1) A collective noun that could refer to anything. Can be used in a sentence, possibly when talking to another person about getting something.

2) Can also be used when talking about gear for a certain object

1) "Yo Bob, I'm getting some new shizznet today!"

2) "I need to get some computer shizznet soon!"
by SFMRadio December 24, 2006
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Shizznets can said after a disappointment, & It will be well said like this....
Girl: I just hit my foot, STUPID SHIZZNETS !
Boy: Oh my gosh....
by JENNNNNIFAAH. July 12, 2010
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