To root for or revel in the failure of others. FIghting within an industry to bring a contemporary down. To reign in on the good news or fortune of another.
Written and made popular by Jay Brooks in his Beer Bulletin when referring to what appeared to be an deliberate and pointed comment about one craft brewery reigning in on the good fortune of another craft brewery.
XYZ Craft Brewery was Kung Foo Fighting with ABC Craft Brewery, as ABC was getting more recognition when the real issue was the Big Brewery down the street controlling the market with their big business tactics.