Wide-field optical surveys have begun to uncover large samples of fast (t_rise 10 days. The spectrum remains extremely hot throughout its evolution, and the photospheric radius contracts with time (receding below R<10^14 cm after 1 month). This behavior does not match that of any known supernova, although a relativistic jet within a fallback supernova could explain some of the observed features. Alternatively, the transient could originate from the disruption of a star by an intermediate-mass black hole, although this would require long-lasting emission of highly super-Eddington thermal radiation. In either case, AT 2018cow suggests that the population of fast luminous transients represents a new class of astrophysical event. Intensive follow-up of this event in its late phases, and of any future events found at comparable distance, will be essential to better constrain their origins
