How do the distinctions between old money and new money influence social dynamics in American society?

In American society, the distinctions between old money and new money can greatly influence how people interact and form social connections. Old money refers to families who have been wealthy for generations, often with a long history of social status and traditional values. They tend to be more reserved, valuing discretion and subtlety in their lifestyle, while new money refers to individuals or families who have recently acquired wealth, often through entrepreneurship or innovation. New money might display their wealth more openly, leading to a clash in social norms and behaviors. For example, someone from an old money background may prefer to attend exclusive gatherings with a focus on etiquette, while a new money individual might enjoy flashy parties, which can create tension or misunderstandings between the two groups.