April 28, 2025
Doom scrolling. Ever heard of it?
The dictionary describes it as: “the practice of obsessively checking online news for updates, especially on social media feeds, with the expectation that the news will be bad, such that the feeling of dread from this negative expectation fuels a compulsion to continue looking for updates in a self-perpetuating cycle.”
Better question: Ever lived it?
Of course, the answer is yes. How could you not? Social media was created to be addicting. Notifications trigger a release of dopamine (the feel-good hormone) in our brains, similar to drugs or alcohol, though at a much lower level.
In The Chaos Machine, author Max Fisher explains that “when that dopamine reward system gets hijacked, it can compel you to repeat self-destructive behaviors. To place one more bet, binge on alcohol—or spend hours on apps even when they make you unhappy.”
The business case
There’s also no profit incentive to make things better. All those extra hours spent on platforms like TikTok, X, Instagram and Facebook mean extra revenue for the businesses behind them. In 2024 alone, Meta (parent company of the latter two platforms) generated $164 billion in revenue. Making these products habit-forming isn’t a new idea either. This addictiveness was built into them from the outset as a feature, not a bug.
According to Sean Parker, a Facebook co-founder (you may also know him as the character played by Justin Timberlake in The Social Network), social media platforms "are exploiting vulnerabilities in human psychology" and that social media pioneers like himself "understood this consciously and we did it anyway… The thought process that went into building these applications, was all about: how do we consume as much of your time and conscious attention as possible? That means that we need to sort of give you a little dopamine hit every once in a while, because someone liked or commented on a photo or a post…and that’s going to get you to contribute more content… It’s a social-validation feedback loop.”
Okay, okay. But is there any real statistical evidence that proves my breakfast trip down Instagram Lane is doing me psychological damage?
Why yes. Yes, there is.
Statistics Canada says that among social media users aged 15 to 64, about one-fifth reported that in the previous 12 months, they had done less physical activity (22%), had lost sleep (19%), or had trouble concentrating on tasks or activities (18%) as a result of their social media use. Around one in eight users (12% to 14%) reported feeling anxious or depressed, frustrated or angry, or envious of the lives of others.
The good
Despite the fact that it tends to be very profitable to own a social media platform that finds a way to hook its users, there are still many community-related benefits for those who use it in a more balanced way.
You may be part of an online forum for a productive hobby, have joined a neighbourhood Facebook group that recommends great restaurants, home repair or childcare options, or even use it as a means of staying connected with old friends and long-distance relatives. Or you may follow specific accounts to get your sports, business (or favourite pension plan) news. When used mindfully, social media can connect individuals to create a sense of community, social well-being and friendship. Official organizations also tend to focus on providing educational or informative content to their followers, rather than looking for ways to make you scroll endlessly.
“To be most effective, any interaction with your audience must happen at the right time and right place; social media is no different,” says Aaron Davis, Vice President, Digital Strategy and Brand Content, OMERS. In his role, Aaron is responsible for overseeing the Plan’s social and website channels while leading design and content development.
“In fact, given how deeply engrained social media apps are integrated into our daily lives, you could argue it's one of the most challenging places to interact with an audience at the right moment. For these reasons, and more, we seek to engage our audiences with content that is anchored in our purpose and that highlights the impact OMERS - members, employees, and investments - have in the communities we live, work and invest in.”
Seems like a healthier approach to connecting with an audience than shooting for a short-term dopamine spike.
So how do we find that balance personally?
“As with every aspect of our lives, finding balance isn't always easy,” Aaron explains. “Similar to OMERS approach to engaging our audiences - right time, right place, right content - it is incredibly important that we as individuals balance our own use of social media platforms. This isn't one size fits all, but for me this has (recently) come to life by putting my phone down on my nightstand and picking up a book instead.”
When used in this fashion, we have the potential to improve each of our experiences with social media. The key may very well be to focus more on the social, and less on the media.
The Relatable Economist is an ongoing written series focused on how the economy, geopolitics, markets and more are impacting our day-to-day lives, discussing topics that matter to you, even if just to share with your friends at your next get-together or in the stands at your child’s or grandchild’s soccer game. Have a topic you want to learn more about? Write to us at therelatableeconomist@omers.com.