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this post was submitted on 23 Sep 2024
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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@froztbyte Your term of art in economics to describe this shitbaggery is "Veblen goods": https://en.wikipedia.org/wiki/Veblen_good
"a type of luxury good… for which the demand increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve. The higher prices of Veblen goods may make them desirable as a status symbol in the practices of conspicuous consumption and conspicuous leisure."
handy to know, ty