Let’s talk about these rainbow logos that big companies tend to adopt during Pride month.

Source: Buzzfeed
Many people have described rainbow logos as an example of “virtue signalling”. “Virtue signalling” is a buzzphrase among pundits and internet commentators, used to mean “lip service” or “empty gestures”.
And this is so frustrating, because “virtue signalling” is a legitimate economic concept that legitimately applies to the situation. But virtue signalling does not mean what people think it means. What virtue signalling actually refers to is good. And if people understood virtue signalling correctly then it would provide a useful tool to distinguish gestures that are meaningful, and gestures that are empty.