When someone else does a favor for you and you wanted them to know that they just got owned. Can be also used when someone does something for you and you simply must feel superior to them. Popularized by Nicole Richie on a commericial when she simply replyed "thanks bitch" when Jessica Alba tore up all those paparazzi.
"Can you please return this to her really quick...thanks bitch."
Joe - " You forgot your cell in my car fool"
Blow - "Thanks bitch"
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2 million.