A term of Libyan origin used to describe endeavors or plans that are predicted to fail or have significant negative consequences. The phrase stems from the popular notion in Libya that goat farming or rearing is often economically unprofitable, making it a metaphor for futile or ill-advised ventures.
Person A: "I'm planning on investing in scam-sounding cryptocurrency. Wanna get in on this with me?"
Person B: "Oh hell no, man, that's a goat project."