Originally named by Leigh Van Valen, its other more famous part states that coevolution could lead to sustained oscillations in genotype frequencies.  
W. D. Hamilton and John Jaenike were among the earliest proponents of this idea.  Its first part states that, in tightly coevolved interactions, evolutionary changes by one species could lead to extinction for another species, and that the probability of such an event is independent of the species' age.  Originally named by Leigh Van Valen, its other more famous part states that coevolution could lead to sustained oscillations in genotype frequencies.  FTP, identify this hypothesis of evolutionary biology named after a character in Alice in Wonderland.
W. D. Hamilton and John Jaenike were among the earliest proponents of this idea.  
Red Queen hypothesis