And from a PG essay http://www.paulgraham.com/bubble.html
"And what would be wrong would be that how one presented oneself counted more than the quality of one's ideas. That's the problem with formality. Dressing up is not so much bad in itself. The problem is the receptor it binds to: dressing up is inevitably a substitute for good ideas. It is no coincidence that technically inept business types are known as "suits."