Some takeaways from the article "Buy wisely" by Steph Ango, founder of Obsidian
- cost per use as a heuristic to make decisions about non-perishable purchases, such as clothing, devices, and even subscriptions
- The basic question is "How much will it cost me if I divide the price by the expected number of uses?"
- cost per use = total price / number of uses
- a poor quality could be $5, but if you can only use it 10 times, it's $0.50 per use, the best quality, $20 could maybe last 200 uses instead, so it's $0.10 per use
- The best things asymptote (trends) to zero dollars per use over their lifetime
- other approaches
- cost per smile: how much joy can you get out of each dollar?
- cost per thrill: some experiences have high intensity per dollar
- cost per externality: Incorporate cost of externalities (values of organic produce, green products, etc.) into the cost you're paying
- cost per lesson: cost of experience and learning could be monetary, time, pain or all three.
Questions to assess durability
- Will it be as useful to me in the future as it is now?
- Is it made of durable and maintainable materials?
- Does it have a timeless style and aesthetic?
- Does it age well, wear well, build a wabi-sabi patina?
- Does it retain its resale value? Would someone else want to own it?
- Can it be disassembled and repaired?
- Does it have replaceable, non-proprietary parts that are easy to acquire?
- Can it be powered with a standard plug or replaceable batteries?
- Can it be modified and upgraded?
- Has the maker existed for at least as long as I hope to keep the product?
- Can it perform many jobs, or only one?
- Does it have a guarantee?
- Does it rely on other products or technologies that aren’t durable?¸