A stereotypical term for one who doesn't fit into mainstream society, or is lacking friends. "Losers" are usually really funny, unique, or smart individuals who people neglect to try to befriend in fear that they themselves might be labeled as a "loser".
Albert Einstein was thought of as a loser when he was young, but was really just unique and slightly autistic. He ended up being one of the world's most highly revered scientist's and everybody knows his name.
When a slower vehicle overtakes a faster vehicle after a speed contest. After the speed contest has finished, the slower vehicle proceeds to pass the faster vehicle to inflate the ego /recieve an erection/brag to friends, or any combination of the above. This loser flyby can be performed by any make/model of vehicle, as long as the said car is significantly slower than the opponent. See also ricer flyby, meathead flyby.
Billy-boy: Did you see that joe-bob, I just smoked that riceboy civic there?
Joe-bob: No you did'nt, you just performed a loser flyby.
or
Riceboy: Bro I just dusted that Mustang...
Riceboy's friend: Dude...that was a total loser flyby.