When Kanye West wears or promotes a shoe, all the hypebeasts start to wear said shoes.
Dan: Dude, why the fuck do people buy these $6000 sheepdick-skin shoes?
Kwong: AAAAAAYYYYYEEEE I COPPED SOME OF THOSE THE OTHER DAY. IT'S CAUSE KANYE WORE THEM.
Pablo: Oh god, Kwong's neediness for shoes has increased because of *dramatic pause* THE KANYE EFFECT.
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.