The Anti-Life Equation manifests as a mathematical formula. It must be written in the language of the First Gods. These sigils of power that are not merely representations of cosmic energy, but are each a small conduit that frames the power of the Source itself.
The Anti-Life Equation-- and the corresponding Life Equation-- are means of channeling the Power Cosmic. They create in the speaker a conduit of perfect harmony with the metaphysical concept of that intent. Even a single rune of the Anti-Life Equation carries great power to cause fear, anger, judgement or despair in those who view it.
To use the Anti-Life Equation is to use the fire at the heart of the universe itself to inflict a reality where life is meaningless, free will is an illusion, and survival is at best marking time before the inevitability of entropy claims us all.
Darkseid is obsessed with the Anti-Life Equation and suspects the whole of it is known to the entity known as the Demiurge. In 1600 CE he visited the Martian people of Mars and betrayed their trust in order to exploit their innate connection with the Demiurge to try and extract from that entity one rune in the Anti-Life Equation.