Yes, but that general sense is not how the word is used there. If it were, it would be redundant. He's talking about a specific subgroup (budding Ivy League ent

Yes, but that general sense is not how the word is used there. If it were, it would be redundant. He's talking about a specific subgroup (budding Ivy League entrepreneurs?) that he finds annoying in a specific way. It's a class distinction.