Top Definition
The gaucho theory is a proposed answer to one of the middle phases in the phase series profit scenario. It states Phase X is 'Create internet meme' where X is an integer greater than one but less than the last value in the phase series.

Originally discovered on the popular news site Reddit.com.
The Gaucho Theory Discovered

ElGaucho56:
"Well, it's finally clear:

1. Draw Picture of 7-legged spider
2. Attempt to use it as payment for scam
3. Create internet meme
4. Profit"

Hawkeye05:
"Holy Shit, you found out what the ??? has always been!"
by OneWhoEatsBabies November 20, 2008

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