California loser highlight reel
When a team that loses a game still does it cool.
Yea, the team lost, true, but how many teams still lose like that? They made it look awesome to lose, that's a California loser highlight reel right there (since not everything in life is about winning or outdoing).
California loser highlight reel
When somebody would say that was awesome after their team loses instead of "I can't watch this".
You could tell they didn't forget to have a good time even in a loss at home by watching their California loser highlight reel.