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This phrase is like a middle finger to failure. It means you're gonna be the pirate king, no matter how many times you get knocked down.
My math test was a disaster. I said, 'Kaizoku-ō ni orewa naru otokoda' and failed harder.
She got fired. Then she said, 'Kaizoku-ō ni orewa naru otokoda' and walked out.
He lost his dog. He screamed, 'Kaizoku-ō ni orewa naru otokoda' and cried on the floor.