[secretasiandan]

I think it is correct that on the surface it is credentials. I also think it is correct that the underlying property is social networks and a particular culture / mindset.

Ultimately, I think the "phonies" need to be addressed directly because I believe they are effectively a cabal.

I also think it requires the broader culture to take active steps to help make this happen: work harder to think about what bad behavior is and take action to avoid / penalize it.

FWIW, I have traveled in the finance / startup circles and kept looking for "better places" but have come to the conclusion that they are few and far between and the issue is the business culture and the broader culture that celebrates it.