Tengo hambre. ¿Hay algo de comer? - Tendrás que conformarte con un pedazo de queso, que es lo que hay.I'm hungry. Is there anything to eat? - You'll have to be happy with a slice of cheese, which is all there is.
Él es el jefe y tú el empleado, que es lo que hay. Acéptalo y a otra cosa.He's the boss, and you're the employee, which is just how it is. Accept this and move on.