Learning Pulse

Leapfrogging technology - how to get ahead

Leapfrogging in technology has several interpretations, but my thoughts are about the individual consumer's dilemmas of whether and when to buy new technology when you haven’t yet got as much return as you wanted for the technology you already have.

How to get ahead could mean how to save on your budget for the right opportunity to buy, and still be able to rub virtual shoulders with the people who always seem to have the latest toys.

Has this ever happened to you?
You come across an announcement of some cool new technology - let's say a new model of a PDA.
You go out and buy it for $600. No sooner do you open it at home when a friend (the "I know where the deals are" kind) tells you it's available at a lower price.

Let's take this scenario further.

Awhile later, your thrifty friend comes back with the same model PDA. You ask: "Are you happy?" "No" is the reply. "Why?" "There's a new model with more and better features."

Do we go and buy the newer model?

We sometimes say: "No, we haven't even got enough use out of the one we already have."
But, at the same time, we think "Ahh, but I'm missing out on joining the 'in' group enjoying the cutting edge of multimedia, networking, and convergence."

Another scenario could be that you are entering university and you already have a cellphone and laptop, but your program requires you to have a PDA or iPOD. Do you buy right away or try to use the existing features on your cellphone and laptop until the prices go down? Will what you have last until you graduate or will it be obsolete by your 4th year, your postgraduate courses or your first job?

If we sell it after a year or so do we get anything near our money back?

Sometimes the decision to replace is easier because the product breaks down after warranty ends and repair costs are closer to that of the new and better model.
In the case of my laptop, when the LCD panel died, I found that panel replacement would be over $400. I decided to buy a separate LCD panel for $200, use my PDA as a laptop and wait for a few intermediate models to come out so that I can economize and leapfrog my friend's latest toy.

Oh, and then being a do-it-yourselfer I took apart my laptop LCD panel and found that I can probably replace the flourescent backlight for about $20.

posted by Brian @ 12:50 PM