conspicuous consumption

8 Stories

Tech's Richest Hate Showing Off Wealth

From Facebook to Google, Silicon Valley frowns on flashy spending

(Newser) - Facebook's staff may be full of zillionaires, but don't expect Ferraris in the parking lot. Silicon Valley, where almost 14% of homes earn more than $200,000 per year, is deeply opposed to conspicuous consumption—hence Mark Zuckerberg's iconic hoodies and Facebook COO Sheryl Sandberg's underground... More »

Neiman 'Fantasy Gift' Pricetags Plummet to Mere $250K

Slowdown scales down costs as even super-rich turn 'frugal'

(Newser) - The slowdown in luxury spending has spurred Neiman Marcus to make its "fantasy items" in this year's Christmas catalog a lot less fantastic than in years past. For the first time in a decade there's no $1 million-plus items on offer, like the $20 million submarine offered in 2000... More »

Recession's Silver Lining: We're Content With Less

(Newser) - Americans are embracing the no-frills attitude necessitated by the recession, USA Today reports. One-third say they are spending less and plan to keep up the practice as their “new, normal” way of living, according to a study. A whopping 47% of Americans say they have all they need, another... More »

High-End Media Strikes Back at 'Luxury Bashing'

High-end media strikes back at mass-market press

(Newser) - Tired of watching its affluent readership attacked, upscale media outfits are striking back at their mainstream press brethren, Johnnie Roberts writes in Newsweek. Brett Andersen, editor of the high-end monthly Robb Report, had led the charge by blasting the “demonization of the wealthy and the industries that cater to... More »

Thrift Is Expensive in the Hamptons

Wave goodbye to conspicuous consumption in the playground of decadence

(Newser) - Keeping up with the Joneses means downplaying wealth in the Hamptons this summer, Allen Salkin writes in the New York Times. Conspicuous consumption is out, conspicuous thrift is in as Hamptonites try very hard to match the economic malaise in the rest of the country. “Low-key” and “beachy”... More »

TiVo-Amazon Deal Offers Onscreen Buying

DVR pioneer aims to create 'underpinnings of a future business model for TV'

(Newser) - TiVo and Amazon have teamed to introduce a “product purchase” tool that will allow viewers to buy the products being plugged onscreen, the New York Times reports. Soon, when Oprah Winfrey plugs a book or David Letterman talks up his musical guest, TiVo customers will be able to order... More »

Against the Odds, Maserati Sales Jump

12-MPG, $115K sports car sees 20% US growth so far in '08

(Newser) - Buoyed by wealthy, middle-aged men who can afford to defy high gas prices and a plummeting economy, sales of Maserati luxury cars are up in the US this year, Bloomberg reports. Common brands like Lexus and BMW have seen sales fall, but the very rich don't skimp when they see... More »

Wedding Biz a Pricey Sham

'Unique' weddings boost prices as marriages disappear

(Newser) - The wedding industry is a bloated, $10 billion sham that presses each bride to "express her essential self," Janice Turner writes in the London Times. Butterflies in boxes? Check. A “lifesized butterscotch-flavored effigy” of the bride? Check. But as odd offerings increase and wedding bills average $40,... More »

8 Stories