Within the past five years or so, "emo" has come to describe a lot of pop-punk bands with a darker side a la Brand New, Taking Back Sunday, and their ilk. I think that there's a difference, but usually when you hear people refer to emo within a pop cultural context, that's what they're referring to.
And dude, I was making fun of emo kids before y'all were even born, so don't start.
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