Lets talk how cultural capital creates financial capital

[eliquid]

Who wants to start?

Wondering if anyone on the forum here can make a good debate for or against it.

 

[Poplanu]

Had to google this one up as I had always seen it referred to as social capital, here's a quick definition for anyone reading:

In the field of sociology, cultural capital comprises the social assets of a person (education, intellect, style of speech, style of dress, social capital, etc.) that promote social mobility in a stratified society. [1] Cultural capital functions as a social relation within an economy of practices (i.e. system of exchange), and includes the accumulated cultural knowledge that confers social status and power;[2][3] thus cultural capital comprises the material and symbolic goods, without distinction, that society considers rare and worth seeking.

It absolutely can create financial capital, but it's like... it's just a tool at the end of the day. Usually scoring pretty high on all of the above points means that you have been brought up in the higher strata of the society. Like the British upper class being all from Eton and a couple other boarding schools, for example. So there is a case between correlation & causation there as well.

I'm gonna say that cultural capital can create financial capital. Not necessarily does. It's one way to do it. It's not guaranteed. And I think that a large part of that effect comes from the long-lasting connections that you make with other rich/successful people in high school & college who go on to be prime ministers, high-ranking executives etc. It's all that connections & relatability thing. The social strata levels that you were brought up in and that you belong to. Insiders and outsiders.

But I think a lot of that stuff listed safely falls under self-development and will yield dividends no matter whether you manage to generate financial capital from it or not.

I have consciously improved most things from that list, which was not hard as I was starting out from pretty much being a slob in my early 20's with near-zero fashion and social skills (could only move upwards). I watched Obama & Trump videos to learn when to make breaks in speech & how to use my hands while talking (they were motionless before). And recently I've fixed up my fashion to the extent that I finally dress better than 90% of men on the street while also feeling confident, chill & good about it, for different occasions. I fixed my voice from being high-pitched and nasal to being just okay, average, not annoying. Manly when I want it to be. Just pattern recognition really, and copying people that you want to be like.

I did most of it for dating and self-confidence, but it's really just universal kind of stuff. The lifetime ROI on always dressing well, presenting yourself well, looking clean at all times, looking well put together is fucking-out-of-this-world-massive. An insane boost to your confidence and life quality. Same with good social skills and learning to communicate properly.

But that cultural capital stuff is also different from country to country. I've never been to the states but from what I've seen around the world, Europe is way more elitist about certain things than the USA. And some countries in Europe are more elitist than others.

 

[JOoa0ky]

These days I dress like a hobo.

I don't dress up to go see people but other people dress up to come see me. I don't answer to anyone's beck and call because I don't work for anyone but there are tons of people who would love to have my business.

With that being said... it is of my opinion that acquiring/creating money comes down to two basic concepts:
- Solve a problem.
- Ideas don't move mountains, bulldozers do.

Ideas are a start but ultimately it is action/execution that brings it into fruition.

I still remember my banker telling me that a LOT of people send in loan applications to start a business but very few actually move forward despite getting approved.

Courage is in far shorter supply than genius.

 

[bernard]

The Nepo-baby meme does capture most of it I think.

Personally, I am not so sure it strongly relates to financial capital, because people with money care about money. Rich people do business out with all kinds of people if they make them money. I don't think you can really fuck up too bad if we're talking business ideas.

The exception might be if you're the kind of anti-Randian scammer, the type to seek out rich old money types and get their money by exploiting their social codes. Like Bernie Madoff types.

Then of course all the other kinds of money raising, such as for art, book deals or media projects etc, where it definitely helps to have cultural capital, to be someone interesting. I would say that's where it really matters, the creative business.

Overall, I think cultural capital is more something that helps with stuff like getting a central apartment, a cushy middle class job and definitely in dating. Cultural capital is a way to circumvent the need to hustle in a way.

 

[Poplanu]

These days I dress like a hobo.

You can level up hobo mode as well. I have a €150 handmade in Germany thick oversized black hoodie that looks and feels like a million bucks. It's basically perfect, probably the best oversized hoodie in the world. Those guys don't cut corners. Vishu.de if someone interested, they're only word of mouth & 2 guys sewing & designing everything themselves.

Mix & match with colors that work. Quality pieces that are both comfortable and look quality. Premium white/grey full leather sneakers. Or whatever you vibe with.

It's not all suits and shirts, in fact the city I'm in is so casual that I haven't worn a suit in ages. Have to fit the environment, one step above the rest. Everyone in T-shirts, wear a shirt. Everyone in shirts, wear a blazer. That kinda logic. Well, people don't even wear shirts here that much so I'm happy just roaming around in quality basics that work together, fit, & work with my skin tone. Black unbeatable, but now have to vary it up for summer.

There's a certain freedom I like to go for with dressing. A bit of sprezzatura, keep things muted but interesting. It's an act of creative expression for me. But I'm lazy, so it has to be easy as well.

If that certain kind of freedom is missing with an outfit, stuff might fit... But it doesn't look and feel free. It doesn't look natural. Doesn't look effortless. It has to look and feel natural, effortless, while being above most people around you.

