Why the iPhone X?

The first decade of my life was spent in a 1,000 sq.ft. house-on-slab, built on an abandon wood lot. Thanks to that, the termites swarmed in the spring. Bad as it was, the parents managed to get foreclosed, so it was off to veteran's housing. This was 1960, and then at least one parent had to be a real veteran; during our years there the projects devolved into open welfare apartments.

The parents were a bit above average smarts, but below average ambition. Oh well. The point of the experience was this: by the time I was eleven or twelve I noticed that there were a lot of late model Buicks and Cadillacs in the parking area. Why, thought young Robert? Weren't there more useful and important things to own?

The answer from the point of view of those Caddy Daddies, as I eventually figured out, was: of course not. A fancy, even if old-ish, car was the most conspicuous object poor folk could still buy. Even if it meant lousy living space and lousy food and lousy clothes and lousy everything else. But that Caddy was parked outside the apartment.

The iPhone X is quite the same: a conspicuous object that doesn't do much more than far cheaper alternatives, but worth it as a measure of self esteem. Behavioral economists' fodder, for sure.