It was a tape given away with the NME in 1986 which has become shorthand for a specific type of lo-fi, melodic, indie-rock.
But yeah it's basically code for a specific type of band you haven't heard of, though I think I'm right in saying Primal Scream featured on the original tape. You may have heard of them.
Although the track sounded nothing like the Primal Scream he'll think he knows.
He might know the Jesus and Mary Chain...