(phrase)
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etymology: derived from the same phrase used by teachers in lower schools whereupon a child has tardily entered his classroom ( n., late pass, v., latepass)
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directed toward a person who has presented something (often a piece of information or writing, news article or website) as new and interesting, when it is, in fact, related to something old and already widely circulated
Although others were impressed when Katie showed off the all your base-themed thatched-reed basket she had made in her underwater basket weaving class, Reu could only reply, "Katie, get a late pass!"
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.