Took a lot of trial and error to get to this point, but now I'm reaping the rewards haha. Imagine looking better in a hoodie than most guys look in a suit. Just gotta get the details right. Most don't get the details right & haven't developed pattern recognition to see when something just works together intuitively. Takes time.

 

[BakerStreet]

I think it's a little of both. On one hand, you need to fit in if you want to go anywhere. Companies mostly hire on "cultural fit" so if you don't fit in, you won't get hired. Definitely true for stuff like law firms or investment banks or even SEO agencies. Therefore if you don't fit in to the culture that is rich, it'll be hard for you to become rich!

On the other hand, if you trying to fit in with the rich culture causes you to live beyond your means, you won't get rich. You need to spend less than you earn and save money to build capital. As simple as that. Many attorneys appear rich but their expensive lifestyles cause them to be ever working class.

It's not like a something you have or don't have thing though. You can learn culture and most business people end up learning other culture, just because the world is so globalized.

I also think it has a lot to do with what one generation passes down to the next at the dinner table. Families who are rich teach their kids differently than the working class or poor. That's for sure. That "cultural capital" is something that you can only get by making rich friends

 

[secretagentdad]

This thread seems a bit hung up on fashion so far.
I dunno; Don't dress like a networker.(ick) Don't dress like a bum. (I'm probably to far on the bum side. They'lle never take my crocks away.)
I agree, good quality hoodies are great investment that signals good taste.

Since it seems like we're talking social mobility and "networking" so far I'mma focus on that perspective.

My best cultural investments that ended up translating to financial capital have been going to cool places and attending events.
From what I've seen.
Nobody want's to hang out with a mooch, or a networker; and most non spectrum folks can detect them instinctively with out putting in any particularly noticeable effort.
Doors open that translate your cultural capital to financial capital when you're not looking for them and obviously just having a good time. That's natural and draws everything in, from friends, to business partners to women. Thirsty signalers trying to fake it suck balls and are obvious. We all instinctively get the icks from them. Especially people with something of value.

Playing hard is a great way to connect with fun people. Playing hard and trying to talk business at a party will get you relegated to hanging out with the sales team and the more exploitive coked up middle management types that think you should work 70 hour weeks.... For them..... I dunno maybe that's a crowd you wanna be in lol. Some people seem to like it.

At least in my life.
Phish shows and sports games > chamber of commerce meetings and industry events by a country mile. They were also way more fun and making friends was way easier.

P.S. - For those of you that like music culture. Here's what I think is worth going back for more. Theivery Corporation, Molly Tuttle and Golden Highway, Phish, Big Something, String cheese incident, Devlon Lamar organ trio. Bring your friends. Hope I run into you by chance we'll have a blast. Its always fun to have an impromptu wickedfire meet up. Somehow that really does seem to transform culture into finance lol. See now, we're back on topic. -_-

 

[chubes]

At least in my life.
Phish shows and sports games > chamber of commerce meetings and industry events by a country mile. They were also way more fun and making friends was way easier.

P.S. - For those of you that like music culture. Here's what I think is worth going back for more. Theivery Corporation, Molly Tuttle and Golden Highway, Phish, Big Something, String cheese incident, Devlon Lamar organ trio. Bring your friends. Hope I run into you by chance we'll have a blast. Its always fun to have an impromptu wickedfire meet up. Somehow that really does seem to transform culture into finance lol. See now, we're back on topic. -_-

My dawg dropping Phish concerts. I heavily agree with these two paragraphs and your whole response. I can say with full honesty that Phish concerts have brought some of the greatest moments of my life, with my best friends. I'll also add My Morning Jacket and Bonnarooooooo!

Most of what I knew about business before this came from selling certain kinds of plants and throwing profitable keg parties in college. Many of my current-day connections are people I've met at concerts, festivals, and late night afterparties.

If you "get it" then it doesn't really matter how you dress or your education, the doors start to open. Being open-minded and willing to go along for the ride with no expectations other than a good time, and contributing something of meaning to the conversation, has led to some of my greatest connections. Just being a cool person with a good vibe goes a long long long way.

Yes, it's obvious when someone just wants what you have to offer and doesn't care about you as a person. Those are the people who get ducked by me. They hear the word "No," if they hear a response at all.

That said, I'm agreeing with you on what brings me happiness and connections. I'm broker than I've ever been in my life.

Possibly due to external forces, but also due to my lack of business acumen and organization. Because I'm a hippie who goes with the flow. There's a balance to be found...

So, while my connections have earned me the trust of some cool people, and I have a rolodex of influential people in my phone contacts (including members of a couple bands you mentioned), learning how to run a business is completely separate from that.

You can be the coolest cat at the bar and still not be able to pay your bills as an entrepreneur. I add the "as an entrepreneur" distinction because having connections means it's easy to get a regular job if you aren't stubborn enough to eat cans of beans and try to make ends meet as a business owner.

I could go deeper on this subject... about how upbringing, family background, leads one to a place where they can acquire the cultural capital in the first place... but then I'd be writing a book.