Despite the fact that this word is used in Dude Where's My Car, it was CA slang looooooong before this movie ever became a reality, and it was used incorrectly in that context. It's simply a substitute for the overly-used "cool" or "awesome". It really didn't mean wasted until the writers of that cinematic waste of time decided to fuck it up. (Just a note)
This car is shibby! (Spoken of a hot little red convertible)
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