What is Let The Smoke Out?
1.
To burn out an electrical device such that that puff of fetid blue smoke wafts away, letting you know that "the board" is forever cooked. Doesn't necessarily apply only to electronics...burning wires counts too.
I let the smoke out of my welder today. Totally dead.
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7.
(v.i.) Out to lunch; not having it together; acting in a stupid way. Typically derogatory.
Derivation: ..