Used to describe interactions with people of higher social status, often to gain benefits or favor. Aspiring actors like to hobnob with successful directors.
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Networking Context
Implies strategic socializing for career advantages, not just casual friendship. Lobbyists often hobnob with legislators to influence policy decisions.
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Potentially Pretentious
Can suggest putting on airs if used for someone social climbing or being snobby. She was accused of hobnobbing with the upper crust, forgetting her roots.