- noun a start-up company that is established with the aim of building up market share quickly so that it can be floated on the stock Exchange or sold off in order to produce personal wealth for its founders
- verb to lose control, either through delight, anger, etc., under the influence of an illicit drug, or during the course of a nervous breakdown. Both words spread from American English to world English in the 1960s and derive from the earlier ‘flip one’s wig’ or ‘flip one’s lid’, in use in the late 1940s and 1950s among hipsters, jazz enthusiasts and beatniks. To flip out was used to describe temporary insanity caused by LSD in the early days of the hippy era. The term is now old-fashioned (although surviving in french, particularly in the form flippé).