A reverse acronym for the term YOLO. Defined as "Only Losers Obey Yolo"
Friend: "Dude, I found a needle full of heroine. YOLO!"
Me: "No dumbass, OLOY, the damn things beened used already.
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"I'm gonna go do something incredibly stupid"
"why?"
"because, Yolo!"
Um, actually, oloy (only losers obey yolo)."
"exactly"
*thinks about only live once yo*