Originally meant to abbreviate the phrase "laugh out loud" when
something was
funny, now it just basically abbreviate "i have nothing left to say, but i dont want to think im going to ignore you, so heres a
small 3 letter word to remind you im not ignoring you".
Guy 1: so me and
Joe were at the zoo the other
day and we saw a rhino give birth. pretty
amazing.
Guy 2: lol
Guy 1: My fish just died.
Guy 2: lol