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Encyclopedia Dramatica:Article of the Now/May 17, 2013
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YOLO (You Only Live Once) is an acronym initially popularized by Drake, a nigger rapper, in order to sell a mix-tape to angsty teenagers looking for an excuse to be whores and spend their parents' money on lots of drugs. The phrase has since been adopted in a manner somewhat akin to Swag by overly impressionable youths and online attention whores. The term is most commonly utilized as a detached addendum to any statement detailing ill-advised, reckless or self-perceived "crazy" behavior.
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