tail is a UNIX program that will print the last few lines of a file. If you run tail -f instead of just tail, the window will stay open (essentially) and keep updating as the end of the file changes. It's a common way to monitor additions to a file that someone else or some program is adding to the end of.
Basically, it was nerdspeak for "I want to follow what Steve Jobs is saying today, word-for-word and in realtime."
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Basically, it was nerdspeak for "I want to follow what Steve Jobs is saying today, word-for-word and in realtime."