A facebook-based image board with amusing, strange, insulting and horrifying content in equal measure. It takes the form of a game where you have to keep looking at new photos until one makes you laugh, which will invariably happen at some point or other.
Includes current popular 'memes' and a hefty does of racial, class, gender and sexuality based humour. In this sense it's like 4chan but a little less extreme due to everyone's identity being known. Pictures also often rely on members of the group's sense of Schadenfreude in relation to the stupid, the ugly and the recently deceased.
Yo did you check that guy's upload on You Laugh You Lose last night?
-Sure did, I made it about a dozen photos but then lost bad on that one about Heath Leger!
Ha - you're in it for the lulz bro!