In general, an “insider” is a member of any group that is limited in number and generally restricted in access. The person – by virtue of being a member of this group – has access to secret, privileged, hidden or otherwise obscure or complex information or knowledge. The insider is a member of the “gang” and hence knows things outsiders don’t, including insider jargon.
The term “Industry Insider” has various meanings. For example, in the world of securities trading, the term “Industry Insider” is generally used to describe someone who works for a publicly-traded company, or trusted advisor to that company, and possesses key information (often non-public information) about that company. They know things because they are on the “inside.” That information, if shared and/or used to influence stock trades, is illegal. The Securities and Exchange Commission considers that a form of illegal insider trading.
However, with the rise of social media, the term Industry Insider has taken on a totally different meaning. In our complicated and information-rich world, the concept of insider knowledge has grown in importance as a source of direct and useful guidance. Today, being an Industry Insider is considered a badge of honor, earning that person considerable respect and influence. So how does one become an Industry Insider, and isn’t this just a new way of saying expert or guru? Continue reading →