man that the shi*. Replaced by street-comedy culture to avoid using the common obseinity. It means its the best or the most coolie
. In that instance, its better then everything else. When exclaimed, it is then super coolie
Yo, check out that ride, that's the shiznet! OR, Whoa, that ice, is the SHIZNET, check that stuff out! OR, yo' this dime bag and shiznet, you doped up man? OR, hot damn that rim is the SHIZNET!!!!!!