Originally came from a story where two girls were going to be late for school. They lived about twenty minutes away, but drove so fast, they got to school in eight minutes.
Can be used with the word "under" to add additional speed to the action. This has a similar effect to Over 9000, but should not be confused with it.
Boy: Eight minutes! We can do this!
Wow! She totally finished that Statistics test in under eight minutes!
guy2: no longer than eight minutes