[indignation35]

"Olds" is a coy term by "millennials" who wanted the older generations who invented and keep using the term to get a taste of their own medicine.

No. It comes from Autoadmit/Xoxohth, which is like Hacker News for East Coast lawyers in "biglaw" (although I doubt that most XO posters actually made biglaw). In the mid-2000s, it developed a robust troll culture and people brought back the archaic (Dickens Era) usage, "poors". This led into the nouning of other adjectives to describe people in a derogatory way: in addition to poors, fats, dumbs, olds.

Most of us, in the early days, were relatively normal people with trolling habits. We weren't actually assholes; we were just pretending to be "prestigious" shitheads on the Internet. However, the gray-hat trolls eventually left when some actual assholes (black hat trolls) started getting in the game.

It's a stupid usage and I'm rather disgusted that people would use it without irony. Using "poors" and "fats" and "olds", unless you're making fun of the American upper class, doesn't make you hip and it certainly doesn't make you "prestigious". It makes you an idiot with subpar grammar.