I love a good signaling and status competition. There are so many ways to to signal that at the far reaches of taste you will never fear to tread. Just don’t worry about how other people live.
I’ve worked in luxury fashion and venture capital and they run on the same rules. And it’s all snobbery up and down and it is a mixed bag when it comes to what works in reality.
I’ve known sneakerheads who seamlessly transitioned to private equity because they know in some fundamental way that rising price increases demand in strange markets. But the little signals can give away your whole game and you can’t always assume you are speaking their language.
Many an investor and fashionista has made good use of this basic understanding of a Veblen good. The more expensive it gets, the more it stokes demand. Everyone thinks they can become Hermes or Facebook but if you could well you would have.
This can fuck with actual performance as the thing being performed isn’t necessarily the thing that is getting done in reality. You can show your own displeasure with the pricing scheme by not participating. You can short a thing with a little creative and signaling of your own.
Many decided will continue to play along despite not needing to participate in status games. Outsourcing taste is actually something you can pay for and sometimes you should just get a realistic budget.
Often you really can’t afford to play the game and it’s better to cultivate your own taste and satisfactions in life so you are comfortable taking on the risk load of stepping out of unnecessary competition. You play your own game and win on your own terms.