> I wouldn't categorize smartphones as conspicuous consumption per se, because even when blinged out in gold they still tend to be pretty understated in compari

> I wouldn't categorize smartphones as conspicuous consumption per se, because even when blinged out in gold they still tend to be pretty understated in comparison the the dinner-plate sized Breitlings that finance bros used to wear. Trust me, "finance bros" still have plenty of insanely expensive items that are largely meant as signals to the people they work with (other people in finance). Further, just because it's more understated doesn't mean it's not primarily meant as a status symbol or signal to other people. Remember when the rose gold iPhone was more expensive than the other colors, and it sold out immediately? > So rather than buying fancy things to announce how rich you are, you just post instagram pics of yourself in fancy places. Is that really better? Maybe it's not materialism in the strictest sense of the word, but the underlying desire (to signal status to others) is the same. The only thing that's changed is the artifact of that desire.