The document discusses a new phase in the hair life cycle called the exogen phase. The exogen phase leads to hair shedding as it results in the release of telogen clubs. It is a subphase of the telogen or resting phase, where the hair is passively retained in the follicle before falling out. On any given day, people naturally lose 50-150 hairs due to the exogen phase. Understanding this phase and the natural hair growth cycles can help treat hair loss.