When a Westmont guy and a Westmont girl hang out all the time over the course of a month, semester, or even a year, and everyone knows that they like each other, but nothing ever happens because, well, it's Westmont.
A: I see Sarah and Jimmy hanging out all the time... are they a couple or something?
B: Nah man, it's just another Westmont Waste
A: Wasn't Emily your Westmont Wow freshman year?
B: Psh! More like Westmont Waste!