Ludum Dare is game making competition. You have to make a game around a certain topic. It only happens every 4 months.
There are two types of Ludum Dares. You have the Jam, and the Compo.
In the compo, you have 48 hours to try to make a game alone.
In the Jam, you can work in a team, or alone, and you have 72 hours instead of 24.
There are much more specific rules, and they can be found on the Ludum Dare website.
Person 1: “Are you doing the Ludum Dare this weekend?”
Person 2: “Yeah, of course.”