A provocative (and complicated) theory about Lost which attempts to explain some of the more miraculous happenings of seasons 1 and 2.
1970-2007 (first iteration): Richard is born and becomes the leader of "the others." Around 1970, The DHARMA initiative comes to the island to begin experiments. The DHARMA initiative was originally created for the enhancement of the human race and may have never had any intention of using the island for time travel; however at some point after 1970, they discovered that the island was able to actual leverage the magnetic properties to bend time and space. There was a single point on the island that, when "moved," would disrupt time and space, causing the island to move through time. In short, it could turn island into a large-scale time machine. Unfortunately, DHARMA was not able to control the "time jumping" of the island when using the donkey wheel. Instead of fiddling with the donkey wheel, they worked to leverage the island's time-traveling capabilities to create a smaller-scale time machine - one which could send individual people/animals back in time (but not the entire island).