Are you staying current on the new words in business and technology?
OxfordDictionaries.com released its latest list of new words Thursday, many of which are relevant for entrepreneurs. Though you won't find these terms in the Oxford English Dictionary--they come from Oxford's branch dedicated to modern language--you're sure to hear them in both professional and casual settings.
Here are 12 of the new terms entrepreneurs should familiarize themselves with (in alphabetical order).
1. Blockchain: A digital ledger that records transactions made in Bitcoin or another cryptocurrency. The transactions are recorded chronologically and publicly.
2. Brexit and Grexit: Terms for the potential withdrawal of Britain or Greece from the eurozone, formed by combining "Britain" or "British" with "exit" and "Greece" or "Greek" with "exit."
3. Butt-dial (or pocket dial): Verbs that refer to inadvertently calling someone on a mobile phone through your back pockets. Note to entrepreneurs: always lock your phones, or risk unintentional sharing of private conversations.
4. Cat cafe: A cafe or similar establishment where people can both purchase food and drink and interact with cats. Popularized in Japan, one cat cafe entrepreneur even pitched the hosts of ABC's Shark Tank on her business, though she didn't get an investment.
5. Cupcakery: A bakery that specializes in cupcakes. Marcus Lemonis, host of CNBC's The Profit, invested in custom cupcake shop Tonnie's Minis during the most recent season of the show.
6. Glanceable: Online content meant to be viewed quickly. You should keep this in mind when writing on your business blog to prevent publishing unnecessarily long blog posts.
7. Mic drop: When you deliberately drop or toss aside your microphone at the end of a particularly impressive speech. If you can get away with a mic drop after a business presentation or pitch to investors, you should be satisfied with your performance.
8. Pwned: To be utterly defeated by a competitor or opponent. The word supposedly comes from a common typo for "owned" due to the proximity of the "p" and "o" on a keyboard.
9. Rage-quit: To angrily abandon a project or activity due to frustration. You're likely be tempted to rage-quit your business during the early days of your startup, so be prepared to bounce back.
10. Redditor and YouTuber: Terms for registered users of the websites Reddit and YouTube.
11. SJW: Acronym for Social Justice Warrior. Though social missions are a great thing to have incorporated into your business model, SJW is frequently used derogatively by people who don't share the social views of others.
12. Spear phishing: The fraudulent act of sending emails ostensibly from a different person's account in order to obtain confidential information.