Hooked

79 percent of smartphone owners check their device within 15 minutes of waking up every morning.

Users who continually find value in a product are more likely to tell their friends about it.

all humans are motivated to seek pleasure and avoid pain, to seek hope and avoid fear, and finally, to seek social acceptance and avoid rejection.

Buffett and his partner, Charlie Munger, realized that as customers form routines around a product, they come to depend upon it and become less sensitive to price.

Many innovations fail because consumers irrationally overvalue the old while companies irrationally overvalue the new.

Habit-forming products often start as nice-to-haves (vitamins) but once the habit is formed, they become must-haves (painkillers).

products that require a high degree of behavior change are doomed to fail

To change behavior, products must ensure the user feels in control. People must want to use the service, not feel they have to.

Instead of relying on expensive marketing, habit-forming companies link their services to the users' daily routines and emotions.

A habit is when not doing an action causes a bit of pain.

For new behaviors to really take hold, they must occur often.