New events will unfold unpredictably. However, by learning and understanding the world, how it shifts and changes, you increase your chances of comprehending the next event when it occurs or you might be able to foresee it.

There is no guarantee that you will be able to take advantage of the next world event. Life is uncertain, so you must be brave and rational. That is the best approach.

Until next time.