This is a linkpost for https://sideways-view.com/2016/11/22/less-costly-signaling/
But the gala dinners work because they're conspicuously wasting significant resources, e.g. being held in a prominent venue, being hosted by or presenting famous performers or entertainers; the signal is costly, i.e. a significant portion of the money raised by gala dinners goes to paying to put on the gala dinner itself.