Regrets are not our friends. Defined as "a feeling of sadness, repentance, or disappointment over an occurrence or something that one has done or failed to do" it is quite literally what happens when you have MO'd or missed out. Even though FOMO leads individuals to attend way too many lame parties or engage in activities they shouldn't, the FO or fear of regret can be a powerful motivator to do or not do something.
REGRET MINIMIZATION is the frame Jeff Bezos used to start Amazon, asking himself which choice he believed would cause more regret: leaving his well-paying corporate job to experiment with the emerging internet revolution or staying put in a well-paying job but wondering what could have been. Even if Bezos is happy with this choice, it doesn't mean that was the right choice for everyone. Ultimately, it's a personal frame that requires we get really honest with ourselves and then trust that. When two roads diverge, it's a great tool for cutting through the noise.