Various domains of life are improving over time, meaning the future is filled with exciting advances that people can now look forward to (e.g., in technology). Three preregistered experiments (N = 1,602) suggest that mere awareness of better futures can risk spoiling otherwise enjoyable presents. Across experiments, participants interacted with novel technologies—but, via random assignment, some participants were informed beforehand that even better versions were in the works. Mere awareness of future improvement led participants to experience present versions as less enjoyable—despite being new to them, and despite being identical across conditions. They even bid more money to be able to end their participation early. Why? Such knowledge led these participants to perceive more flaws in present versions than they would have perceived without such knowledge—as if prompted to infer that there must have been something to improve upon (or else, why was a better one needed in the first place?)—thus creating a less enjoyable experience. Accordingly, these spoiling effects were specific to flaw-relevant stimuli and were attenuated by reminders of past progress already achieved. All told, the current research highlights important implications for how today’s ever better offerings may be undermining net happiness (despite marking absolute progress). As people continually await exciting things still to come, they may be continually dissatisfied by exciting things already here.