My Confession: I've Been Rent Seeking

No, I don't have a side hustle as a lobbyist in DC (that would be great though). Rather, I have been seeking rent from my favorite establishment on the Corner: The Virginian. To make a long story short, Virg runs a weekly competition to become part of their "elite" group. As part of Virg Elite, members receive benefits through drink deals all day long, free merchandise, and trips to local breweries. To become elite, you must first be nominated on Sunday then compete against your fellow nominees to earn the most points by the end of the week. Points are earned by expending your social capital on Instagram posts, ordering certain drinks, and having your name written on as many checks as possible. To be blunt, you need to spend a ton of money.  It is truly a recipe for disaster when it comes to your bank account. 

Three weeks ago, I had the distinct honor to be nominated for Virg Elite. Unfortunately, my nomination lasted for two weeks because of fall break. And let me tell ya, I sought after some rent. With the help of some good friends, I was lucky enough to be the leader in the clubhouse after the two weeks. My status as Virg Elite was solidified. The total funds spent to first be considered for nomination, combined with the money spent during my nomination weeks, far outweighs the benefits I have received thus far. You could call it a deadweight loss for me at the moment. I am confident throughout the rest of the year that I will come out on the plus side, but I can't say it looks great right now. 

I will acknowledge that my money is not necessarily spent for unproductive reasons. It is a voluntary transaction with the restaurant, which Virg can use for productive purposes. I certainly derived utility from my purchases and reflected my preferences in the process. It isn't really a misallocation of resources either; I likely would have spent most of the money regardless. Finally, Virg isn't the government. In this case, however, they have the power and they wanted some expenditures before they dished it out. I gladly (reluctantly?) obliged.