In this episode, we try to formulate an algorithm for buying new tech. We try to figure out when it's worth upgrading our iPhones, and how to think about new purchases in terms of their contribution to our overall happiness. We come up with several new mental models for thinking about consumerism, and reference the concepts of measure, diminishing returns and hedonic adaptation. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.