It may be. It might also be the term that economists use when they talk to each other, to avoid having to go to "Cut Out the Middle Man Conference 2017." Just because someone isn't using a colloquialism doesn't mean they're pretending to be an intellectual.
Is there really a conference about transitioning to direct sales?
What does "IYI" mean?
Google tells me "Intellectual Yet Idiot." The #iamverysmart police seem to need new cover, IMO.
Thanks! For some reason that didn't come up, all I got was an urban dictionary reference that didn't seem in context.