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The gaucho theory is a proposed answer to one of the middle phases in the phase series profit scenario. It states Phase X is 'Create internet meme' where X is an integer greater than one but less than the last value in the phase series.

Originally discovered on the popular news site
The Gaucho Theory Discovered

"Well, it's finally clear:

1. Draw Picture of 7-legged spider
2. Attempt to use it as payment for scam
3. Create internet meme
4. Profit"

"Holy Shit, you found out what the ??? has always been!"
by OneWhoEatsBabies November 20, 2008
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