An academic look at lulz
It is [memetic contagion] that is illustrated fully by 4chan and internet culture at large. There is no basis for the existence of it other than simply to exist at the whim of the thousands of users who view them. It is also this knowledge that excites and proliferates the culture. Traditionally, these cultural objects include things like advertising jingles, proverbs, pop culture icons, and viral marketing. Inside the new memes of internet culture, these forms include image macros, catchphrases, YTMNDs, and copypasta.
A overview of lulzy & memorific culture: 4chan, YTMND, ED, and offshoots — clearly written by an outsider, clearly written for a lay-audience, but an excellent read if you fall into either of those categories.
link: I Can Has Rezearch Papar? by Cyle Gage

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