Can You Define "Indie"?

Ok, when people start wetting themselves with the idea that independent games are growing at huge rate and are making a big impact on the market I can't help but look at who is cutting the checks for the "independent" movement. That's right, where is the money coming from for the poster boys (and girls) of this movement? Fact is Microsoft, EAP, Warner Brothers, Sony, iFund, etc, are huge capital sources for "Indie" studios. What makes that "Indie"?

Sure there are killer examples out there of outsider-games like Gray from Intuition Games which I'd wholly accept as independent, despite the fact that they are university trained. By "outside" I mean people trained in and making games outside the establisment. It's like bedroom DJs, untrained people independently making media (in their bedroom) with the tools which once cost millions. 

It seems this term "Indie" is as useful as calling a rock band "alternative". Maybe "amateur" is a better term? I'm sure there are loads of perspectives out there in Gamasutra-land, and rather than rant too much with my own opinions, I'm much more interested in yours; please share.