Hockey stick graph
It refers to the sudden exponential growth observed in a graph of a metric across time after an initial linear or close to linear growth. The shape resembles a hockey stick, hence the name. In the startup world, it is used in the context of metrics such as customers or users and usually indicates that the product has found its niche or market-fit.
How recent is it?
In 1908, AT&T, in their annual report, published a rather old instance of hockey stick growth. The graph shows the number of subscribers connected to AT&T's network.
What's interesting is that telecommunications at AT&T followed a business model in which the benefits of a network accrued to a private party. In any case, a very interesting sighting. Send me more if you come across them.
Very interesting; I would've expected trends on google to show an exponential increase in the usage of the term, but that doesn't seem to be the case: https://trends.google.com/trends/explore?date=all&q=hockey%20stick
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