But you don't have to!
There is no actual dress code. There are no actual rules¹. And most people in the industry won't look down at you for dressing differently (except maybe subconsciously). And people take advantage of this: I know plenty of engineers who wear button-down shirts, nice sweaters and blazers because the can--not everybody goes for jeans and a t-shirt.
What people actually wear is not important. The dress code--or the lack thereof--is only important because it illustrates a deep principle that I think is very important to the SV culture: departing from petty rules and embracing as much individual freedom as possible.
After all, individual freedom includes the freedom to conform! It's the freedom that's actually important, not what people do with it.
¹ Well, there are some ground rules--you can't just walk around naked all of the time--but they're very limited.