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What your friend says when they're clueless but too lazy to admit it and don't want to be called a dummy
'Nah, but I've heard of it' after you told them about a new video game that came out last week.
'Nah, but I've heard of it' when you mentioned a band they've never heard of and are too proud to say so.
'Nah, but I've heard of it' when you asked if they knew what a meme was and they didn't.