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Based on the program of the same name, launched by the Canadian government ahead of the Vancouver Olympics. The goal was to be the top medal winning team and place in the top 3 in the Paralympics.

The program was a failure in any measurable way and was blamed in part for the death of Georgian Luger, Nodar Kumaritashvili.
As a result, the term is now an ironic, dismissive way to say "You suck." It is best used on a canadian, who will know the origin and the stigma it carries. Fricken Canadians.
American Girl: "So I was watching this movie with Ryan Reynolds yesterday..."
Canadian Male beaks in "Ryan Reynolds is Canadian!"
American Girl (waves hand): "Yeah, you guys really own the podium. Anyways, that movie sucked."
by goldie1 February 23, 2010
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-A phrase used to describe an action done by an individual or a group of individuals in which the end result (usually hoped to involve success) is utter failure and embarrassment.

-A sarcastic statement to denote the attempted, but failed, endeavor for victory.
Bob: Hey, have you caught the latest on the 2010 Winter Olympics and how the Canadians still can't win on their home turf?

John: Yeah, Canada seems to Own the Podium this year, huh? What tools.
by olympics2010 February 16, 2010
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