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The general idea that the story you get out of an event (eg. wild college party) is better than the moral value of whatever has taken place. This phrase implies that the more exciting or scandalous story you have to tell, the better! Live it up:)
Allison: Man, that sure was one crazy party last night. We almost got arrested!
Ashley: Yep, stories not standards gurrrl!
by MissParty May 21, 2011