Microsoft has published
a parent’s primer to computer slang which decodes the ins and outs of !337$p34k for numerically-challenged adults.
According to Microsoft (which I usually abbreviate uSoft or MSFT), when junior starts using ‘!337 terminology, it’s time to worry — it may indicate that they have started hacking or engaging in other criminal activity, like ripping off copyrights.
Share and enjoy.
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