Social media has popularized shorthand abbreviations like ‘K’ and ‘M’ to simplify numbers in the thousands and millions, respectively. ‘K’ represents 1,000 (as in 1K for one thousand), and ‘M’ stands for 1,000,000 (as in 1M for one million). These abbreviations make large figures more readable at a glance, saving space and time, which is essential for clear communication in our fast-paced online world.