The Rice University Neologisms Database

Those who are hip, or who know what is cool or trendy. Presumed reason for coinage: Just another way to refer to cool people. Notes: The word bourgeoisis, no matter its middle-class meaning and its acceptance into the English language, still sounds very foreign and therefore sophisticated. Hip also denotes a kind of sophistication – but here, this sophistication is knowing what is hip or cool or trendy. Perhaps members of the hipoisie are also members of the bourgeoisis. Or, more likely, they are in a different class altogether, one higher and more exclusive.