The novelty bias is a form of informal logical fallacy, where we consider that something is better simply because it’s new. Of course, in some cases, novelty seeking does correlate with benefits. For example, a newer computer may offer improved speed and performance. However, not all new ideas and objects will offer benefits over something older or more established.
It’s always easy to see the latest tech innovations (like iPhones) and convince ourselves that we need them. If we think about the pros and cons and let them sit in our minds for a while. We’ll either forget about it or convince ourselves we don’t need it. In rare cases, the new toy improves our life.