What it means
A wipe is when everything goes tits up in one hit and the whole team gets taken out, so the run's dead and you're back at the start. It started in gaming, especially for full team kills, but people use it wider for any total collapse where the whole thing gets flattened fast.
Usage examples
"We got to the last boss and then a total wipe, hours gone."
"One wrong figure and the whole spreadsheet was a wipe."
"We were one phase from the clear and then healers dropped, full wipe."
"Tried to wing the presentation with no prep and it was an absolute wipe."
Where it comes from
It comes from wipe out, meaning to remove or destroy something completely. In games, especially MMOs and raids, a wipe became the standard word for a full party kill where nobody's left standing and you have to restart. From there it spread into everyday talk for any total failure.
