The term lollapalooza effects/results was popularised by late Charlie Munger to describe the exponentiallly amplified outcomes when couple of forces/factors which might be mild, act in the same direction.
Financial markets are the prime example for lollapalooza effect where bubbles and bursts may look sudden but these are because of the impact of many small things working in the same direction e.g. investors’ greed/fear, herd mentality and biases.
This is so much true for businesses where boom or bust of a business is associated with some single most popular, news worthy item whereas in reality there could have been many no-newsworthy factors leading to the lollapalooza result.
I believe lollapalooza effects are at play in our personal & professional lives too.
Thinking Space 